JustUncleL

Candlestick Trend Indicator v0.5 by JustUncleL

Requested Update to this Indicator alert project. In this update I have added the option to be able select which Price Action candles you want included in the display and the generated alarm Alert. Other changes also included in this update:
  • Also added a Price Action candle for "Last Fractal S/R Break", this also a good continuation indication.
  • Added option to select a different moving average types for directional MA line.
  • Modified some default settings, using HullMA instead of Zero Lag EMA and standard MACD settings(12,26,9).

Description:
This is a trend following indicator and alert for Binary Options based on Candlestick patterns and trend line -
NOTE: original system was a forex trading system.
This code combines a number of indicators to create an overall trading strategy.
The indicator recognises and displays some useful candle named defined patterns that are used to support trend continuation:
Also recognises main Price Action candles from ChrisMoody ( CM             ), the four(4) price action patterns are colored coded bars:
  • Yellow = Inside Bar - breakout/continuance
  • Orange = Outside Bar - breakout/continuance
  • Aqua/Fuschia = Up/Down Shaved Bars - Buying/Selling pressure
  • Red/Green = Possible reversal PinBars - Reverse Down / reverse Up

The highlighted candles (maroon and darker green) represent the defined PA patterns that have been confirmed following the current trend direction that is indicated by the Hull MA(20) line (can select a different type of MA, or even disable) and confirmed by MACD direction (can be disabled). The confirmed Alerts are indication by green (buy) and red (sell) dots at the bottom of the chart. An alert is generated from this selection for the alert condition of the alarming system.
The fractal upper/lower break lines are also draw, if the (optional) last fractal break line is broken by a highlighted bar then this indicates a stronger trend conformation.
The MACD indicator MACD DEUTER 2 colour(12,26,9) you can visually see the MACD histogram colours with MACD direction - needs "MACD DEUTER 2 colour" indicator.

This multi-indicator set up is suitable for 1hr, 4hr and daily charts with 1-4 candle expiry.

References and Inspiration from:
  • Fractal Levels by RicardoSantos
  • Almost Zero Lag EMA
  • Candlestick Patterns With EMA by rmwaddelljr
  • CM_Price-Action-Bars by ChrisMoody
  • http://www.forexstrategiesresources.com/candlestick-forex-strategies/1-candlestick-trend/
  • "Scalp Jockey - MTF MA Cross Visual Strategizer by JayRogers"

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hello, i'm not very good with pine and I have question please. could the fractals be used for alerts?
Reply
@akulus, Yes, they are also tradable alerts when the Price breaks the Fractal line in the Trend direction.
Reply
akulus JustUncleL
@JustUncleL, sorry, just to be sure I understand. the alert should be: price for my pair of choice - crossing down - bottom fractal for buy and, price - crossing up - upper fractal for sell. the fractal lines are the two shapes or the two plots from the alert menu? thank you very much.
Reply
@akulus, Yes, there is an option to show signals on Fractal breaks in Trend direction: "Use Fractal S/R Cross Patterns" set to true.
Reply
akulus JustUncleL
@JustUncleL, your script is a great source of learning, I have another question please. what are the little triangles (red and green). they are also something related with fractals, aren't they?
Reply
akulus JustUncleL
@JustUncleL, never mind, I understand now. they are the new fractal line level. thank you very much.
Reply
i have 4 100% accurate binary option 1 min trading method . know i need to create some indicator for that can you help me . my email id is viprinson@gmail.com and my contact is +918754916662
Reply
cristian.d VinobaPrinson
@VinobaPrinson, you lost me at 100%
+5 Reply
lorenzopanico5 cristian.d
@cristian.d, ahahha true
Reply
Hi
I am trying to download the indicator but with no success. could you please post a link?
thanks
A
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