During the course of a trade, we can find ourselves changing strategies depending on the market. Instead of using many different templates, I have a simple indicator that clearly says "Buy", "Sell" or "Stay Out". The great thing about this approach, is we instantly observe the majority are in agreement and that decides which way to place our trade.
This indicator includes the following strategies:
- QQE - Ichimoku using much faster settings. - Parabolic SAR - Supertrend - TTM Oscillator - The Squeeze strategy - The Alligator Strategy
Using this indicator is simple, if the lines are mainly green then buy, if mainly red then sell OR don't trade. So...
Green Line - This strategy is in a buy position Orange or Black Line - This strategy is undecided Red Line - This strategy is in a sell position
There are also some green and red circles for reference that appear showing when that bar has broken through the Ichimoku cloud.
The trader's approach is simple, when all indicators are green or red, then take the trade. As soon as one indicator changes, then re-evaluate using your normal process, such as price action, to determine whether to close the trade or continue.
I can customise this further or add other strategies, please message me.
Very Interesting. Have you discovered the optimal time frame? It seems that 1m and 5m create too many false signals. Are there certain market conditions or stock types you find this to work well with?
ChoiceEcon
⋅
@Rudy79433, This is a great question. I'd love to see it answered. Have you done any experimentation on it using backtesting?
marsdi
⋅
this is a perfect thing. many thanks. i have one question. is it possible to determine an angle on an indicator. for example the angle on the EMA 12?
futureme5
⋅
Hi, can alerts be set up with this?
ForexResearchLabs
⋅
@futureme5, Good evening, there are four alerts already for the lifetime bar/line - open buy, open sell, close buy, close sell. Is there any specific combination you're after?
arunksad
⋅
great work.. but i have observed that the signal is lagging by one candle which means it wont provide he Realtime signal of the live candle instead it will only give output after that candle is completed which will delay our entry and exit by one candle ....is there any way you can solve it?? it would be very helpful if you do that on this script..
Sacha1337
⋅
Thk's a lot ! :) <3
alanizadeh
⋅
Hi dear! Please add radar add-on like "Pvtvx by Dgt" for easier recognition of trend. For example,if there are 9 parameters, and 5 or 6 are green, radar shows buy and if red, so it must be sell signal.
muddy7
⋅
can u add an option for changing the color of the lables? thanks
tarora198802
⋅
Can u use this indicator for stock trading as well ?