This script is a simple implementation of a QFL (Quickfingers Luc) base scanner.
This QFL base scanner uses a different approach to some other QFL base scanners that are on TradingView. Other TradingView scripts look for a candlestick pattern of two lower lows followed by two higher lows combined with an increase in volume. This can generate some unexpected...
What is QFL trading strategy?
QFL stands for Quickfingersluc, and sometimes it is referred to as the Base Strategy or Mean Reversals. Its main idea is about identifying the moment of panic selling and buying below the base level and utilizing Safety orders.
What is Base level or Support Level?
Base level or Support Level refers to the lowest price level that...
This Strategy provides the Demark 9 indicator and EMA50 combined.
The Setup Indicator was created by Tom Demark and this is one of many steps in his Sequential Indicator.
This strategy was designed for minor trend reversals and as you can see in my example chart, it gives many more buy and sell signals.
Not all are perfect of course but it does a pretty good...
Backtesting compatible QFL pine script w/alerts
This version of QFL was made based on this one:
I made the following additions according to my requirements:
- I need to use pine script 4
- I needed to avoid repainting issues so I'm not calling directly security, I'm using the wrapper function.
- There might be still repainting...
This bypass indicator triggers plots 1 when the price is above the QFL base.
This can be used as a "bypass" by a consumer indicator that can skip trades when the bypass is triggering.
You can use it for long and short strategies, to prevent using buy or sell signals in areas were the price is either overextended.
QFL works better in 1, 2 or 4 hours timeframes.
This version of QFL is based on a script from ralphhorkup:
I made a few adjustments:
1) no issues with repainting caused by calling security function.
2) migrated to pine script 4
Everything else is the same.
I'll be adding alerts soon.