Overview: This is a day trading Indictor works using support & resistance and market trend, it is designed for all type of markets (crypto, forex, stock etc.) and works on all commonly used timeframes (preferably on 1H, 4H Candles).
How it works:
Core logic behind this indicator is to finding the Support and Resistance , we find the Lower High (LH) and Higher Low (HL) to find the from where the price reversed(bounced back) and also we use a custom logic for figuring out the peak price in the last few candles (based on the input "Strength" ). Based on the multiple previous Support and Resistance (HH, HL, LL LH) we calculate a price level, this price level is used a major a factor for entering the trade. Once we have the price level we check if the current price crosses that price level, if it crossed then we consider that as a long/short entry (based on whether it crosses resistance or support line that we calculated). Once we have pre long/short signals we further filter it based on the market trend to prevent too early/late signals, this trend is calculated based on the value from the input field "Factor". Along with this if we don't see a clear trend we do the filtering by checking how many support or resistance level the price has bounced off.
Stop Loss and Take Profit: We csn calculate the SL value by checking the previous support level for LONG trade and previous resistance level for SHORT trades. Take profit are calculated in 1:1 ratio as of now.
Available Inputs:
STR : Define the strength of the support resistance that we calculate. The lower value means less number of candles used for calculating the support & resistance and vice versa
Noise Reduction : Specify what level of trend to use. Using higher value will result script looking using the larger trend (zoomed out trend) and using lesser value will result in using the short trends
Note: For most of the charts you don’t need to change the default values. However, feel free to try it out.
How to use:
Add the script to the chart and once the indicator is load it will display the "long" and "short" entry points.
How to get access:
Send a DM to us for getting access to the script.
How it works:
Core logic behind this indicator is to finding the Support and Resistance , we find the Lower High (LH) and Higher Low (HL) to find the from where the price reversed(bounced back) and also we use a custom logic for figuring out the peak price in the last few candles (based on the input "Strength" ). Based on the multiple previous Support and Resistance (HH, HL, LL LH) we calculate a price level, this price level is used a major a factor for entering the trade. Once we have the price level we check if the current price crosses that price level, if it crossed then we consider that as a long/short entry (based on whether it crosses resistance or support line that we calculated). Once we have pre long/short signals we further filter it based on the market trend to prevent too early/late signals, this trend is calculated based on the value from the input field "Factor". Along with this if we don't see a clear trend we do the filtering by checking how many support or resistance level the price has bounced off.
Stop Loss and Take Profit: We csn calculate the SL value by checking the previous support level for LONG trade and previous resistance level for SHORT trades. Take profit are calculated in 1:1 ratio as of now.
Available Inputs:
STR : Define the strength of the support resistance that we calculate. The lower value means less number of candles used for calculating the support & resistance and vice versa
Noise Reduction : Specify what level of trend to use. Using higher value will result script looking using the larger trend (zoomed out trend) and using lesser value will result in using the short trends
Note: For most of the charts you don’t need to change the default values. However, feel free to try it out.
How to use:
Add the script to the chart and once the indicator is load it will display the "long" and "short" entry points.
How to get access:
Send a DM to us for getting access to the script.
Comment:
Contact us to get indicator trial for FREE
Telegram : @xandercrypto
Twitter : @0xhit
Instagram : @xandercrypto
Telegram : @xandercrypto
Twitter : @0xhit
Instagram : @xandercrypto
• Improved Noise Filter (to filter out manipulations)
• Fake/Weak Pumps or Dumps
• Short Term/Mid Term Trend Reversal.
• Improvements & Misc upgrades.