This is a continuation of the previous (possible) Holy Grail script. This is designed for forex and crypto trading. The when the price crosses over a line it is a buy/sell signal. When the price crosses the blue area it is a great opportunity to ride the momentum, although quite risky. It is good to follow this in periods of high volume where the smallest trends can be caught. When the price crosses the pink area it is a little less risky than the blue area, but also doesn't catch every wave. When the price crosses back into the blue area it is a good signal that the small trend may be reversing, which also applies to the pink area. Although the pink area provides a little more certainty The large red line provides the most stable entry points. For everyone that keeps asking, the backtests of the red line are generally very good, it lets profits ride and has almost nonexistent drawdowns. I would be interested in automating it, but it will enter and exit a position way too many times in certain circumstances creating an issue with fees. The thin purple line shows the general trend. It reacts too slowly to give entry and exit points, but it may be helpful to watch it's behavior. Feel free to message me with any questions, ideas, or interests in collaborations in automated trading. Cheers
Hi mcbw_!
Can I know what the red line is? I'm very interested
thank you!! :)
mcbw_
⋅
Hi cuetaracrema, when the price action crosses the red line you can treat this as a buy/sell signal. Or as a buy/sell filter
Jasondb
⋅
@cuetaracrema, The Red Line looks to be the 100 Linear Weighted Moving Average... I have never used it but if you slap an MA on your chart and use that setting.. matches perfectly to the red line on the Holy Grail Indicator..
mcbw_
⋅
I must take a break on working on this indicator. There is a teaser for version 3 for anyone that is interested. Leave a comment for an invitation here: tradingview.com/script/L1cXSqWC-HGrail-V2-2-invite/ Cheers
Skutania
⋅
@mcbw_,
Keep up the good work! Would love to check out the new version
mcbw_
⋅
Thanks @Skutania, unfortunately the teaser is deleted. I'll let you know if there is another public version in the future!
nildur
⋅
@mcbw_, hello 5 years past did you done something?
rkim12
⋅
@mcbw_, great work! I'm very interested in your script please keep me updated!
mcbw_
⋅
@rkim12, Thank you, I'm hoping to post V3 next month. I'll let you know!
Jasondb
⋅
@mcbw_, Would love to see the new version when you have time.. Thanks!!
Can I know what the red line is? I'm very interested
thank you!! :)