This system is designed to present a simple view of trending signals. The signals within the Aurora System will alert the beginning of a possible new trend. The signals also indicate when a trend is continuing or weakening, which advises the trader to adjust their stop or exit the trade. If the trend resumes, the system will print a new confirmation of an entry.
When traded properly, using a 2-3 timeframe alignment, the system will display both trending trades, which anticipate a potentially longer move, or catch trades which are likely shorter moves, which at times may be counter trend, so traders will be looking for a smaller profit.
There are two settings, CXA and PBA. CXA is more sensitive to triggering possible entries while PBA is more conservative. The system will display on the indicator which “mode” is set, CXA or PBA.
How to Use:
When the first red bar appears, labeled with a “S”, go short. This is indicating the start of a possible short trend.
When the first blue bar appears, labeled with a “L”, go long. This is indicating the start of a possible long trend.
White bars indicate a neutral or no trend.
This system can be used individually on a single time frame, but reduces chop and noise when used on a combination of time frames such as an alignment between the 3 minute and 10 minute chart for intraday trading.
3 Minute and 10 Minute Alignment Example:
For example: When the 10 minute PBA signal appears (Red bar with “S” or Blue bar with “L”), monitor the 3 minute chart for a confirmation of that signal (Red bar with “S” or Blue bar with “L”) and enter based on the 3 minute chart
At times, the 10m will first print when the 3m is on a retracement. It may take another 3 - 6 min before the 3m signals a valid entry
Exit when 10m PBA signal stops (could be a white bar or just a blank space on the indicator)
Next Bar Alert:
Included is an optional "Next Bar Alert" setting. Since many of these signals benefit from very prompt action at the beginning of a price bar, there is an additional option in Settings to set an arbitrary number of seconds to be alerted before the next price bar opens. Simply set this to a level you prefer, then set an alert in TradingView on the indicator using the "Next Bar Alert" alert parameter.
- Option to choose what to alert
- Any Alert() function added
- Option for custom limit to x seconds from bar open
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact NewCycleTrading for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Community Scripts.
To learn more or to receive access to the Aurora System, please contact us at Charts@NewCycleTrading.com
Warning: please read before requesting access.