TrendBand Guide

TrendBand Guide - simple way to analyse current chart trend.

Basic of usage:

1. TrendBand Color
Red : Chart in bullish condition
Green : Chart in bearish condition
Purple Line : Current trend direction
Red Line : Long term trend direction

2. Candle Color
Green Lime : Breakout 20 days high with more than average volume.
Red : Oversold condition base on RSI (14) days - below 35.

Note :

All color can be change from format menu.

When TrendBand in RED, find any breakout or pullback setup.

When TrendBand in Green, it show weakness in trend..find any potential rebound setup.

Notes de version:

Update : Change RSI from 30 to 35 for oversold (red candle)

Notes de version:

Additional green arrow - potential signal for pullback breakout

Notes de version:

UPDATE
- change from green arrow up to green triangle up
- change green candle breakout calculation

Add
- red triangle down, when price make new high but close lower
- black triangle up, when price make new low but close higher

Notes de version:

UPDATE : Change algorithm for RED TRIANGLE

ADD : Alert Condition for Green Candle, Green Triangle and Black Triangle

Notes de version:

UPDATE : rename object title

Notes de version:

Add On

INSIDE BAR
- Orange Candle

ATR Trailing Stop
- blue cross and horizontal red line
- only appear at green candle

Notes de version:

Update : Add name Stop Loss (Stopp Loss and Stop Loss Line)

Notes de version:

Add On Input
- Breakout Candle
- Trailing Stop
- Break Weekly Low
- Oversold Mode

Update
- black triangle (less signal)

Notes de version:

Latest update

- option to chose MA or EMA for Long Term Line

- Change title "MA200" to "Long Term"

- Additional alert for "Oversold Entry"

Notes de version:

1. Convert to pinescript version 4

2. Label
- New label with suggestion trading idea
- Spesific for trendband guide signal

3. Trailing Stop
- Improve calculation

4. Add On
- Green Bar Line (breakout line)
- Red Bar Line (bearish engulfing line)
- Red Alert

5. New Alert !
- Signal Trendband (all in one)

Notes de version:

Objective
- less noisy signal

Add
- new design for trading idea's label
- horizontal line for stop loss, breakout price and target price
- input by date for trading idea
- 52 week high/low
- new pullback signal (down bar)
- fix long term line to MA 200 only

Remove
- lowest low signal
- red candle for oversold signal

Notes de version:

change minimum breakout candle to 5

Notes de version:

- change label size from small to normal

- change % location from left to right in label

Notes de version:

- Remove big label and change with breakout price

- Remove entry input

- Re-arrange text for target price and stop loss

- Change calculation for target price

Notes de version:

Update

- breakoutbar now follow pricevolume

- add trading plan placeholder for dynamic alert message

- update alert

- update inside bar

- remove stop loss character