CapnOscar

CapnsSurfer

This is a simple RMA Trend that may help you decide for SL or TP. Similar to CapnsBands this uses Donchian Channels .. but remember. Your Trade Your Money

Howto Read Capns Surfer - I will write more later
First of all this is NOT a BUY or SELL indicator. However with this you can define sweet spots for ENTRIES, or TRAILING STOPS and recognize the trend.

Sweetspots
snapshot
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//@author CapnOscar 
study(shorttitle="CapnsSurfer", title="CapnsSurfer", overlay=true)

//Define Variables 
uprsi = 51
dorsi = 49

//MajorTrend
major = close, majlen = input(84, minval=1, title="MajorTrend RSI" )
majup = rma(max(change(major), 0), majlen)
majdo = rma(-min(change(major), 0), majlen)
majtrend = majdo == 0 ? 100 : majup == 0 ? 0 : 100 - (100 / (1 + majup / majdo))
//ColorMajorRSI
majcol = majtrend > uprsi ? lime : majtrend < dorsi ? red : yellow

//Define Donchian Bollinger
back = input(1, minval=0)
price = close
range = input(2, minval=0)
lower = lowest(majlen/range)
upper = highest(majlen/range)
basis = avg(upper[back], lower[back])
trend = rma(price, majlen)
l = plot(lower[back], color=silver)
u = plot(upper[back], color=silver)
MajTr = plot(trend[back], linewidth= 4, color=majcol)
fill(u, MajTr, color=blue, transp=95)
fill(MajTr, l, color=red, transp=95)

//Define Mas
hiout = rma(high, 3)
loout = rma(low, 3)
//Define 20Mas
hiout2 = rma(high, 20)
loout2 = rma(low, 20)

//ColorTrueMa
truemacol = hiout > trend ? green : loout < trend ? red : yellow
truema = hiout > trend ? loout : loout < trend ? hiout : avg(hiout,loout)
truMa= plot(truema, color=truemacol, linewidth= 1, title="TinyTrend")

//ColorTrueMa2
truemacol2 = hiout2 > trend ? green : loout2 < trend ? red : yellow
truema2 = hiout2 > trend ? loout2 : loout2 < trend ? hiout2 : avg(hiout2,loout2)
truMa2= plot(truema2, color=truemacol2, linewidth= 1, title="TinyTrend")

fill(truMa, MajTr, color=aqua, transp=90)
fill(truMa2, MajTr, color=blue, transp=90)
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