Step RiderRelease Note:
Idea of this script is to ride on the trend. Multiple dynamic support and resistance are identified and those levels are used
Step Lines:
There are 3 different periods by default are used to define 3 different step lines. On any trend, either of these 3 steps shall play major role
Color Strength:
Change in Red & Green color and its thickness changed based on how strong the up or down trend is.
Disclaimer:
//Disclaimer: Idea of publishing this script is to identify the strength of the instrument using multiple confirmation.
//Disclaimer: Using this indicator, changing inputs, and trading decisions are up to the users/traders.
//Courtesy: Thanks to Richard Donchian, Alan Hull as this indicator/script inspired by Donchian Channels, Hull Moving Average
CK
Donchian BlasterRelease Note:
Keeping in mind of getting full potential of Donchian Channels, As part of this script, Linear Regression is used as primary source to identify trend and execute the trades.
Hull Moving Average given as alternative option in place of Linear regression.
Linear Regression:
Linear regression used to identify trend, trade setup, and stop. Based on this, Color fillings on Donchian channels is updated. That will give clear idea of strength or weakness in any trading instruments.
HMA:
HMA used as alternative to identify trend, trade setup, and stop. Based on this, Color fillings on Donchian channels is updated. That will give clear idea of strength or weakness in any trading instruments.
Donchian Channels:
As it is one of the oldest trend riding system, combined here with differentiation in color will help to go with the trend.
Inputs:
Input periods can be changed by users/traders as per their understanding and observations.
//Disclaimer: Idea of publishing this script is to identify the strength of the instrument using multiple confirmation.
//Disclaimer: Using this indicator, changing inputs, and trading decisions are up to the users/traders.
//Courtesy: Thanks to Richard Donchian, Alan Hull, and author of LSMA as this indicator/script inspired by Donchian Channels, Hull Moving Average, and LSMA
Adjacent HMA StopRelease Note:
This indicator script setup is published to identify the strength and ride the trends.
HMA:
HMA 100 period is used as default. However this can be changed as per wish. Major turning points or decisions can be made using this HMA line. Purple color is used to identify this. This can be used as the final extreme stop for any trend before it turns.
Adjacent Line:
Blue colored Adjacent line can be used to determine the trend strength or ride the trend till it slows down. When trending move happens it can be ride till the candles comes within this Adjacent line. And then sideways move or the moves between HMA & Adjacent line can be traded
Stop:
Dotted lines in Red and Green colors are used as very tight stop. This can be also used as first level of profit booking when very strong move happens.
Trend View:
There is an optional 'Trend View' which can be used to determined the trend.
Disclaimer:
//This script/indicator published with the idea of finding the strength of any instruments. Trade decisions and execution are up to the traders/users as per their understanding
//Courtesy: Thanks to Alan Hull and Richard Donchian as some of the concepts are inspired from them
Modified Donchian ChannelRelease Note:
This indicator setup highly inspired by Donchian Channel and Hull Moving Average. Big thanks to both Richard Donchian and Alan Hull.
Back test and live test it and come to conclusion of how to use this indicator for live trading.
200 HMA:
200 Hull Moving Average plays major role in deciding the right trades using Donchian Channel. As part of this setup,
If price is below 200 HMA, then the Donchian Channel is highlighted in Red color
If price is above 200 HMA, then the Donchian Channel is highlighted in Green color
Donchian Channel:
Default 20 period is used for the Donchian channel. However, the color highlight as per 200 HMA position. Also, the middle basis color changes to Green and Red based on candle close of above or below.
Additionally, 5 period Donchian basis is used as tight stop loss. This can be used wisely or optionally based on trade decisions
Disclaimer:
//Idea of publishing this script is to identify the strength of the instrument using multiple confirmation.
//Using this indicator, changing inputs, and trading decisions are up to the users/traders.
//Courtesy: Thanks to Richard Donchian and Alan Hull as this indicator/script inspired by Donchian Channels and Hull Moving Average
One-Stop Trading SetupOne-Stop Trading Setup:
This script designed to identify up, down, and sideways trends. 200 HMA, 9 EMA, PSAR, and ATR are used to identify the strength of any instrument.
Candle Colors - Simpler approach to follow:
Green color indicates for up side trade signals
Red color indicates for down side trade signals
Yellow color can be interpreted for stop, sideways, and counter trade trade signals
Multiple Trade Setups:
Green Zone - Trading green candles within green zone has better odds of long trades
Red Zone - Trading red candles within red zone has better odds of short trades
200 HMA - Candles above 200 HMA mostly for long trades. Candles below 200 HMA usually for short trades. But the zone also very important to consider
9 EMA - Cross over above 200 HMA in Green zone, look for long trades. Cross over below 200 HMA in red zone, look for short trades
PSAR - This can be used as potential initial warning sign. Also can be used to exit partial or wait for it goes to opposite side for taking trade decisions
Candle Above all - If Green candle and above all the indicators, then very good sign of long side. If red candle and below all indicators, then very good sign of short side.
Multiple Time Frame:
This works very well with any instrument and on any time frame. Always its better to do analysis on multi time frame before entry, exit, and trade execution. Back test it with this setup and also observe it on live market. That will give edge in taking trade decisions. All the best and happy trading.
Disclaimer:
This script and setup is written with the sole purpose of identifying the strength of any instrument. Interpretation, trade decisions, and changing inputs are up to each individual users/trades.
