ATR+This is an indicator which uses the ATR (average true range) to calculate take profit levels, stop loss levels, and position sizing.
It acts an ATR indicator, based on concepts found in the No Nonsense Forex (NNFX) trading system.
ATR works by looking at the past N periods (14 by default) to see on average, how many pips or dollars an asset has moved. It is widely used by itself or as part of another indicator.
This script also implements money/risk management to determine:
Take Profit : 1.00x ATR (default)
Stop Loss : 1.50x ATR (default)
Risk : 2% of account size (default)
Position Sizing : How many lots/shares/units you need to achieve the indicated risk
Trade Value : The total cost of the lots/shares/units
This indicator only displays information in the status line. It does not guarantee a successful trade, and is only intended to be used to calculate take profit and stop loss levels, or as a point of reference when entering trades. Always do your own research.
Average True Range (ATR)
1st Gray Cross Signals ━ Histogram SQZMOM [whvntr][LazyBear]This is the Histogram Version of one of my other indicators named: SQZ Momentum + 1st Gray Cross Signals (with arrows) Which is a modification of "Squeeze Momentum Indicator" by user: "LazyBear". In that indicator of his he described, and suggested, the use of his gray cross signals to find points of interest for trading based on the direction of momentum when the first gray cross appears... I have programmed these points, and highlighted them, for ease of use. The 1st gray cross strategy, he said , is from John F. Carter's book, Chapter 11, "Mastering the Trade".
Here we have the Histogram version, with background highlights only, and nothing on the chart, in true SQZ Momentum style.
Disclaimer: using this indicator, or any indicator anywhere, involves risk when trading and isn't a guarantee of 100% accurate results.
ATR Oscillator - Index (Average True range Oscillator)The purpose of converting the ATR value indicator to an oscillator;
It is known that the ATR value is not between the two specified values. So it is not compressed between 0 and 100 like RSI and %B etc. Therefore, conditions such as "A condition if ATR value is X, B condition if ATR value is Y" cannot be created. In order to create these conditions, the max and min value range of the ATR value must be determined. This indicator converts the ATR values into a percentage number according to the maximum and minimum ATR values in the period you will choose. Max value is 100, min value is 0. The considered ATR value, on the other hand, corresponds to the % of the difference between the max and min value in the selected period.
In this way, conditions such as "If the ATR Oscillator value is greater than 10 or 20 or 30" can now be created, or the value of another indicator can be calculated based on the ATR Oscillator value. For example; Let's say we want the standard deviation of BBand to change according to the value of the ATR Oscillator. If BBand Standard Deviation is 3 if ATRO value is 100, BBand Standard Deviation is 2 if ATRO value is 0, and BBand Standard Deviation is 2.5 when ATRO value is 50;
We can encode it as BBand_Std_Dev=((ATRO*0.01)+2 )
If the ATRO value is between .... and ...., you can make improvements such as plot color X.
ATR_RSI_Strategy v2 with no repaint [liwei666]🎲 Overview
🎯 this is a optimized version based on ATR_RSI_Strategy with no-repaint.
Sharpe ratio: 1.4, trade times: 116 ,
trade symbol: BINANCE:BTCUSDTPERP 15M
you can get same backtesting result with the correct settings.
🎲 Strategy Logic
🎯 the core logic is quite simple, use ATR and RSI and SMA
1. when price is in high volatility ( atr_value > atr_ma);
2. wait for a break signal (rsi_value > rsi_buy or rsi_value < rsi_sell);
3. entry Long or Short,use trailing stop-loss to max security and percent TP to keep profit.
🎲 Settings
🎯 there are 7 input properties in script, but I only finetune 4 of them ( bold field below ),
you may change other parameter to get better result by yourself.
atr_length: length to get atr value
atr_ma_length : length of smoothing atr value
atr_ma_norm_min : atr_ma normalized min value, filter high volatility ranges
atr_ma_norm_max : atr_ma normalized max value, filter high volatility ranges
rsi_length : length to get rsi value
rsi_entry: 50 +/- rsi_entry to get entry threshold
trailing_percent: trailing stop-loss percent
🎲 Usage
🎯 the commission set to 0.05% , part of exchange the commission is less than 0.05% in reality,
but I will still use 0.05% in my next script.
