OPEN-SOURCE SCRIPT
Box Trading (Malaysia Stock Market)
1. This indicator is based on the Box Trading technique for Malaysia Stocks Market.
2. The idea of Box Trading is to use high / low of the last Marubozu Candle as a Resistance / Support for the next following candles.
3. If price of next following candle breaks Resistance of high in the last Marubozu Candle, then enter the trade.
4. If price of next following candle breaks Support of low in the last Marubozu Candle, then exit the trade.
5. Hence, this indicator will indicate:
- Last Marubozu Candle in a green bar (preset at 6 bids/pips for Malaysia Stocks Market)
- Resistance Line on the top of the high last Marubozu Candle
- Support Line at the bottom of the low last Marubozu Candle
- T calculation starting from T0 until T+3 (to indicate days before short selling occur at T+4 of Malaysia Stocks Market)
- Blue up triangle to indicate price breakout the Resistance Line
- Red down triangle to indicate price breakout the Support Line
6. However, this indicator is only designed for Malaysian Stocks Market as the script is based on the bids/pips calculation of the Malaysian Stocks Market. Nevertheless, I let the script open for everyone to modify it based on your own preference markets/instruments.
7. Hope you guys enjoy it. Thanks.
2. The idea of Box Trading is to use high / low of the last Marubozu Candle as a Resistance / Support for the next following candles.
3. If price of next following candle breaks Resistance of high in the last Marubozu Candle, then enter the trade.
4. If price of next following candle breaks Support of low in the last Marubozu Candle, then exit the trade.
5. Hence, this indicator will indicate:
- Last Marubozu Candle in a green bar (preset at 6 bids/pips for Malaysia Stocks Market)
- Resistance Line on the top of the high last Marubozu Candle
- Support Line at the bottom of the low last Marubozu Candle
- T calculation starting from T0 until T+3 (to indicate days before short selling occur at T+4 of Malaysia Stocks Market)
- Blue up triangle to indicate price breakout the Resistance Line
- Red down triangle to indicate price breakout the Support Line
6. However, this indicator is only designed for Malaysian Stocks Market as the script is based on the bids/pips calculation of the Malaysian Stocks Market. Nevertheless, I let the script open for everyone to modify it based on your own preference markets/instruments.
7. Hope you guys enjoy it. Thanks.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.