Combination of exponential moving averages allow to spot the trend reversal and expansion, Bill Williams fractals and support resistance zones allow to trade without drawing anything. Just follow the trend.
Study your chart. Note which EMA act as support and bounce most of tests. Most often I use 21/34 EMA for new entries.
Most powerful trend indicator is MAWV. Don't try to trade against it. If price above go long. If below - short.
Stops should be placed behind fractals. Breakout entries on price crossing fractals.
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Added Camarilla Pivots. Now this indicator should be enough to plan your trades without drawing a single line. Camarilla pivots work great for setting stink bids or targets.
Support resistance lines switched off by default but remain available. Usually seeing fractals is enough. If you need hints for SR turn them on again.
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Added Bollinger Bands. Turned off by default. Can't ignore such a simple yet powerful indicator. Love to see it squeeze into narrow channel before the explosion. Now you can switch on/off all EMAs at once. Changed EMA200 to EMA233. Its Fib number so look better in the company. Experience show that it doesn't really matter if you watch 200 or 233. Its all about zones and direction. Not precise numbers. Set Camarilla Pivots to Month TF by default. You may switch to week if going to lower timeframes.
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Added Ichimoku Cloud with my favorite settings.
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Ok, added Bill Williams Alligator. Without it nothing would have started =)
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Updated to version 4 (no major changes to script itself)
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Added MA144 (editable value). I find that Fibonacci value for moving average perfect for trend reversal detection. In combination with MAVW and others of cause.
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* Updated to version 5 * New VWAP with bands * New Bollinger Bands
This is great ...Thanks....one question if you have time for answer...Williams Fractal is default settings or it is better to set it on 5 or 9 periods ?Thanks for answer :)
WiseAnalyze
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@Moslavac1508, leave with default setting. This is the way it should be.
magicpenguinx
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Hi! Great Script, could you explain what GIU and SU stand for? Thanks again for a great script!
s0uthpaw
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Great work. I love the combination of fractals and Ichimoku - 2 things close to my heart. How do you filter for a ranging market? As you mention, fractal breaks in choppy markets don’t really work.
WiseAnalyze
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@s0uthpaw, thank you. In choppy market the only option that is left is to buy the bottom of range and sell the top. In case trend forms - sell/buy on retest of broken level. Like if downtrend starts you average cost at the dip and close at breakeven which most probably will be previous bottom that turned into resistance. If choppy switched into uptrend and you sold at the top of previous channel, you buy the re-test of same SR.
DrVahid
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great , one question , should we enter and exit with fractals? my problem is fractals appears after 2 bar in any tf
WiseAnalyze
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@DrVahid, if its an uptrend you enter on breakout of previous up fractal. On downtrend breakout of previous down fractal. In choppy market breakout entries don't work as most of them end up with bull/bear traps.
I recommend to read Bill Williams book "Trading Chaos" or watch his video course where he gives more information on fractals use together with AO and AC indicators. The only difference is that he use Williams Alligator while I prefer to do the same with EMAs.
anoopind
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Great script! Can you pls share the script.
sachinkpshinde
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sirji ek number indicator hai, kay aap is main ema edit kerne ka option daal sakte hai, Aur apne YT channel per iska explanation video hai kay
ikbenrichard3
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Hi! I am using your ema indicator, but only ma and mavw are shown. all the others aren't working. Any clues what the problem is? (ema 233 and 89 are important for me) your have by the way the only channel i sticked to after all this years i am in crypto, so keep up the good work!