This script uses the 10 and 20 period EMAs on the higher time frame to determine the trend and 14 period Stoch RSI from current time frame to determine entries in the direction of the trend.
Available Settings : 1. Turn On/Off Trend - This will show you the bearish trend in a red background and the bullish trend in a green background. Redundancy only, the indicator is already calculating trend without this setting. 2. Stoch RSI settings - These are set to default. The SRSI sensitivity is set to 15 for oversold and 85 for overbought, and this cannot be edited. 3. Target and Stop Loss offsets - You can modify this according to your Reward:Risk.
Known Issues: -Old entries do not erase if the stop loss was hit
Pros: 1. Very useful in scalping in the direction of the trend 2. Can be used on ANY time frame, across ANY asset class (however I recommend using this between the 5 minute to 30 minute time frames for the most profitability, with the 15min being my personal favourite) 3. Current average profitability stands at roughly 65% across any mix of trends - this will be proven in the strategy to be released later this week)
Cons: 1. Unable to call any sort of trend reversal 2. Does not account for stop runs on lower time frames (1min-3min but I don't recommend using those time frames anyway)
Future Plans: -Implementation of SRSI divergences
If you have any criticism or suggestions, please do comment below.
Release Notes
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Code edited to allow for float values in stop losses and targets. Please edit the stop and targets in the settings if you want to scalp a different asset than BTCUSD.
I will take this opportunity to also inform you that OneX operates as per a strict set of Terms and Conditions, that may be found on the OneX discord at the #terms-and-conditions channel. Any losses you may suffer due to this indicator cannot be attributed to the author or to OneX.
Please be responsible with your leverage and position sizing, stop losses and targets, and back up all entries using other forms of technical analysis to boost your profitability.
Release Notes
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Added following features:
1. Targets and stops can now be set as percentages, and default values of targets are 1% for the First Target, 2% for the Second target, 0.7% for the Stop Loss (This can be changed in settings but I recommend these settings for BTCUSD). Setting those manually is no longer required, and as a result the indicator should now automatically work on any scale and size.
2. Added Alerts, which allow you to set up buy and sell alerts. Pinescript doesn't allow for detailed alerts that would give targets and stop losses, but in due time I should be able to integrate a Telegram bot into the script.
Release Notes
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Labels corrected in settings - no more guessing, modifications are now easier.
Release Notes
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BBands have now been integrated!
A green up triangle signals a buy whereas a red triangle down signals a sell. BBands have a slightly lower profitability than my own strategy, therefore this component should be used as a confirmation/reinforcement signal. Generally speaking, a green arrow at the same price as a Buy either before or after is to be considered as a strong buy signal, and vice versa.
I'm also working on a tutorial video for the indicator, that has me explaining everything in the indicator as a complete foolproof guide.
Release Notes
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Minor update - Trend shown as the background inside BBands for maximum visibility!
I'll take this opportunity to bring you a full tutorial of the indicator, including how and when to use it!
Been a nice couple of days, in terms of scalping. Here's a minor update:
For beloved altcoin scalpers, the settings have been fully revamped to allow for a cleaner interface and better control: 1. It is now possible to toggle the buy and sell indications - ideal if you want to trade altcoins but cannot short them 2. Other custom settings that allow you to tweak the working of the indicator - see note below
You can simply copy paste values from the sheet into your chart, and if you need me to backtest any other alt (only from a scalping point of view), please drop me a message either on TradingView or Discord!
Release Notes
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First off - my apologies, I know its been a long hiatus. Many overdue features will be added over the course of the next two months - this is the first.
Introducing - OneX Clouds!
Please go to the settings and enable them. These are a logical rewriting of the Ichimoku Clouds - only the colors are recognizably similar, but everything underlying is changed. Calculation is now on the basis of fibs - I recommend the default setting but feel free to experiment as per your requirement. In due time, I will write a signals script that will be merged with the indicator.
For now, price in the green zone and below it is heavily oversold, and price in the red zone and above it is heavily overbought. In an upward trend, the green zones are "ideal" longs and in a downward trend, the red zones are "ideal" shorts. The strength of this addition is its usability in a sideways setup - when price is sideways, the top and bottom zones function as a range which you can long and short.
Please feel free to contact me here or on Discord for clarifications!
Release Notes
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Pushing bug fixes - do check out the settings, other things have been added too!
Release Notes
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Minor bug fixes in preparation for v1.1 roadmap.
Roadmap as of now:
1. Addition of overlayed divergences (RSI,SRSI) - November update 2. Togglable Ichimoku with signals - December update 3. Price Volume based signals - January '19 update 4. Toggle-able options trade recommendations - April '19 update 5. Autosettings (Volatility based RR) - July '19 update
Excellent tool, you have to use it alongside your TA, but used with a modicum of intelligence it is a pure money maker.
cmeadmore
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Spent today doing a paper run of the indicator and have been in the plus for every trade. A quality script that can be tweaked as per your risk/reward ratio. Looking forward to using it for real. Solid job!!
I work all day, I have no time to check my charts every moment of the day, nor am I 100% confident in my T.A... I decided today to follow the S signal and got out of my position before this (3/29/18) drop. My fiat is safe and I'm not kicking myself for not selling sooner.. GREAT indicator, highly recommended!! A+
bumbledore
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Works extremely well, only downside is that I don't even get to use my own brains... Shows both TP's as stop losses. This is golden man!