[HuD] Multi Color Dragon Pro+
- It measures the strength of Bull(Uptrend) and Bear(Downtrend).
- Bull strength is represented by red bar.
- The higher the red bar, the stronger is the trend (Uptrend).
- If the red bar exceeds Level 50 and follows by continuous increment, it means that stock is ready to make strong uptrend movement.
- If red bar is less than previous red bar, the color will change to pink. This to indicate a decrease in momentum.
- The uptrend is considered weak when the black line is higher than red/pink bar.
There are 3 "Buy Signal" from this indicator. I call it SBW :
1. S = Star Icon = is Bottom Catch signal, or also known as Buy on Dip.
2. B = Blue Diamond = when red bar crossover black line
3. W = White Dot = when Golden Cross happen between black line and cyan line ( Bull crossover Bear )
Note :
When trader make entry from these signal (SBW), trader needs to consider to exit the trade if the price BREAK either :
a- Middle candle where signal SBW trigger ( 1st consideration to exit ) or
b- Open Price where signal SBW trigger ( 2nd consideration to exit ) or
c- Low Price where signal SBW trigger ( MUST exit )
Others :
- Black Line = moving average of Bull
- White Dot = moving average of Bear
- Alert for 3 signal provided in script
1. Red Bar ( Banker ) value
2. Moving Average Banker ( Black Line )
3, Moving Average Hot Money ( Cyan Line )
4. Signal Trigger = either 💠, ⭐ or 🔘
B. Improve Alert function
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 Hud_Hud 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
Telegram Channel : t.me/HudHudAlert
TV Indicator : my.tradingview.com/u/Hud_Hud/
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 Hud_Hud 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
Telegram Channel : t.me/HudHudAlert
TV Indicator : my.tradingview.com/u/Hud_Hud/