🎯 this script use 50% of equity to size positions follow general script position,
you can adjust the value to fix size or 100% of equity to compare result with other strategy,
but I still suggest you use 5-10% of equity for each strategy in reality.
🎯any questions please comment below. if there are any words violate House Rule, please tell me below and i will revise immediately
don't want be hiddened again 😂😂
Additionally, I plan to publish 20 profitable strategies in 2023;
let‘s witness it together!
Hope this strategy will be usefull for you :)
enjoy! 🚀🚀🚀
Trendly
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About the script:
This script is an easy-to-use trend indicator, which is based on another popular indicator called "Supertrend" . The basic idea is very simple, i.e. to compute Average True Range(ATR) and use that as the basis for trend detection. The key difference lies in a custom trend detection method, that computes trends across different timeframes and projects them in a table view. The script also tries to improve the behaviour of the existing indicator by highlighting flat regions on the chart, indicating sideways market or potential trend reversals.
How to use it:
You can use it just like any other indicator, add it to your chart and start analysing market trends. Results can be interpreted as follows.
Indicator output is currently made up of two main components:
>> Trend Table:
Appears at the bottom right of your screen
Contains trend indicator for 9 different timeframes
Timeframes can be adjusted using indicator settings panel
Green Up Arrow --> Up Trend
Red Down Arrow --> Down Trend
>> Enhanced Supertrend:
Shows up as a line plot on the chart
Green line indicates up trend
Red line indicates down trend
White regions indicates slow moving markets or a potential trend reversal
Indicator can be used on any timeframe, it provides a view of current and historical market trend
Can be used as an indicator for entering/exiting trades
Can be used to build custom trading strategies
BankNifty Dash
This indicator to be used only in BankNifty , shows Values of BankNifty Index & its top constituents.
Dashboard Interpretation :
LTP - Last Traded Price.
D High - Day High.
D Low - Day Low.
I Points - Shows the contribution of top BankNifty constituents according to its weightage.
PH-PL - "PH - PL" means LTP is trading between Previous Days High( PH ) & Previous Days Low( PL ) which indicates Rangebound-ness.
"+ PH" means LTP is trading above Previous Days High( PH ) which indicates Bullish-ness.
"- PL" means LTP is trading below Previous Days Low( PL ) which indicates Bearish-ness.
ATR - Displays the Daily ATR (Average True Range) (14 period).
DTR - Current Day Range.
DTR% - Current Day Range percentage.
( DTR & DTR%, changes colour based on percent value. < 61.8 is green and > 61.8 is red.)
For example if the Daily ATR is 100 and the current range of the day is 200 this would be 200% the original move.
EMA:-
Default value of 5 is used in Fast EMA.
Default value of 21 is used in Slow EMA.
Default value of 200 is used in EMA (Used for trend direction).
User can change values from input section.
If the colour filled between Fast EMA and Slow EMA is green, the market is in a uptrend
If the colour filled between Fast EMA and Slow EMA is red, the market is in a downtrend.
ADR :-
Plots ADR (Average Day Range) zones are used as support and resistance, ADR zones are calculated using a 5 or 10 day period unless you change the settings.
PDH/PDL :-
Plots Previous Day High(PDH) and Previous Day low(PDL).
Remaining ATR [vnhilton]ATR levels can be used on a trading day to look for overextensions beyond the average, where you can look to take profits. Remaining ATR is calculated as the current day range subtracted by the previous day ATR. RATR is then plotted away from the high & low lines. All lines (except for the day open) are dynamic, so RATR lines will move according to how much RATR remains.
