Blue Sky Day No Repaint

Blue Sky Day No Repaint

This indicator is a trend following indicator. It is plotted on price chart and the current trend can simply be determined by the background color.
It indicates the direction of the price movement in a market that is trending, that is following any particular path. It is plotted in stock price charts for traders & investor to see marked current trend which is shown in red background when prices have dipped and green background and when prices have risen.

Support and Resistance

It offers support and resistance levels for traders to enter and exit trades.
For example when the background color is in green, when prices dip towards the indicator, you can enter or go long at this level, which doubles up as support level . Similarly, when the background color is in red, price points nearing or touching the indicator can act as levels of resistance.
This indicator can be used on any market. You can use standard candlesticks or Heikin Ashi Candles (recommended) for getting better accuracy.

How to use
When the background is blue "buy", when the background is red "sell".

Does this indicator repaint?
No, it doesn't.

Can we set up alerts?

Yes, we can.

Can this be used for algo trading?

How to get access to this indicator?
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Invite-only script

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 BlueSkyDayStrategy for more information, or follow the author's instructions below.

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