[HuD] Multi Color Dragon Pro+

Jun 27, 2021

HuD MultiColor Dragon Pro+ is a trend indicator.

- 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

Oct 1, 2021

Release Notes

A. Add in Table Info which will display :
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

Aug 17, 2022

Release Notes

- Update Alert Function

Feb 27, 2024

Release Notes

- change icon ✴️ for star signal

Feb 8

Release Notes

Update to Version 5