jiehonglim

Trend Follower | jh

This is a trend following system that combines 3 indicators which provide different functionalities, also a concept conceived by VP's No Nonsense FX / NNFX method.


1. Baseline

2. Volume/Volatility, I will called it Trend Strength
  • The next indicator is commonly known as ASH, Absolute Strength Histogram.
  • This indicator was shared by VP as a two line cross trend confirmation indicator, however I discovered an interesting property when I modified the calculation of the histogram.
  • - Alex Grover Absolute Strength
  • -------
  • My modification and other info here
  • - Absolute Strength Histogram v2
  • -------
  • I simplified the display of the trend strength by plotting squares at the bottom of the chart.
  • - Lighted Squares shows strength
  • - Dimmed Squares shows weakness

3. Second Confirmation / Exits / Trailing Stop
  • Finally the last indicator is my usage of QQE (Qualitative Quantitative Estimation), demonstrated in my QQE Trailing Line Indicator
  • - QQE Trailing Line for Trailing Stop
  • -------
  • Three usages of this amazing indicator, serving as :
  • - Second trend confirmation
  • - Exit signal when price crosses the trailing line
  • - Trailing stop when you scaled out the second trade
  • This indicator is plotted with crosses.


Additional plots and information
  • Bar Color
  • - Green for longs, Red for shorts, White when the baseline direction conflicts with the QQE trailing line direction
  • - When it's white, it's usually ranging and not trending, ASH will also keep you off ranging periods.
  • -------
  • ATR Filter
  • - White circles along the baseline, they will show up if the price has moved more than one ATR from the baseline
  • - The default allowance is 1 ATR.
  • -------
  • The previous and current ATR value
  • - Label on the right side of the chart showing the previous and current value of ATR

Adding my Didi and ASH indicators up on this screenshot
Didi Index Improved with QQE
Jan 09
Release Notes: Created another version for Light mode as a few key plots are in white.

One change for this Dark mode version is to add a text label spacing input that allows you to adjust the spacing for text label from price.
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Very good @jiehonglim !!
2 questions please.

1. Why is ATR showing different value in NNFX basline script and in Trend follower?
2. Wbich one of those 2 mentioned above do you see more accurate please?

Thanks for sharing your amazing work!!!
Reply
@Muzaaa, Good catch. The baseline script wasn't using RMA for the ATR. I have fixed that.
+1 Reply
well done buddy. this is great stuff
+1 Reply
How to use Metatrader?
Always get me error
Reply
@Arvin_H, It's for Trading View. Not MT.
Reply
Hey man good job! I was wandering if your ATR violation were inverse. Shouldn't they be on the side of the trade? If higher than violation (long) or lower (short) don't trade
Reply
Mrhutqc Mrhutqc
@Mrhutqc, or they just mean don't trade when the are lit up?
Reply
@Mrhutqc, Yeah, they are plotted when ATR > 1. The placement is along the baseline on the other side of price so it's neater.
Reply
Mrhutqc jiehonglim
@jiehonglim, thanks keep up the good work :)
Reply
could you also make alerts for the trailing stop conditions and the continuations signals.
Reply
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