- Also added a Price Action candle for "Last 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 and standard settings(12,26,9).
This is a trend following indicator and alert for Binary Options based on patterns and -
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:
- Bearish + PinBars
- Dark Cloud Cover
- Piecing Line
- Bullish + Harami
- Bullish + Candle
- Bullish + Last S/R break
- Yellow = - 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 upper/lower break lines are also draw, if the (optional) last break line is broken by a highlighted bar then this indicates a stronger trend conformation.
The indicator DEUTER 2 colour(12,26,9) you can visually see the histogram colours with direction - needs "MACD DEUTER 2 colour" indicator.
This multi-indicator set up is suitable for 1hr, 4hr and with 1-4 candle expiry.
References and Inspiration from:
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!