Rules of Trading with ZTrend
1) Use this indicator in multi frame for superb results.
2) If you are a Short Term trader, then use 2 hourly and combination. So after a downtrend, buy when 2 hourly candle turns green and wait until Daily candle also turns Green. Exit when 2 hourly candle turns red. Ride the trend and do not exit until the 2 hourly candle turns Red.
3) When 2 consecutive candle body become thin, means end of a trend is near. Therefore either reduce the position or hedge.
4) If there is a steep fall (long Red bars), then the first green candle is generally a false signal. Never enter on such bounces.
5) , means the low price of two consecutive swings are same/nearly same. That it is a much better signal. Entry after a is a very strong signal.
6) Trade only on trending stocks or indexes. If a stock is making many red and green candle, then never try to trade it on ZTrend.
Discipline is the key, therefore exit on the indication and do not wait in hope of marking turning your side.
Hide the main chart bars to view ZTrend bars.
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact zzzune for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Public Library.
Warning: please read before requesting access.