EneX signal consider several indicators and has entry and exit rules.
EneX signal is suitable for investors who believe in trend following strategy (disclaimer on).
This script composed by Yohan Naftali for educational purpose only. Reader who will use this signal must do own research.
Indicator and Plot Involved
1. Williams Fractals with default periods = 2
2. William Indicators with default 8, 13, and 21
3. Exponential Moving Averages with default value 50, 100, and 200
4. with default overbought level = 80 and oversold level = 20
5. Williams Fractals are joined to create line and fill area between lines.
Entry signal conditions
1. Entry on Weakness when appear on n/2 period
2. Entry when price break resistance line
All entry condition must above and signal and not in overbought
Exit signal conditions
1. Lowest price is below
2. Lowest price is below William lines
You can easily find entry and exit points by using Entry (E), Exit(X) signals
How to use
1. Monitor chart and wait until E or X signals
2. Entry if Entry Signal (E) appear (green colored label)
3. Exit if Exit Signal (X) appear (red colored label)
4. Change indicators setting when necessary
1. Entry only when entry signal (E) appear
2. Never entry when price below William signal
3. Exit when exit signal (X) appear
4. Not exit when exit signal appear when you believe or you have information that price will be rebound
5. Exit if you believe that current price meet your target price
6. Always wise when use EneX signals
Do your own research and consider fundamental price of asset.
The indicators provided on this script is for educational purposes only.
Author does not offer advisory or brokerage services, nor does it recommend or advise users to buy or sell particular stocks or securities.
Please examined script and give feedback for further improvement.
change signal from e to N to prevent confusing between entry and exit
now entry signal is N
blue dot indicate position in holding asset
teal dot appear when entry on weakness is recommended
green dot appear when price break on resistance
red dot appear when not holding asset
change color and add trasparency for visibilty other line
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.