Note: This indicator only works on intraday timeframes
(FEATURES)
- Works on either RTH or ETH sessions
- Select Day ATR period, & 3 multipliers that will be applied to RATR values away from respective intraday high & low
- Extend current lines to the right
- Show recent lines only
- Change line style, colours within & out the intraday range, & thickness
- Change label offset, size, & colours within & out the intraday range
- Hide RATR lines & labels when within intraday range
- Plot fill between lines (note: RATR plot fills are from their lines to the intraday high & low, so there'll be overlapping)
To show more lines in the past, go to higher intraday timeframes.
Same chart & timeframe as above but on RTH session only.
Volatility Compression Ratio by M-CarloHello traders. I created this simple indicator to use as a FILTER.
He does not provide any operational signals but tells us if we are in a period of volatility compression or expansion and it can work on all market.
This filter works great for all strategies that work on breakouts
The concept is this: I will enter at breakout of a price level that I consider important, only if there is a volatility compression and not in the case of expansion of volatility.
Technically the calculation is very simple:
Step 1: I calculate the ATR at "x" periods, I set 7 by default because I get better results but you can change it as you like using the "atr length" field. You can also choose whether to calculate the ATR via RMA, SMA or EMA.
Step 2: I Calculate a simple average of the previous ATR over a longer period, longer period than set with the "length multiplier" parameter, which multiplies the "atr length" value by "x" times. Here I set the default 3 but you can change it as you like.
Step 3: I divide the ATR value calculated in step1 by its long-term average calculated in step2, obtaining a value that will oscillate above and below the value of 1
So:
if the indicator is above the value of 1 it means that volatility is expanding
If the indicator is below the value of 1 it means that we are in a period of volatility compression (and as we know volatility explodes sooner or later)
If you have any questions write to me and I hope this filter helps you! Have good Trading!
Average True Range Refurbished💡 Objective
This script is a rebuild of the pre-existing ATR indicator, with improvements and fine-tuning.
🪄Improvements
1. Normalization option (range 0 to 100)
2. Optional calculation of the ratio between current volatility and average volatility
3. Optional smoothing
4. Show a moving average
5. Show Bollinger Bands with 3 bands
6. Change bar colors according to ATR and Bollinger Bands
📚 Definition
'The Average True Range (ATR) is a tool used in technical analysis to measure volatility. Unlike many of today's popular indicators, the ATR is not used to indicate the direction of price. Rather, it is a metric used solely to measure volatility, especially volatility caused by price gaps or limit moves.'
(TradingView)
Time Based Crypto DayTrade StrategyThis is a time based strategy, designed to enter and exit within the same day of the week, using different hours for entry and exit.
The script is long only direction, and it has no risk management inside, so use it with caution.
At the same time you can also calculate each individual hour return within a certain day, and make your own idea about the best moments to be enter.
In order to filter a bit from the bad trades, I have applied an ATR filter, to check if that volatility is rising in order to help eliminate some of the bad trades when there is no volatility around.
For this example, on BTC, it seems that for the last years, on tuesday and thursday, enterring at the beginning of the daily candle, 01:00hours and exit at 00:00 hours, seems to give positive results giving the idea that can be converted in some sort of edge into our favor.
However dont take this entirelly for granted and conduct your own searches
ATR & APCAverage True Range (ATR) and Average Price Change (APC). Shows the ATR and APC as well as the TR and PC for the current bar, colour coded to indicate very large/small bars. The ATR and APC are also colour coded to reflect whether they are increasing or decreasing. Style will need to be customized.
Volatility SystemDespite its crude name, the volatility system strategy, described by Richard Bookstaber in 1984, follows the simple premise that once there is a big volatile movement, the market tends to follow it. Thus, it uses the ATR to measure the volatility, and issues orders when the current change of the closing price exceeds the threshold, calculated by the ATR times a configurable constant.
