Big program for the daily indicator
This one will be free on trial only for a week because it has an immense value and required quite a lot of work. For more info to use it long-term, please DM me
That out of the way, let's dive right in...
This is a huge upgrade from that script Ultimate-Algorithm-Builder-Single-Trend
The Tradingview non-pro users will appreciate it because it allows to add the selected subsequent indicators as well. The Pro users too will likely like this feature equally, what the H*** I'm saying :)
This indicator will transform you into what I was in the past... into a quant trader. You'll build your own trading algorithm in a few clicks only
Which timeframe and which assets ?
Short answer : ALL and ALL
You'll have to define the configuration of the tool based on your capital, psychology. For custom configuration of the tool, please DM me directly so that we can discuss further
But a few words of advices anyway :
- the bigger the timeframe, the lower the inputs (and vice-versa)
- Think about how much $$ you want to make per trade and define your entries from there
- Think about how much $$ you can afford to lose per trade and define the supertrend from there
Your golden configuration might not work for all assets.
You might have to create some tweaks - for instance you found a great config for BTCUSD but it's not working for ETHUSD, then you can create a copy of your BTCUSD chart and set a new config for ETHUSD
What are the indicators inside :
This fantastic tool that I personally use for my trading detects convergence between the following indicators :
Overlay - meaning if the price close above/below a moving average
Trend Signal - to detect if the the DOW law is broken and predict a possible reversal - en.wikipedia.org/wiki/Dow_theory
In other words, it detects if the higher highs or lower lows sequence is broken
MACD or MACD Zero Lag
MA Cross - Cross of moving averages
Ichimoku - if the price closes below/above the cloud
Supertrend - used to detect polarity zones
TSI Shadow - Pullback
You'll also have the possibility to define a pullback on a given MA. That means basically that you'll get a convergence and it will only display a signal when it will pullback first
This will reduce your losses in case of invalidation and maximize your gains as it will enter the trade in a better position.
You can define your pullback either based an absolute value or based on a percent distance from the MA
Pullback value = 100 means I want a 100 pip/USD distance between the MA pullback and the candle
Pullback percent = 2 means I want a 2% distance between the MA pullback and the candle
The percent option is more generic in my opinion but I let the other available for those who might like it
That's it ?
Almost....You can also setup alerts on the indicator signals so that you won't have to stay days in front of the chart to wait for a signal.
You receive the alert, you check real quick if we're not in front of a support/resistance, if no then take the trade. if yes, I advice waiting for a big pullback - better to be safe than sorry in trading
What If you want a custom version ?
Here are a few custom ideas I could add just for you :
- re-enter everytime there is a convergence. So far the indicator is only taking the first convergence. This would give more entries
- add the resistances/supports (fibo, pivot)
- add the take profit targets and trailing stop loss
Please hit me up directly so we can discuss further. Any custom dev will require quite some time so it won't be free
Enjoy that one as I really think it will improve your analyst skills and trading and hopefully make you a few gains (which will make me very happy as I want to help most of you to at least not losing your capital)
- Indicator labels made clearer for the public
Because of the bug, I resetted the trial periods, please start counting the 7 days trial from TODAY
Also, I added two new cool features :
- Display the SMA 20/50/100/200 on the Daily/Weekly/Monthly timeframes on the chart. Those are use as supports/resistances and potentially take profit zones
- Display the Long term HIGH and LOW levels : 4h/Daily/Weekly/Monthly/Quarterly : Generally going above one of those level means an acceleration of the trend
Here's the methodology to set alerts :
I can't share screenshots ... so I'll explain in writing.
First thing first, please read the Tradingview tutorial here : www.tradingview.com/..._and_Managing_Alerts
Now that you know how to set ALERTS, Click on the alert button (the clock and then the + symbol), and select the following for a BUY alert :
Condition : Buy Alert Main Trend
Options : Once per bar close
Expiration time: open ended
Select the alert actions you want
Message: Write a self explanatory message for the asset and timeframe where the indicator is set.
As you'll have to set the indicator once per timeframe per asset, set a message like "ASSET NAME TIMEFRAME BUY ALERT" (example: BTCUSD M30 BUY ALERT)
Also do the exact same process for the SELL alert that will to alert you exit a BUY position if opened or take a nice SHORT
To summarize, one alert for BUY, one alert for SELL. And replicate this once per timeframe/asset
So if you want to capture alerts on BTCUSD for the m30/m15/m5, you'll have 6 alerts to set
Please let me know if that doesn't make sense
Please re-download for the invited users
⭐️ Listed as "TradingView Trusted Pine Programmer"
⏩ Course: best-trading-indicator.com/pages/concepts
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 Daveatt 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.
Warning: please read before requesting access.