NKP Trend Trader is an indicator. It will plot buy / sell signal in live market based on custom calculated information about entry points at close of the candle. Buy/ Sell signal is the best entry point but you can enter at the next candle.
we can see the Trend line and signals like Buy/Sell - 5 min candle (Intraday trading)
we can see the trend line formed with two colors(Red or Green). If the Trend line color change from red to green then buy signal will generate with green color label with "Buy" text once see the buy signal then go for long in the next candle open. If the Trend line color change from green to red then sell signal will generate with red color label with "Sell" text once see the sell signal then go for short in the next candle open.
How does it work? buy - Take the buy order in the next candle open after Buy signal and book profit when signal change to sell( trend line color changes from green to red) sell - Take the sell order in the next candle open after Sell signal and book profit when signal change to buy( trend line color changes from red to green)
What are the signals? Yes it will generate the buy/sell signals in the live market these signal will plot Green color label with "Buy"/Red color label with "Sell" based on signal.
Can we set the Alert on this? Yes, we can set the alert based on the signals Two custom alerts - NKP Buy , NKP Sell
IMPORTANT: this script does not generate exit signals and those should be find using money management rules or else. Perfectly catches long runs in trends at all underlings (stocks, indexes ) at 5 min time frame. Lower/High period gives more incorrect signals and shorter runs on below 5 min period , higher period gives you late entry and less. Of course it gives false signals from time to time but fortunately it makes a correction very fast.
Try it! Good luck and good trading!
"Use the link below to obtain access to this indicator" or "PM us to obtain access."
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Trend line calculations are changed to get the accurate calls
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signal logic updated
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trend line got corrected(no repaint)
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signal logic changed to get good accuracy
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Main trend line formation logic changed to no repaint
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Instead of main trend line make it to trend background color
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adjusted the signal accuracy.
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new trend line added to identify the falls signals
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Signal Status text added in the chart.
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alignment the text
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trade status - momentum strength added
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chart corrected
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chart scaling bug fixed
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daily buyer/seller zones added
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Added the Gap up /down with mother candle formation strategy with this indicator.