Default settings are for BRENT, intraday . Trend determination: 2 similar sequenced signals indicates srart trend: "BUY" "BUY" Bullish trend, "SELL" "SELL" Bearish trend Use script for trend deals (for bearish trend: SELL means go into trade, BUY means take profit; for bullish trend: BUY means go into trade, SELL - take profit). 2 Consecutive similar signals, like "Buy" "Buy", with gap between them indicate probable trend reversal. Stop Loss recommender on High of "signal" bar for SHORT and on LOW of "signal" bar for LONG Script may be used for different types of trading. For intraday: period: 960, protection: 180 For 2-3 day or weekly positions: period:4W, protection 1D Fox indices (DXY, for example):period:1W, protection 360
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v 5.0 version contain ability to set different periods, protective time now is in candles for current grahp timeframe (default 0:gives signal for current candle, if you set 1: signal was for previous candle but you see it on current one). Bug with repainting not fixed yet (I'w working on it).
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45 and 180 minutes are added in period settings
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Now oprtions are: Period is period of calculation ( in minutes or D or W) - use average time between 2 BUY signals on bullish trend area (signals are start and end of one sidestep) - for UKOIL it approximately 16 hours for 1 hour graph ( in minutes or D or W) Verification period( in minutes or D or W) is used for decreasing repainting - use average time between 2 BUY signals on the shelf area(signals should be on one side of sawtooth) - for UKOIL it approximately 3 hours Protective time (candles) - signal shift (if you are waiting confirming candle) , default is 0
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4h (420 minutes) added to time period
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Minor algorythm improuvings
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New periods: 90min, 2D,3D,12 W, 16W and 24W are added
Repainting is always an issue for most "good" looking indicators and most beginners dive in too hard that they regret later.
This script can be a resourceful price action analytical tool. Dont follow the buy and sell signals Blindly
I suggest making the timeframe lagging, so this way it removes the repainting. I know it wont be the same but script fans love legit than catchy
open4profit
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IS THERE any way we can set alerts for buy and sell
vinikumar72
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@open4profit, sir aap bhi aur yaha par bhi .........aap to indicater banate ho...vo bi yaha pe
hs
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akilpen
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please send me code of this indicator...
nilanjan62
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most of the time it is giving sell signal but the trend is going upwards, why is that?
OlgaObara
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@nilanjan62, because of 'security' function of pine. Clever+ good for flat, not for trend (or increase your timeframe)
SaddamRiar
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@OlgaObara, So it is more suitable for Flat (Accumulation Stage/Side Waves) if it's strong up trend or vice versa we should not use this indicator but rather use it when it is flat, Please correct me for better understanding if I am wrong.
m5253
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maam when will your next update come, which will not repaint. And what will be d best settings for a 5 min chart for indian index's