Master/Last Candle

Last/Reversals: Last candle is defined as the end of a trend (bullish/bearish) and followed by a series of candles in the opposite direction (bearish/bullish) called reversals.
This indicator marks master/last candle, whether it is master or last depending on the breakout direction of the next candle. Next, we have to look for support (medium/low) and resistance (medium/high) to determine the target, which is not covered here. Remember that, target must cover sell-buy spread or commission offered by broker. When the two points are taken into considered, it is that time to decide making a trade (buy/sell) or not.
Detailed prices at entry and stop loss are included in alerts.
Markets: All.
Timeframes: All.
Usage: Used in combination with support/resistance.
Add new types of master/last candle (A2, B2, C2).
• Add new parameter: Max Benchmark Candle Distance.
• Truncate numbers in alerts.
• Optimize buy/sell zone alerts.
• Important note added to the original description: There is sometime when the market is in ranging mode, the buy/sell zone has only one bar. We have two options when falling into this situation.
- o One, use the stop loss suggested in the alert to exit the trade, life is still wonderful and we absolutely have no problem with a trade of very little loss.
- o Two, however, in my own observation so far, we will not regret if following this popup one-time signal as there would be profitable time after that, at least within the same timeframe of the signal. Strictly follow the market, do not leave the screen and exit the trade at the profitable time with low profit expectation, we would be safe and have a comfortable day amidst the ever-changing market.
• Add new types of master/last candle: x3 (A3, B3, C3). If we are satisfied with the previous revision, we just simply uncheck (A3, B3, C3).
• Add option to change color of status table header.
• Important: Increase Percentile % definition of Cx master/last candles to 55.
• Update author’s instruction.
• Change default percentile of Cx candles to 50. Inactive = 50 (day and above), 55 (intraday).
• Add No Master/Last Candle In Buy/Sell Zone option. Default: true. If unchecked, it is the same with previous revisions.
• Add Min Height of Benchmark Candle %. Range: 0 – 100. Default: 0. Recommendation: 65. If 0 is chosen, it is the same with the previous revision. Detailed explanation of why we need this measure will be given in the coming Monthly Update to Patrons.
• Add license and disclaimer.
• Add Current Reward-Risk Ratio (CRRR) %. Example: If we entered the trade at the upper side of the channel and price went up to CRRR of 100%, the profit now would be equal to the loss if price went wrong to the lower side of the channel. Detailed discussion of how to use will be given in the coming Monthly Update to Patrons.
• Note: Please backup your tested settings before moving to a new revision of an indicator.
• Add Zone Area: number of candles in zone.
• Change default display: Only show buy/sell zone, not show master/last candle.
• Support multiple layouts of status table (7x1, 4x2).
• When a super-type master candle (X, Y) appears, Min Price Breakout % also does not affect the calculation of the buy/sell zone.
• Change the default value of Stop Price from 2 to 1 (ATR).
Fix Doji Master (S1).
Add special types: S2 (Composite-Doji Engulfing), S3 (Composite-Doji Near-Engulfing), S4 (Composite-Hammer Near-Engulfing), S5 (Composite-Tail Near-Engulfing), S6 (Balance Hammer Near-Engulfing), S7 (New Ice Cream and Hammer 180 Degree), S8 (Strong Move with Strong Pullback and Tail 180 Degree).
Auto adjust sample length for intraday.
Add special types: S9-S11.
Add special types: S12-S13.
No Late Entry.
Update core principles.
Update core principles.
Update core principles.
Add exit types: S1x.
Add special types: S19.
Update core principles.
Add special types: S26-S28.
Add special types: S29-S30.
Update core principles.
See result on NASDAQ:AAPL 1D.
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Declinazione di responsabilità
Script su invito
Solo gli utenti autorizzati dall'autore hanno accesso a questo script e ciò richiede solitamente un pagamento. Puoi aggiungere lo script ai tuoi preferiti, ma potrai utilizzarlo solo dopo aver richiesto l'autorizzazione e averla ottenuta dal suo autore - per saperne di più leggi qui. Per maggiori dettagli, segui le istruzioni dell'autore qui sotto o contatta direttamente SupersafeTrader.
TradingView NON consiglia di pagare o utilizzare uno script a meno che non ci si fidi pienamente del suo autore e non si comprenda il suo funzionamento. Puoi anche trovare alternative gratuite e open-source nei nostri script della comunità.
Istruzioni dell'autore
Attenzione: prima di richiedere l'accesso, leggi la nostra guida per gli script su invito.
License and Disclaimer: tinyurl.com/4rtrwhfd