It yields good results for some very specific charts, as you can see. However, I doubt it would work in the current market conditions, since it has no stop loss and no take profit , and the current noise levels obliterate this strategy, especially in small time frames. Maybe their integration to the strategy would yield better results, so feel free to add your own modifications.
ATR Table 2.0ATR Table 2.0
This script was created in order to display a table that "calculates" how far the price can go on the current day .
The script is a table with 3 lines that calculates:
First Line - Day TR: The True Range of the current day ( - , including an Opening GAP if it exists);
Second Line - 10 Day ATR: The Average True Range of the asset (including Opening GAPs) for the last 10 days;
Third LIne - Range Consumed: How much of the 10 Day ATR it was consumed on the current day.
Example of how to use the information on the table and the understanding of it's purpose:
1) Supose you are day trading an asset that, during the last 10 days, have moved around $1.00 a day - This is the 10 Day ATR.
2) On this day, after 2 hours of the opening market, the price have already moved $0.50 (supose that it has moved $0.30 up and $0.35 down from the close of the prior day and the price is now near the close of the prior day).
3) In this situation, knowing that the price often moves around $1.00 a day, and knowing that it already moved $0.65 ($0.30 up and $0.35 down based on the close of the prior day), you may pay attention when the price breaksthrough the max or the min of the day, cause it can still move $0.35 in that direction ($1.00 - $0.65).
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ATR Table 2.0
Esse script foi criado para disponibilizar uma tabela que "calcula" quanto o preço pode andar ainda no dia em questão .
O script é uma tabela com 3 linhas que calcula:
Primeira Linha - TR do Dia: O Range Verdadeira do dia em questão ( - , incluindo GAP de Abertura se for o caso);
Segunda Linha - ATR de 10 Dias: A média do Range Verdadeira do ativo (incluindo GAPs de abertura) dos últimos 10 dias;
Terceira Linha - Range Consumido: O quanto do ATR de 10dias já foi consumido no dia em questão.
Exemplo de como usar essa informação na tabela e o entendimento do seu propósito:
1) Suponha que você está realizando day trade de um ativo que, durante os últimos 10 dias, se move em torno de $1.00 por dia. Esse é o ATR de 10 dias.
2) Nesse dia, após 2 horas da abertura do pregão, o preço já se moveu $.050 (suponhamos que ele tenha se moveu $0.30 para cima e $0.35 para baixo a partir do fechamento do dia anterior e agora o preço está próximo do fechamento do dia anterior).
3) Nessa situação, sabendo que o preço se move por volta de $1.00 por dia, e sabendo que ele já se moveu $0.65 ($0.30 pra cima e $0.35 pra baixo a partir do fechamento do dia anterior), você deve se atentar para quando o preço romper a máxima ou a mínima do dia, pois ele pode se mover ainda $.035 na direção do rompimento ($1.00 - $0.65).
ATR+ Advanced Sessions ATR for DaterangeATR+ Advanced Sessions ATR for Daterange
The ATR+ adds the following additional filters to the stock ATR indicator by Tradingview:
- Calculates the overall average ATR for a user defined daterange, optionally filtered by trading session and selected weekdays, presented as a secondary line over the standard ATR line.
- Basic ATR line, with colour highlight to indicate the selected sessions, days and timeframe being calculated by the average ATR+ line.
- Average ATR+ line indicating the average of all ATRs within the defined timeframe, optionally filtered by instances of a selected trading session and selected weekdays.
- Customisable appearance.
- The ATR+ also includes the basic ATR configuration options typically found in the standard ATR by Tradingview, including period length and smoothing type. Defaults are set to the factory standards: 14 length, RMA smoothing type.
What Is the Average True Range (ATR)?
The ATR is a technical analysis tool that measures market volatility by decomposing the entire range asset price for that period. Investopedia describes the ATR as follows:
"The average true range (ATR) is a technical analysis indicator, introduced by market technician J. Welles Wilder Jr. in his book New Concepts in Technical Trading Systems, that measures market volatility by decomposing the entire range of an asset price for that period.
