Hello Guys! Nice to meet you all! This is my second script! This Logic is trend following logic, This detects long & short trends by comparing the value of MAs. This fits to the longer time frame.
### Long Condition 1. Compare 4 MAs (you can chose MA Type) - Shortest MA (MA 1) - Shorter MA (MA 2) - Normal MA (MA 3) - Longer MA (MA 4) 2. If MA 1 > MA 2 > MA 3 > MA 4, then Enter Long Position - ‘The arrangement of MAs in descending orders’ is the proxy of the long trend.
### Short Condition 1. Compare 4 MAs (you can chose MA Type) - Shortest MA (MA 1) - Shorter MA (MA 2) - Normal MA (MA 3) - Longer MA (MA 4) 2. If MA 1 < MA 2 < MA 3 < MA 4, then Enter Short Position - ‘The arrangement of MAs in ascending orders’ is the proxy of the short trend.
### Close Condition 1. When trend Changes - When (MA 1 > MA 2 > MA 3 > MA 4) breaks or (MA 1 < MA 2 < MA 3 < MA 4) breaks. 2. When the price hits the stoploss 3. When the price hits the take profit level (basically 50% of qty will be closed)
### Etc 1. Trend filter (ATR should be bigger than SMA of ATR) - If the volatility of price is to small (ATR), then there could be false signal. To filter this out, I used the condition ‘ATR should be larger than SMA of ATR’. 2. Stoploss - Enabled Stoploss based on ATR, Percent, Risk-Reward Ratio, - Enabled Trailing Stoploss. 3. Choose MA Type - You can choose MA Type
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