This indicator has been developed to trade crypto-currencies, but can also be used to trade forex, stocks, and futures.
This Indicator is a full trading system that offers setups with Entries, Targets and Stops. This indicator is very accurate because it uses advanced setup detection and filtering logic.
The setup is triggered if the price passes the blue dot. Do not enter the trade unless price passes the blue dot. Each setup has 3 possible targets, which are dots colored green for longs and red for shorts. The initial stop is the green square for longs, or the red square for shorts.
You can use the base-line (which is the dark blue line with dots) to manage the trade. One strategy would be if you enter a trade long, and reach the first target, you can take some profits, but still let the some of the position run, where a bar closing below the blue line, would stop out your remaining position.
To summarize: Blue Dot = Entry Trigger Green Dots = Long Targets (3 of them, for different price targets: target 1, 2 and 3) Green Square = Long Stop Price Red Dots = Short Targets (3 of them, for different price targets: target 1, 2 and 3) Red Square = Short Stop Price
The great thing about this indicator is that its universal, there are no settings necessary -- just put it on the chart and it finds high probability setups and paints it on the chart as they occur. There is NO Repainting with this indicator.
Of course, you can add other indicators if you wish, and even add this indicator to your existing trading system.
Again, this indicator does NOT repaint.
Once a setup is found, the indicator draws the targets and stop at the setup bar close.
Setup Alerts are fully supported, via email, sms, and desktop notification.
LEGAL STUFF:
Risk Disclosure Futures , forex, stock, crypto and derivative trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results
Hypothetical Performance Disclosure Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results
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Updated Setup Detection Logic
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Made Target dot sizes larger so more easy to see
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Organized and cleaned up code
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Reworked Alert Logic:
Now there are three types of alerts 1) Long Or Short 2) Long Only 3) Short Only
This change has been implemented because some brokers do not allow shorting, therefore some people might only want to be alerted for long setups, and not short setups for certain instruments.
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Improved Visual Presentation. Changed color of Trade Trigger dot to Purple. Also made Trade Management Line more clear.
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Version 2.0 Released..Improved Logic, more setups better accuracy.. To get the update, just remove the indicator, refresh browser and add it again. You will see it say the version 2.0 (Ver2.0) in the title of the indicator on the chart.
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Code Cleanup
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Cleaned Code
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Fixed Chart Labels for Illustration
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Had to Upload Again, issue with chart labels for illustration, fixed.
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Algo Enhancement
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Made Example Chart have clearer labels for Entry, Targets, and Stop
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Reworked Code
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Resubmitted
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Fixed Target Label
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Logic Update, version is now 2.1
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Code cleanup. Current version is 2.11
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Code reorganization
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Fixed Logic Issue, Current Version is 2.12
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Current Version is 2.12
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Ver 2.2
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Updated Logic
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Logic has been updated, new trending concepts integrated.
Hi Everyone, After discussing with people regarding trial length, I think the best policy is to have a 2 week trial for people, So for new people, trials will last 2 weeks, which should be enough time to evaluate the system. The two week trial will be for any TradingView subscriber. Thank you.
amanthakurgcs
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i love to try can i get access .
mucan6317
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I would love to gibe this script a try. Thanks
jurlvarg
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Hi... I would love to give this script a try. Thanks
SpartanWhale
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@jurxalt, i sent you a pm that shows you how to get trial access.. Thank you for your interest.