Nehan indicator XXX
This indicator is an ATR-based trend indicator with an EMA filter,
specifically designed to enter only during active trends.
It aggressively filters out ranging markets and counter-trend signals,
focusing exclusively on price movements with strong continuation potential.
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🔹 Indicator Features
✅ ATR-Based Trend Detection
• Automatically identifies bullish and bearish trends based on
the relationship between price and the ATR trailing stop
• BUY / SELL signals are generated at trend reversal points
✅ EMA Trend Filter
• Uses EMA20 and EMA50
• Bullish trend:
EMA20 > EMA50 AND price above EMA20
• Bearish trend:
EMA20 < EMA50 AND price below EMA20
→ Suppresses signals that go against the dominant trend
✅ False Signal Reduction
• Dual filtering with ATR × EMA
• Reacts only when a clear trend is present,
significantly reducing noise during range-bound markets
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🔹 Recommended For
• Traders who struggle with trend-following
• Those who can’t clearly identify pullbacks or retracements
• Traders who often counter-trade during strong trends
• Anyone looking for a clear directional filter for discretionary trading
→ Can also be used as a “confirmation tool” for entry direction.
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🔹 Suggested Usage
• Trend-following on 5-minute / 15-minute charts
• Combine with pullbacks to EMA20 or EMA50
• Accuracy improves when used alongside
Ichimoku Cloud or higher-timeframe market structure
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⚠️ Disclaimer
• This indicator is not a standalone holy grail
• Market context (trend vs range) must always be considered
• Best used as a support tool for discretionary trading,
rather than a fully automated entry system
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact mikadogold488 directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact mikadogold488 directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.