One of my mixed approach strategy indicators which include's:
- Ichimoku using much faster settings. (ECC-11) - Supertrend
Whilst both Supertrend and Ichimoku are quite reliable, they do sometimes provide false signals. By combining both indicators, trading when both agree, it reduces the number of false alerts.
Using this indicator is simple. If the lifetime line is green then buy. If red then sell and when black don't trade. So...
Green Line - This strategy is in a buy position Red Line - This strategy is in a sell position Black Line - DON'T TRADE
The trader's approach is simple, when all indicators are green or red, then take the trade. As soon as one indicator changes, then re-evaluate using your normal process, such as price action, to determine whether to close the trade or continue.
There are also some alerts for opening and closing positions.
If you wish to make some changes or discuss, please don't hesitate to message me.
Hi - really like your indicator. Would you please consider adding multi timeframe (MTF) feature to it? Would really take it to next level. Let me know what you think.
ironymemz
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thanku
AP-85
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hi
good script.
can we not have overlay of the Supertrend alongwith Ihchimoku and VWAP?