TP/ SL are based on Tom Demarks price-projects:
If a trendline-break occurs, look for the lowest value under the trendline and add the distance between that low and the trendline to the point where the trendline was broken.
The green-lines currently show the TP level, redlines indicate the SL level
Implemented Supply Line Qualifiers 1 and 2, still doing research on qualifier 3
- now you can choose to apply trendline-break qualifier 1 and/ or 2 or just use a simple trendline-break
Added alertconditions for LONG ENTRY, TP and SL
- TD demand points/ lines are visualized
- sell signals
- supply/ demand Qualifier 1-3
- TP Supply: If price of (X+1) bar closes below the supply line
- TP Demand: If price of (X+1) bar closes above the demand line
Should be fine now for Level 1 Points but there are still visualization issues with level 2 and 3
- fixed repainting issues (Lvl 1 for now): TD Points are only plotted after the current was closed
- Trailing-Stops based on Peter Brandt's 3 day trailing stop rule ("3DTSR")
- only implemented for long-trades
- currently only the first two of the three constraints are implemented
- there is a black X on the chart showing the trailing stops
- the trailing stops currently are only visualized - there might occur multiple trailing stops altthough the trade should have been closed already
The refactoring was made only for Level 1 Points for now, after testing is complete, I will implement the behavior for Level 2 and 3
- Implemented long/ short signals
- TP/ SL based on a customizable risk/ reward ration (R:R) or a trailing stop rule (3DTSR)
- alertconditions for buy-/ sell, TP, SL and "early exits"
Should now work perfect with AutoView.
some minor bugfixes
- Added new TP style: R:R+3DTSL - this combines both styles with having a SL via the R:R approach while using 3DTSL for TP/ trailing stops
- bugfix: nomore TP/ SL signals at the same time
RSI Filter added
There's a special introductory offer available ...
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 stefcom for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Public Library.
Warning: please read before requesting access.