The true range indicator is taken as the greatest of the following: current high less the current low; the absolute value of the current high less the previous close; and the absolute value of the current low less the previous close. The ATR is then a moving average, generally using 14 days, of the true ranges."
For more information on the ATR and its calculations and use cases, see here:
Investopedia link here.
Tradingview link here.
Note
The indicator may time out if the number of bars being calculated is too long. If this happens, you will need to reduce the datetime range, or increase the chart timeframe in order to reduce the number of bars being calculated and the indicator will attempt to recalculate.
Interactive ATR Stop-Loss [TANHEF]This indicator is "Interactive" which means some inputs can are manually added through the first click after adding the indicator to the chart (ATR Trailing Stop-loss start point). See images below for more explanation.
Why use a trailing stop-loss?
A trailing stop-loss provides an exit when price moves against you but also enables you to move the exit point further into profit when price is moving in the desired direction of a trade. The ATR (Average True Range) which is used to measure volatility, is very effective at functioning as a trailing stop loss.
Indicator Explanation
Initially when this indicator is added to the chart, you will be prompted to select where to begin the ATR Trailing Stop-loss.
For a long stop-loss, select below price.
For a short stop-loss, select above price.
After this indicator is placed, it can be modified via dragging or from within the settings by modifying the time and the price input. Or simply re-add the indicator to the chart.
The ATR Stop Loss plotted. Note that the trailing value that is considered as the stop loss value is the value of the ATR from the prior candle. The settings for the ATR calculation can be modified within the settings.
An optional fixed profit target can be added within the settings. This profit target will only actively be plotted when the ATR Trailing Stop-loss has not be hit hit yet or until the profit target has been hit.
Here shows that the profit target was hit, then later on the ATR Trailing Stop-loss was hit.
Note, trailing stop-loss will continue to be plotted until it has been hit regardless of the profit target being hit or not.
Alerts
1. 'Check' alerts to use within indicator settings (trailing stop hit and/or profit target hit).
2. Select 'Create Alert'
3. Set the condition to 'Interactive ATR''
4. Select create.
Average True Range with stop loss and take profit finderBased on the official original average true volatility (ATR), two functions have been extended.
Users can see the suggested stop loss and take profit parameters when entering a long or short order with each K-line.
Part of the settings:
Length: The preset is 14 K lines, which can help you grab the suggested stop loss point.
Long-short single profit-loss ratio: After entering the value of the profit-loss ratio (floating point) you want, it will automatically convert and calculate the past take-profit point.
The five values displayed on the chart are from left to right: ATR, Short Stop Loss, Long Stop Loss, Short Take Profit, and Long Take Profit.
Didi ATR HybridThis is a hybrid indicator that combines the Didi Index with the Average True Range.
It acts as both an ATR and a Confirmation indicator, based on the No-Nonsense Forex (NNFX) trade rules.
The Didi Index takes three moving averages to build a fast line (MA1 and MA2) and a slow line (MA2 and MA3). You can use it several different ways (2 lines cross, zero-cross); in this setup, we only use the slow line with the zero-cross to produce a signal (source code is set up to take advantage of the fast line - you just need to plot it yourself).
ATR is a measure of candle volatility.
The plotted value is equal to the ATR, which then gets colored based on:
Black : Didi Index is below 0 - do not enter trade
Red : Didi Index is above 1, but the previous candle closed >1x ATR - do not enter trade (too volatile)
Green : Didi Index is above 1, and the previous candle closed <1x ATR - a possible trend is confirmed and you may enter the trade (use other indicators too)
The provided chart does not look exciting - as with NNFX, I am posting it with the OANDA:EURUSD , which is one of the harder FX pairs to trade.
Trend #4 - ATR+EMA channelOverview:
This strategy use ATR to take-profit, Red-EMA to stop-loss, Blue-EMA channel to judgment breakout.
This strategy use commission setting is 0.05%, slippage setting is 2 ticks, you can set the appropriate value size in the properties page.
