TradingView MarketPlace allows third party developers to integrate their trading product to TradingView. DecisionBar are independent, unaffiliated studies, which are not part of TradingView subscriptions – these are separate tools that you buy if you want. Description, algorithm, support and prices are all determined by the author.
DecisionBar Trading Software is based on the concept that market movement is psychological in nature and is driven by supply and demand, support and resistance, and momentum and exhaustion.
Since a price chart is graphical representation of just two variables, price and time, DecisionBar attempts to clarify what those two variable are telling you, as opposed to obscuring that information with complex mathematical formulas. DecisionBar works by keeping track of what the market you are trading has done in the past, and then alerting you when trading opportunities based on that movement occur in real-time.
DecisionBar can be adjusted to limit signals and whipsaws in volatile markets, alert you to trend changes in trending markets, as well as to give frequent signals for traders who use a «scalping» style of trading.
DecisionBar includes a BiasBar and Risk Oscillator to help you determine if a signaled trade is in sync with the market, and a Trailing Stop Module, based on Average True Range, to help you manage you trades as well as lock in profits.
The Trailing Stop Module can be set to tighten your stops when a preset profit threshold is reached, as well as adjust dynamically to changes in volatility, tightening your stops quicker if volatility decreases, and slower if volatility increases.
DecisionBar can be used on Bar and Candlestick charts and well as Renko and Heiken-Ashi charts. DecisionBar does not work on Point and Figure and Kagi charts. Please see the example of DecisionBar applied to TradingView charts below. The meaning of each signal is explained in the DecisionBar Trading Manual, but for the purposes of this discussion, all you have to know is that Green signals are Buy signals and Red signals are Sell signals. (Note: If you sign-up for DecisionBar for TradingView you will receive the DecisionBar Trading Manual via immediate download.)
For more info please visit the DecisionBar website at: http://www.DecisionBarTrading.com
The chart above shows DecisionBar
applied to a Candlestick chart in TradingView.
The chart above shows DecisionBar applied to a Renko chart in
The chart above shows DecisionBar applied to a Heiken-Ashi chart in