piriya33

CDC ActionZone V3 2020

## CDC ActionZone V3 2020 ##
This is an update to my earlier script, CDC ActionZone V2
The two scripts works slightly differently with V3 reacting slightly faster.
The main update is focused around conforming the standard to Pine Script V4.

## How it works ##
ActionZone is a very simple system, utilizing just two exponential moving
averages. The 'Zones' in which different 'actions' should be taken is
highlighted with different colors on the chart. Calculations for the zones
are based on the relative position of price to the two EMA lines and the
relationship between the two EMAs

CDCActionZone is your barebones basic, tried and true, trend following system
that is very simple to follow and has also proven to be relatively safe.


## How to use ##
The basic method for using ActionZone is to follow the green/red color.
Buy when bar closes in green.
Sell when bar closes in red.
There is a small label to help with reading the buy and sell signal.
Using it this way is safe but slow and is expected to have around 35-40%
accuracy, while yielding around 2-3 profit factors. The system works best
on larger time frames.

The more advanced method uses the zones to switch between different
trading system and biases, or in conjunction with other indicators.

example 1:

Buy when blue and Bullish Divergence between price and RSI is visible,
if not Buy on Green and vise-versa
example 2:
Set up a long-biased grid and trade long only when actionzone is in
green, yellow or orange.
change the bias to short when actionzone turns to te bearish side
(red, blue, aqua)
(Look at colors on a larger time frame)

## Note ##
The price field is set to close by default. change to either HL2 or OHLC4
when using the system in intraday timeframes or on market that does not close
(ie. Cryptocurrencies)

## Note2 ##
The fixed timeframe mode is for looking at the current signal on a larger time frame
ie. When looking at charts on 1h you can turn on fixed time frame on 1D to see the
current 'zone' on the daily chart plotted on to the hourly chart.
This is useful if you wanted to use the system's 'Zones' in conjunction with other
types of signals like Stochastic RSI , for example.
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Commentaires

Love it :) I think, one of the best here on TV, appreciated.

Any plans to include pumps/dumps warning signs?
+2 Répondre
能直接发出来下载么,代码复制过去,无法启动,mt4
+1 Répondre
How to scan SET with action zone?
+1 Répondre
Hi Piriya,

Great work! Thanks for sharing!

I checked it on chart, but confused on yellow and red candle conditions.
Can you please explain on what condition the candle will be yellow? and what condition to be red?

Thanks
Répondre
I trade action zones, but only when a bar closed above or below of it. I don't get how to interpret the color of the bars. There are green, yellow orange (long bias) there are red, blue, aqua (sell bias). So according to this if why to put different color depending the bias? Could you explain this? thank you!!
Répondre
How to put in the filters for stock scanning.
Répondre
piriya33 pattanaruj
@pattanaruj, That's a whole different topic, you will have to come up with a good screening criteria first.
Mine usually involves stocks that have retraced back down significantly and is trading with high enough volume
+5 Répondre
pattanaruj piriya33
@piriya33, Thank you.
+1 Répondre
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