What it does:
This strategy detects when a trend is emerging and buy or sell.
How it does it:
When the price breaks through the blue EMA channel, the trend is judged to be strong in the short term, strategy generates a buy or sell order.
After buying or selling,, if the price moves in the expected direction, uses ATR to determine the appropriate spread to take profit, otherwise use red EMA for stop loss.
How to use it:
Start Date and Stop Date - This parameter adjusts the time range used by the strategy.
Stoploss - This parameter adjusts the stop loss amount after each order is placed.
Blue EMA length - This parameter adjusts the length of the channel.
Blue EMA multy - This parameter adjusts the width of the top and bottom of the channel.
ATR Period - This parameter adjusts the number of candles used by the ATR.
ATR mult - This parameter adjusts the upper and lower widths of the ATR. Lowering this parameter can improve the win rate, but not necessarily the profitability.
Red EMA length - This parameter adjusts the number of candles used by the red EMA .
Long - This switch is used to turn Long position on or off.
Short - This switch is used to turn short position on or off.
True Average Period Traded RangeTrue Average Period Trading Range (TAPTR)
The J. Welles Wilder Average True Range calculation includes the ability to calculate in gaps into the equation.
It is in my opinion that gaps are untraded range values until the prices on their own come back and close the gaps.
The TAPTR calculation is simple, it is the average for a set period of time of the HIGH - LOW.
The ATR average calculation is automatically set based on the timeframe period you are looking at.
12 Months (1 year) = 10 (1 decade)
Months = 12 (1 year)
Weeks = 12 (1 business quarter)
Days = 21 (1 trading month)
4 Hour = 9 (5 trading days)
1 Hour = 33 (5 trading days)
45 minutes = 9 (1 trading day)
30 minutes = 14 (1 trading day)
15 minutes = 28 (1 trading day)
10 minutes = 42 (1 trading day)
5 minutes = 85 (1 trading day)
1 minute = 420 (1 trading day)
default value = 21 (if using a timeframe not described above)
The "master trend" as being a 21 SMA.
The colored columns represent the actual range value for that time period.
Description of values from left to right.
1) Actual Trade Range Value for the time period you are viewing
2) % of price (in decimal, you need multiply by 100 to get the true percent)
3) Average Traded Range
4) % of price
5) .618 of Average Traded Range
6) % of price
7) Mean of #3 and #5
8) % of price
The % of price is displayed in its calculated form. You need to multiple the value by 100 if you want the actual percent.
Example: Displayed Value: 0.0246 = 2.46%
Why calculated form only? If the ranges are .72 and the % of price is 2.32 the indicator looks all jacked up like a redneck's pick-up.
However, if it is .0232, everything is to scale.
Why is % of price helpful?
If you are trading and are aware that average period traded range is 5%, you now have an idea of an average return if you could catch from low to high (or short high to low).
Bar Colors
RED is greater than 4.2x TAPTR
ORANGE is greater than 2.618x TAPTR but less than RED
YELLOW is greater than 1.618x TAPTR but less than ORANGE
GREEN is greater than .618x TAPTR but less than YELLOW
BLUE is less than GREEN
The colors of the bars represent how far from the Master Trend (21 SMA) the close is.
This is determined by taking the difference between the close and the 21 SMA and dividing by the current TAPTR.
EXAMPLE:
IF you have a RED bar, the close is greater than 4.2 TAPTRs away from the 21 SMA. This means that either prices will stall and remain flat until
the SMA comes to the prices or turn and return to the SMA.
If prices are greater than 4.2 TAPTR, that also represents that it is greater than 4 or more time periods from the mean if the return traded within the averages.
