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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No sir, i am just looking at a video on that... sorry for being novicee :P
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Sir, could you please code to create a sound alarm upon hull MA color change ... kindly let me know sir...
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@novicee, Have you learnt how to utilise the TradingView Alarms? Scripts do not ring bells, they can send message to the Alarm system, where you make your Bells etc.
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I also love your Big Snapper script .. Would you please point out to me how to get those alarms ringing when those green or red bars form..
Also would it be possible to trigger a sound alarm each time the Hull changes slope (green to red) .. Your help would be greatly appreciated :)
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@novicee, Please place you question regarding another script in the comments of that script.
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Sir, what do i have to do to get the alarm sound (it should work in replay mode i suppose) when candle closes above fractal points..
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@novicee, Alarms to not work in replay mode.
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@novicee, An alert message is sent to the TV alarm system whenever any selected pattern event occurs, including Fractal Breaks if selected. You can pick up the Alert in the TV Alarm system, however, there is no individual pattern alerts.
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Hi UncleL,

First what an amazing script. Thank you so much for making this public.

Second, I'm new to Pine but trying to code an alert for when the price moves a certain percentage from the previous price direction change. I want the alert to be able to trigger a stop loss or a limit/market order. For instance I'd like an alert to place a long/short order at the previous candle close, and at the same time I want the alert to place a stop loss order X% above/below my entry price, and at the same time place an exit/take profit order at Y% above/below my entry price.

Is this possible with this script? If so, could you please help me understand how to go about amending your script to incorporate it?

Thanks so much!
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JustUncleL betabeaver
@betabeaver, Currently Pinescript does not offer any built-in automation features, so it is unable to place any orders on your broker directly. Automation is only possible through 3rd party addons like "Autoview".
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