5MSM VISHNU Indicator for Trending Markets originally written by patrick1994. It was originally based on the MACD 12-26 and the 50 bar EMA . The macd hist is color coded with green as buy and sell as red. I added an option to use a couple of lower lag ema's (See line 13 - ema_signal).
5MSM VISHNU with MACD Indicator for Trending Markets Originally written by Trading Rush
Note that the user may choose lower lags to compute the MACD signals added lower lag ema functions - see lines 21 to 30 added plot for the MACD signal 'hist' - computed in lines 36 to 41 The extra MACD line was added for clarity for the placement of the buy sell signals.
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removed exit timestamp
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target and stoploss line size increased.
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Renamed long to CE and short to PE
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early entry
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early entry and morning trade time after 9.30
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target 1 is increased by 10pt. Target 2 is now estimated target line.
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hist to +-1
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TARGET and entry updated.
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morning trade time changed to 10.00 am
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entry time delayed
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tyme 945
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new stoploss level added
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BULL & BEAR rejection limit added.
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Target and stoploss is masked
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redused sideways entry
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TARGET and STOPloss alert added
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added calc_on_every_tick=true
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adjusted position size
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added vwap volume based entry.
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added vwa entry arrows
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forcast added
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added trailing stoploss and trailing target.
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added supertrend, atr
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changed time
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removed prediction part .. its taking time load.. leads script fail.
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exit logic changed
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added filled candles like hikin ashi
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refined entry and stoploss
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changed ITM to OTM for novice customer for learning purpose added condition to avoid repetitive alerts
What are the best parameters/changes to use in lower timeframes like 5 min ?
patrick199415
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@simartem07, s covered in our paid course. DM me for details.
patrick199415
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@simartem07, it is covered in our paid course. DM me for details.
michaelchinezie
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Nice one man. but pls indicate BUY signal & SELL signal for Alert
patrick199415
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@michaelchinezie, s covered in our paid course. DM me for details.
lnguyen2023
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@michaelchinezie, this is the same as Range Filter Buy and Sell 5min - guikroth version, that one includes buy/sell alerts. Should combine with higher time frame indicators like Stoch MTF Moving Average, ex in 5m and Stoch MTF 1h, then buy when buy signal and Stoch MTF narrow red band or green band at the bottom
sarojchaudhary13
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Does this indicator repaint ?
Eugene_ZX
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+
patrick199415
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@Eugene_ZX, s covered in our paid course. DM me for details.