Volume Volatality IndicatorVolume Volatility Indicator
vol: volume; vma: rma of volume
Cyan column shows (vol - vma)/vma, if vol > vma else shows 0
0 value means vol less than vma: good for continuation
0 < value < 1 means vol more than vma: good for trend
value > 1 means vol more than 2 * vma: good for reversal
tr: truerange; atr: averagetruerange
Lime column show -(tr - atr)/atr, if tr > atr else show 0
0 value means tr less than atr: good for continuation
0 > value > -1 means tr more than atr: good for trend
value < -1 means tr more than 2 * atr: good for reversal
Cyan line = 1
Lime line = -1
This indicator shows the volume and truerange together.
Good for filtering trending and consolidating markets.
Thanks for the support.
Trend SuggestionsThis brings together a number of variables to produce trend predictions that could be utilized as decision-making tools.
Uses the aforementioned price and volume derivatives
- A moving average and three weighted moving averages (WMA1, WMA2, WMA3)
- Super Trend Line (ST)
- Opening Range Breakout on Five Minutes, Resistance Bands Pocket pivots, support, and price volume
he Direction is determined by the High and Low Bands of WMAs and the Supertrend Line, which are used to determine the Upper and Lower Lines around the Price. When the price passes below the lower boundary of the band, a downtrend is said to have begun.
Similarly, for an uptrend, this continues until the price passes over the upper edge of the band. Teal for an uptrend and fuchsia for a downturn area shared by the band to identify the trend.
The first five minutes of the breakout lines have a tiny buffer augmentation of 11% applied to them.
Based on what has been observed, support and resistance zones have been somewhat changed from the figures that are often utilized (might work other markets as well)
The markings that may be seen are as follows:
- Blue Triangle indicates a pocket pivot with an upward bias;
- Maroon Triangle indicates a pocket pivot with a downward bias;
- Teal colored Diamonds indicate price upthrusts and potential trend confirmation locations, depending on success or failure.
- Similar backdrop color changes that look as vertical shading are also used to identify them.
- Fuchsia-colored diamonds indicate price declines and a potential trend, depending on whether it persists or fails.
- Dark green and maroon square boxes indicate potential price reversals in the support and resistance bands, respectively.
It goes without saying that this work is derived from numerous other open-source community initiatives.
Feel free to adjust anything you'd like, and we appreciate any feedback.
Onboard ATRThis indicator is similar in its operation to the ATR indicator. The change is that it is displayed on the chart and shows the value for the current candle, instead of being displayed as a chart under the price chart.
MACD strategy + Trailstop indicatorWelcome traveler !
Here is my first indicator I made after 3 days of hardlearning pine code (beginner in coding).
I hope it will please you, if you have any suggestion to enhance this indicator, do not hesitate to give me your thoughts in the comments section or by Private message on trading View !
How does it works ?
It's a simple MACD strategy as describe here :
Uses of EMA 200 as a trend confirmer,
For sells :
When above Zero line (MACD) and under EMA200, we go on sell (background color is red)
For buys:
When under Zero line (MACD) and above EMA 200, we go on Buy (back ground color is green)
FILTERS !
I haded one filter to reduce noise on the indicator :
Signals aren't taken if one of the 14 last candles closed on the other side of the EMA 14.
What are the green and red lines ?
The green line is equivalent of a potential stop loss as a buyer side, same for the red one on seller side !
To make the space with the price bigger, please use "ATR multiplier" in the input options of the indicator while on your chart !
Is it timeframe specific ?
Hell no it is not timeframe specific ! You can try to use it on every timeframe !
As usual, I like to remind you that the best way to test an indicator is to go backtest it or to paper trade before using it on real market conditions !
If you find an idea of filter for a specific timeframe, do not hesitate to contact me ! I'll try to do my best to enhance this indicator as the time goes !
Is there repainting ?
There is no repainting on confirmation !
There's only a movement that I don't know how to ignore on the current open candle for the trail stop indicator I built, it should not be a problem if you place alerts to automatise your trading on the close of the candle, and not the high or low !
If you know how to resolve this problem with my code, I would be glad to get your tips to enhance the script ! :)
Example of the indicator in market (backtest, as said, no repaint on confirmation) :
