TrendBand Guide - simple way to analyse current chart trend.
Basic of usage:
1. TrendBand Color Red : Chart in bullish condition Green : Chart in bearish condition Purple Line : Current trend direction Red Line : Long term trend direction
2. Candle Color Green Lime : Breakout 20 days high with more than average volume. Red : Oversold condition base on RSI (14) days - below 35.
Note :
All color can be change from format menu.
When TrendBand in RED, find any breakout or pullback setup.
When TrendBand in Green, it show weakness in trend..find any potential rebound setup.
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Update : Change RSI from 30 to 35 for oversold (red candle)
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Additional green arrow - potential signal for pullback breakout
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UPDATE - change from green arrow up to green triangle up - change green candle breakout calculation
Add - red triangle down, when price make new high but close lower - black triangle up, when price make new low but close higher
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UPDATE : Change algorithm for RED TRIANGLE
ADD : Alert Condition for Green Candle, Green Triangle and Black Triangle
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UPDATE : rename object title
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Add On
INSIDE BAR - Orange Candle
ATR Trailing Stop - blue cross and horizontal red line - only appear at green candle
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Update : Add name Stop Loss (Stopp Loss and Stop Loss Line)
2. Label - New label with suggestion trading idea - Spesific for trendband guide signal
3. Trailing Stop - Improve calculation
4. Add On - Green Bar Line (breakout line) - Red Bar Line (bearish engulfing line) - Red Alert
5. New Alert ! - Signal Trendband (all in one)
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Objective - less noisy signal
Add - new design for trading idea's label - horizontal line for stop loss, breakout price and target price - input by date for trading idea - 52 week high/low - new pullback signal (down bar) - fix long term line to MA 200 only
Remove - lowest low signal - red candle for oversold signal
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change minimum breakout candle to 5
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- change label size from small to normal
- change % location from left to right in label
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- Remove big label and change with breakout price
- Remove entry input
- Re-arrange text for target price and stop loss
- Change calculation for target price
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Update
- breakoutbar now follow pricevolume
- add trading plan placeholder for dynamic alert message
Tuan, the purple line (current direction).. is it based on EMA50?
masib
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Hi, is it possible to get access to code? I would add code to my other indicators code.
-Your trendband works great, but im running out of room for indicators(max 5).
Good luck with your trading!
Jeded
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tuan saya baru je follow video youtube tuan. masih newbie. macam mana nak dapatkan indikator tuan? Apa pun terima kasih dengan perkongsian ilmunya.
aisya8901
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Moga tuan murah rezeki panjang umur sihat walafiat dan masuk syurga