OPEN-SOURCE SCRIPT
Updated Inside Candle
This is a inside candle strategy based trading identifier. The basic idea is this
1. It will identify entry point if the previous candle was fully engulfed under the one previous
2. Then depending on the trend and your other indicators/thought process - you can take an entry
3. It is normally a good idea to keep the low of the bigger candle as your SL
1. It will identify entry point if the previous candle was fully engulfed under the one previous
2. Then depending on the trend and your other indicators/thought process - you can take an entry
3. It is normally a good idea to keep the low of the bigger candle as your SL
Release Notes
added more commentsRelease Notes
Added condition of sma(high,9) as that gives better entry. Release Notes
Added more comments for user understandingRelease Notes
Separated the long and short entriesRelease Notes
1. Added a trigger pointer to all inside candle formations, irrespective of their 9 sma placement2. Based on available and repeated patterns, marked the long and shorts with higher success probabilities, primarily based on 9 sma, and candle wick size
Release Notes
Shortened the on screen text to make it visually cleanerRelease Notes
Added 9 sma h crossover on 20 SMA marker Release Notes
Added short crossover as wellOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.