i have taken this from Chart Commando, great work.(Big thanks to him too.)
Good script for trend trading.
for how to use this indicator please see below video or search--
Chart Commando on youtube (16may2020)
i m not advertising anyone.
just sharing info.
Using this indicator plus 2 other indicator we can make wonderful working Strategy.
i use following indicators.
2) Swing Charts V1 Darvas Box V0.1 by RicardoSantos
3) RSI+ADX+DI+( ) by Killer-Ilja
Now how to use this combo...
Again big thanks to Original maker of this Indicators.
Price Action Channel (PAC)
When PAC above ribbon then ride long position in uptrend up to trend change
When PAC Below ribbon then ride Short position in downtrend up to trend change
if price is above 3 big , that is yellow ,brown & green then only trade Buy side position.Wait for retracement to ribbon.
if price is below 3 big , that is yellow ,brown & green then only trade Sale side position.Wait for retracement to ribbon.
Price Action Trading
This Price Action Trading indicator is a complete trend following system with strict entry, exit and trade management criteria. The indicator is optimized for all time frames.
The indicator was built to solve the problem that all new traders face.This Indicator created for pure price actions with Slow / Medium / Fast -EMA
The signal candle is printed when the price is
Type: moving average type ( )