Big Poppa Code Strat & Momentum Strategy Indicator

bigpoppacode97964 Atualizado   
This indicator is a combination of a few things in order to work with a unique trading style gleaned from Callme100k, jrgreatness, TrustMyLevels , FaithInTheStrat, Rob Smith and Saty Mahajan.

This Indicator is created to help you day trade using, ATR Fibonacci Levels, Price Action and Momentum.

It displays Fibonacci Levels Based on ATR to indicate when a security is 0.236, 0.382 +- the Days Open, +- the Days Open, 0.618 +- the Days Open and 1.0 +- Days Open.

To understand this script you need to understand
Average True Range (ATR)
1 Bar Inside Bar
2 Bar Outside Bar (Break either the top or bottom)
3 Bar Engulfing Bar
Strat Setups - 212, 322, 312
Fibonacci - 0.236, 0.382, 0.618, 1.0
Moving Averages

A Trend is considered bullish when (green)
Current Price is greater than the Fast EMA Value (8)
Fast EMA is greater than PIVOT EMA Value (21)
Pivot EMA is greater than SLOW EMA Value (34)
OR Hull is trending up and the Price is above the Volume Weighted Moving Average and price is above VWAP

A trend is considered Bearish when (red)
Current Price is less than the Fast EMA Value (8)
Fast EMA is less than PIVOT EMA Value (21)
Pivot EMA is less than SLOW EMA Value (34)
OR Hull is trending down and the Price is below the Volume Weighted Moving Average and price is below VWAP

If these conditions are not met then the Momentum is in Conflict (orange)

The Momentum band will match the color of the current trend

The table that is present can be turned off at any time lets you see

1) If Moving Averages are showing bullish, bearish or in conflict
2) If There us Time Frame Continuity, (if 5 min up, are all the other timeframes up also)
3) How much of the ATR have we moved on the day
4) Are we in Call or Put range for the day based on ATR Fib Levels

The Ideal situation for entering a call
1) Momentum is Green
2) FTFC on Green
3) A Strat Actionable Signal is present
4) You are in the call range, 0.236 - 0.618 ATR + the Price
5) The ATR still has room, I.e only 50% of the ATR has been run already

Ideal situation from entering a put
1) Momentum is red
2) FTFC on Red
3) A Strat Actionable Signal is present
4) You are in the put range, 0.236 - 0.618 ATR - the Price
5) The ATR still has room, I.e only 50% of the ATR has been run already

Exit the trade for these reasons you entered (for profit or loss)
1) ATR has no more room
2) FTFC is now in conflict
3) Momentum has shifted

Take Profit when
1) You reach a new ATR Level 0.618, 1.0 , -0.618, -1, etc

Passive Stop Loss
1) Open Price if you are aggressive
2) Next ATR Level Down or Up

Feel free to take profit and leave runners

This script does not give signals, you should do your own research, I am not a financial advisors, I am simply applying principles of seasoned veterans to code. You make all decisions about how you buy, sell and trade. The creator of this script makes no promises and takes no responsibility for your personal trading.

To research the methods described above look up
Rob Smith : The Strat
Saty Mahajan : ATR Levels
Using the HULL Moving Average
Exponential Moving Averages

Notas de Lançamento:
Minor change
Notas de Lançamento:
Minor Update on text typo
Notas de Lançamento:
Fixed 3-2 Setup and 3-1 Setup to show up on chart
Notas de Lançamento:
added 5 day back testing
Notas de Lançamento:
Minor Change
Notas de Lançamento:
Added Back Testing and 5 days, Adjusted entry levels 0.146

Entry Level = 0.146 * ATR plus or minus(+/-) the days open price
Money Level = 0.236 * ATR +/- the days open price
Good Money Level = 0.382 * ATR +/- the days open price
Great Money Level = 0.618 * ATR +/- the days open price
Baller Money Level = ATR +/- the days open price

The entry number is your potential entry, the money number is your Price Target (PT), or potential exit… check FTFC (Full TimeFrame Continuity and Momentum)!!!

You can use indicator either for calls or puts, but, depending on the market direction, play what you see and not what you think!

Keep it simple, control those emotions, wait for your confirmations, buy the options contracts you can afford, and let the charts do the rest…

This also works with advanced strategies like Straddle, Strangle and Iron Condor

Straddle/Strangle Example ( Not financial advice)
1) Buy Call and Put at Open (or atleast at the same time) at the same strike, or using the 0.146 +/- levels as the strike
2) Hold both until 1 reaches 0.236 +/- and cut the loser( or more aggressively by another option on the winning side), if price action starts moving to 0.382 (use strat 1,2,3 and actionable signals)
3) exit winner when the price action goes against you, (if you doubled down you can leave a runner to see if it gets to +/- 0.618)
4) If you kept the loser sell it either when price action retraces to 0.236, or if continue to move against you.

Iron Condor Example (Not financial advice)

1) Buy Put at - 1 ATR
2) Buy A Call at +1 ATR
3) Sell A Put at -.236 ATR
4) Sell A Call at +.236 ATR
5) Open Iron Condor at OPEN and ext IRON Condor at close to Day Close
Notas de Lançamento:
Minor Updates on Plotting
Notas de Lançamento:
You can now toggle between a small chart and a large chart

Large Chart is optimal for desktop and has all data
Small Chart is for mobile trading and gives only the most important Data
Full Time Frame Continuity
ATR Fib Levels
If Momentum is Bullish, Choppy or Bearish
Notas de Lançamento:
Minor Typo Fixed
Notas de Lançamento:
Update Chart
Script de código aberto

Dentro do verdadeiro espírito TradingView, o autor deste script publicou ele como um script de código aberto, para que os traders possam compreender e checar ele. Um viva ao autor! Você pode usá-lo gratuitamente, mas a reutilização deste código em uma publicação é regida pelas Regras da Casa. Você pode favoritá-lo para usá-lo em um gráfico.

Aviso legal

As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.

Quer usar esse script no gráfico?