WAMASAMA/Intraday SL
WAMASAMA\SL indicator is based on moving averages movement. The indicator depicts the trend direction. The entry points with subsequent momentum in number of bars creates a curvature .The curvature created signals the change in the direction of the trend. Coupled with appropriate exit strategy the indicator supplements decision making process.
The indicator in table format lists Open Price, Last Price , difference between Open Price and Last Price, Intraday Stop Loss Buy and Stop Loss Sell. Intraday Stop Loss levels are calculated based on the average of difference between High and Low ATR levels for the length of bars after day open. The default ATR multiplier is 2.Intraday Stop Loss levels are to be weighed in conjunction with price action indications and risk reward proportions.
The indicator in table format lists Open Price, Last Price , difference between Open Price and Last Price, Intraday Stop Loss Buy and Stop Loss Sell. Intraday Stop Loss levels are calculated based on the average of difference between High and Low ATR levels for the length of bars after day open. The default ATR multiplier is 2.Intraday Stop Loss levels are to be weighed in conjunction with price action indications and risk reward proportions.
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SL removed from script.
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DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment.
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Calculations refined with math.round _to_mintick.