stocktrader15

T3 Entry and Exit

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I made this indicator to give clear entry and exit signals plus give signals when I should add onto my trades with no repainting!! The bottom indicator is set to 34 (the default settings). This gives me my entries and exits as shown by the green and red arrow. I use a 14 period setting for my signals to add onto my trade. If I am in a long trade as shown in the chart above and the 14 period T3EE has a fast line cross under the slow line and then a cross back over and I have not had my signal to close trade yet on the 34 period T3EE I will add to my long position. I cut the size of they order in half with each addition to my position. So if I entered with 2 lots I would add 1 lot with my first signal to add (shown by orange arrow) and then .5 lots with the second signal to add to my position and so on until it is time to close the position. If you day trade avoid entering positions between 4pm est and 9pm est. and the larger the ranges and the more trendy the market the better. Good Luck!!!

If you have any questions let me know :)
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study(title="T3 Entry and Exit", shorttitle="T3EE")
Length = input(34, minval=1)
hline(0, color=gray, linestyle=line)
xPrice = close
xe1 = ema(xPrice, Length)
xe2 = ema(xe1, Length)
xe3 = ema(xe2, Length)
xe4 = ema(xe3, Length)
xe5 = ema(xe4, Length)
xe6 = ema(xe5, Length)
b = 0.7
c1 = -b*b*b
c2 = 3*b*b+3*b*b*b
c3 = -6*b*b-3*b-3*b*b*b
c4 = 1+3*b+b*b*b+3*b*b
nT3Average = c1 * xe6 + c2 * xe5 + c3 * xe4 + c4 * xe3
nSlope = nT3Average - nT3Average[2]
Res1 = nSlope
Res2 = nSlope[1]
Res3 = nT3Average - nT3Average[1]
plot(iff(Res2 > 10 or Res3 > 10,na, Res1), color=blue, title="Slope")
plot(iff(Res2 > 10 or Res3 > 10,na, Res2), color=red, title="Slope2")
xover = cross(Res1, Res2) ? avg(Res1, Res2) : na

plot(xover, style=circles, color=green , linewidth=4)
band2 = hline(.0003, title="Upper Line", linestyle=dashed, linewidth=2, color=red)
band1 = hline(-.0003, title="Lower Line", linestyle=dashed, linewidth=2, color=lime)
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