Core Dimension is a powerful trading indicator that generates accurate signals for all instruments types, markets and time frames.
The algorithm´s script is based on a trend-following momentum formula for precise prediction of price direction, and has the ability to efficiently eliminate irrelevant noise. The applied filter method reduces the impact of random price fluctuations and helps in identifying changes in market trends.
Traders can use the indicator for various trading approaches, including Long-, Short-, Scalping-, and Swing trading strategies:
Settings
The default settings work well for most instruments, but it's strongly recommended to adjust the settings to increase signal accuracy. It's important to note that the default settings have a bias towards upward momentum.
You can try our custom settings or tweak the parameters to suit your desired level of noise tolerance:
Factor - the "Factor" parameter is a constant in the calculation of the volatility smoothing filter and can be fine-tuned to achieve optimal signals for the instrument being traded. Higher values usually result in smoother signals.
Period – the "Period" variable determines the length (number of periods used) in the calculation for the trend-following momentum technique and can be adjusted to optimize signal generation. Generally, higher values increase sensitivity to price movements, while lower values reduce sensitivity and generate fewer signals.
Adjustment – is a parameter in the formula that makes Core Dimension uniquely dynamic in generating accurate signals with minimal noise. Experimentation with the parameter values is recommended, with a starting range between 0.9993 and 0.9999.
Additional functionality: To assist traders in making informed decisions, Core Dimension also features a confirmation filter. The Adaptive Trendline provides traders with a good visual overview of when to enter or exit a trade, and can be used in combination with other indicators to determine when to take profit and execute stop-loss.
How to Use the Indicator:
1. Install the indicator on any instrument and time frame of your choice, adjusting the settings as needed. 2. If a “Buy” signal is confirmed (represented by a green triangle, up ▲) –> this indicates an upward short-term trend and you may consider entering a Long position. 3. If a “Sell” signal is confirmed (represented by a red triangle, down ▼) –> this indicates a downward short-term trend and you may consider entering a Short position – (or exiting a Long position). 4. Exit the trade also –> when you have hit your desired profit target/limit or stop loss (determined by user). IMPORTANT: Wait for candlestick close in order to ensure that the signal is confirmed!
Exactly how the Core Dimension indicator is used may vary among traders. When interpreted correctly, it allows traders to enter new trades in the direction of a developing trend or increasing momentum, and exit before the trend reverses. It can be used as a scalping tool in shorter time frames, or as a timing indicator for day trading or swing trading strategies.
The indicator has been developed to work with regular bar candles, but using it with Heikin Ashi candles is also recommended as it can help to filter out noise and capture high-quality trends.
⚠ If you are new to trading and/or technical analysis, it´s recommended to start with a demo account (paper-trading) until you become familiar with how to use the indicator.
Core Dimension is a non-repainting indicator, meaning that its signals stay constant even after the bar closes. When using the Alert function, we suggest to use the “Once Per Bar Close” configuration and wait until the bar has closed to confirm the entry or exit signal.
The indicators in general are good , but I noticed most of the indicators are changing the entry point . I mean , the indicator gave a buy sign , after 2 minutes the sign will go away like nothing happened, so , how?
TradingCanyon
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Signals are displayed on the TradingView chart (on the current price bar) as soon as the underlying algorithm meets the criteria for a price signal or trend change. During live markets, the price of the current bar is constantly changing - from its opening to closing, which may cause indicators to show signals that appear/disappear during the printing of the current bar, just like any other TradingView indicators. Since the final close price of the bar is not known until the end, it is required to wait for the "bar close" to confirm the signal.
Our indicators are 100% non-repainting, ensuring that the given signals are accurate and reliable. The signals do not change once a price bar has closed. Only confirmed signals will be displayed on the chart for historical bars.
To use the "Alert functions" in TradingView, it is recommended that you select the "Once Per Bar Close" option. This option triggers the alert every time its condition is met at the bar's close.
Request to add victormvf - Signed up for trial - Thank you.
KiOB
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for me as a scalp trader which indictor is better for scalping , Scalp Trader Pro or other ones ?
TradingCanyon
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Scalp Trader Pro is a powerful indicator that generates accurate signals. It is highly sensitive to price changes, which results in numerous signals. As a result, we recommend using it for experienced traders or on higher time frames. Furthermore, we suggest using it with a filter, such as a moving average, or a second indicator, to eliminate false signals.
We offer several indicators that can be useful for scalp trading strategies if used correctly. In addition to Scalp Trader Pro, we recommend the following indicators: - Core Dimension with settings of: 0.0008, 2, 0.9998/0.9999 - Sigma Control (Long Only mode) with settings of: 0.025, 4 - Dynamic Force with settings of: close, 13, -2, 6
These indicators can complement Scalp Trader Pro and further enhance the effectiveness of your scalp trading strategy. Experiment by adjusting the settings to improve signal accuracy according to your trading style and strategy. Since every financial instrument has its unique characteristics and volatility profile, it's essential to fine-tune the settings to improve performance.
We also recommend enabling the "Show Trend Cloud" bands and the "Show MA" signal line from the Dynamic Force indicator to display whether the price is in a short-term up/down trend. If the price > MA signal line (90 EMA): focus on long positions If the price < MA signal line (90 EMA): focus on short positions
cfinney01
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How can I activate this indicator?
TradingCanyon
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@cfinney01, The TradingCanyon indicators are "Invite-only scripts", which means that the code is protected, and access is granted individually to each user. We are pleased to offer a 7-day free trial of our Starter (monthly) plan. To begin your free trial and gain access to our indicators, please sign up at: tradingcanyon.com/pricing/
Our free trial includes all indicator scripts, and you have the flexibility to cancel your trial or subscription online at any time.
Should you have any further questions, feel free to reach out to us at: info@TradingCanyon.com
cfinney01
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@TradingCanyon, thank you I appreciate you reaching out. The link was more than suffice. Thank you! "GO GREEN OR GO HOME!"
marconaki
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Is there a way to calculate at what price a stock will flip from sell to buy