jiehonglim

Trend Follower - Light Mode | jh

Follow up script for my Trend Follower script.

I'm used to dark mode, so I coded a few key plots in white, so those are changed into black on the script.

Notably:
- > 1 ATR in black dots along the baseline
- Current and previous ATR text labels to the right of the price
- A text label spacing input that allows you to adjust the spacing for text label from price.

This is a trend following system that combines 3 indicators which provide different functionalities, also a concept conceived by VP's No Nonsense FX / NNFX method.


1. Baseline
The main baseline filter is an indicator called Modular Filter created by Alex Grover
- https://www.tradingview.com/u/alexgrover/
- Alex Grover - Modular Filter
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That's the moving average like baseline following price, filtering long and short trends and providing entry signals when the price crosses the baseline.
Entry signal indicated with arrows.

2. Volume / Volatility , I will called it Trend Strength
The next indicator is commonly known as ASH, Absolute Strength Histogram.
This indicator was shared by VP as a two line cross trend confirmation indicator, however I discovered an interesting property when I modified the calculation of the histogram.
- Alex Grover Absolute Strength
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My modification and other info here
- Absolute Strength Histogram v2
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I simplified the display of the trend strength by plotting squares at the bottom of the chart.
- Lighted Squares shows strength
- Dimmed Squares shows weakness

3. Second Confirmation / Exits / Trailing Stop
Finally the last indicator is my usage of QQE (Qualitative Quantitative Estimation), demonstrated in my QQE Trailing Line Indicator
- QQE Trailing Line for Trailing Stop
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Three usages of this amazing indicator, serving as :
- Second trend confirmation
- Exit signal when price crosses the trailing line
- Trailing stop when you scaled out the second trade
This indicator is plotted with crosses.


Additional plots and information
Bar Color
- Green for longs, Red for shorts, White when the baseline direction conflicts with the QQE trailing line direction
- When it's white, it's usually ranging and not trending, ASH will also keep you off ranging periods.
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ATR Filter
- White circles along the baseline, they will show up if the price has moved more than one ATR from the baseline
- The default allowance is 1 ATR.
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The previous and current ATR value
- Label on the right side of the chart showing the previous and current value of ATR

Script open-source

Dans le plus pur esprit de TradingView, l'auteur de ce texte l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur ! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par les règles internes. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Vous voulez utiliser ce script sur un graphique ?
Tip Jar :)

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Commentaires

This is some Good Stuff
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DAMN UR A SMART GUY!
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thanks for sharing, i will forward test and get back to you. thanks for the effort
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Excellent hard work and fascinating work! How is your winning rate on foward testing using this algorithm?
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Thank you soo much for this , I don’t know how I can donate something to you or something? Pls What’s the purpose of the Didi index indicator here pls ?
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jiehonglim smsarmani
@smsarmani, there's no didi here, it can be used as another confirmation or continuation indicator.
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