BullTrading 15 Min Daily Retracement Channel V2.0

Hi Traders, I have been received tons of private messages asking me access to my previous scripts. Please let me apologize for not being able to answer all messages. Once you publish a script in Tradingview you can manage individual access to the script but there is no option to open the script after being published.

For that reason I decided to open this script for you, this indicator implements many of the best features contained in previous "invite only scripts". It is designed to display alerts for day trading and short term swings using the 15m Timeframe.

How to use "BullTrading 15 Min Daily Retracement Channel V2.0" indicator?

This indicator is experimental but works if the trader applies good judgment and risk management. Neither myself or BullTrading Asset Management is or will be responsible for any live trading loss using this script, so please use it on Demo.

ALWAYS USE PENDING ORDERS!! It is always much better to wait price using your Fibonacci Retracement tool or the indicator reference lines.

Set Buy signals AT THE CLOSE of yellow candlesticks.
Set Sell signals AT THE CLOSE of fuchsia candlesticks.

Most of the time Buy/Sell signals will react with too much anticipation so you can wait for the price to form enough fractals in order to analyze your entry levels, risk management, SL's and TP's.

AVOID AT ALL COSTS to enter the market immediately after a signal. WAIT for fractal formations to confirm reversals. I will say it AGAIN: Use only pending orders and AVOID market execution orders!

If your order is already filled and the moving average changes color or the price consolidates in your entry level it is better to trail tight your SL, exit the trade with small loss or Break Even instead of waiting for a full Stop Loss exit (this conditions usually indicate trend continuations against the indicator signals).

If the market goes against the signal, THINK and use the indicator lines and channels to match a level using your Fib retracement tool. Applying this criteria will lead for better entry levels in the opposite direction.

Feel free to comment suggestions.

Best Regards

Trading Is a Tool For Enlightenment
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