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weeklystockcharts
Apr 25, 2020 10:45 AM

Candle Type w/2Up + 2Dn v2.0 

SPDR S&P 500 ETF TRUSTArca

Description

This script builds on Candle Type w/2Up + 2Dn by incorporating signals for inside + up, outside + up, + rev strat set-ups. All of these can be turned off if they compete w/ other indicators or just clutter up the chart.

Briefly, the script works based on #thestrat developed by Rob Smith and the 1-2-3 bar script coded by @Crinklebine. Candle Type w/2Up + 2Dn is a "fork" of @Crinklebine's excellent indicator. I find the visualization of U-D-I-O (up/dn/inside/outside candles) easier to scan through 100's of charts than 1-2-3's. This is just personal preference, but they work based on the exact same principles. Performance is enhanced with a trend filter like @boardriderb's "TC" script or similar timeframe continuity filters based on the #thestrat developed by Rob Smith. I also prefer an ATR-based trailing stop; Rob recommends pSAR for trailing stops.

Together these indicators form a power system, but users are still responsible for their own trade management, entries & exits, risk profiles, stop loss, etc.
Comments
rhaynes82
Thanks for sharing. Could you also share the script to get the H,D,W,M,Q indicator to show up? Thanks again
Agent87
Can you add code for . 2up, 1, 2dn and 2dn ,1, 2up
loafer57
Thanks for the script. Just found Rob's stuff and trying to learn his methodology.
ganesh_s
thanks.....if it possible to share H,D,W,M,Q script...
raychartss
Thanks a lot :)
Joychy
hi thanks :) do you think is possible to reduce the font of the U D I O maybe 1 or 2 point lower ? thanks a lot :))
Lynoo
thx for sharing! Also interested in the H,D,W,M,Q indicator. Any tips @weeklystockcharts :)?
eleutron298
@Lynoo, look for "TC"
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