PROTECTED SOURCE SCRIPT
PpSignal Donchain Channe Super Smoother
Updated
Original Idea JustUncleL
I changed internal calculation Donchain Channel, i did Ehlder super smoother calc and MA perod
Description:
This idea is based on the Donchain Channel centre line Price action. When price moves from the highest/lowest point, the price will move to the center line first. At this point, the center line acts as dynamic support/resistance and often price will bounce back up. However, if price successfully breaks the center line, primary entry condition, then prices will tend to catch up to the bottom channel line and even make further moves in that direction, secondary entry condition.
This script idea is designed to be used with Renko (10pip brick recommended) Renko or Heikin Ashi (1 hour recommended) charts. It combines the price action with a directional coloured SSMA (default length 21) and a Donchian Channel 21 ehlder smoothe period to provide entry and exit signals.
There are three options to exit trade:
- MA Cross (default exit) = exit occur when price breaks EMA in opposite direction.
- Centre Cross = exit occurs when price breaks back passed the centre line in opposite direction.
- Brick Colour = exit when a brick/bar paints in the opposite colour to trade direction.
Each Entry and Exit signal creates an Alertcondition that can be picked up by the TradingView Alarm system.
TIP: Remember this type of Trading technique only works well in a trending market. Do not try to trade this technique in a ranging/flat market.
TIP: To get 10pip Bricks set Renko to "Traditional" type bricks and 0.001 for non-JPY currency pairs, and 0.1 for JPY currency pairs. Also set chart Time frame to 5min or 15mins.
I changed internal calculation Donchain Channel, i did Ehlder super smoother calc and MA perod
Description:
This idea is based on the Donchain Channel centre line Price action. When price moves from the highest/lowest point, the price will move to the center line first. At this point, the center line acts as dynamic support/resistance and often price will bounce back up. However, if price successfully breaks the center line, primary entry condition, then prices will tend to catch up to the bottom channel line and even make further moves in that direction, secondary entry condition.
This script idea is designed to be used with Renko (10pip brick recommended) Renko or Heikin Ashi (1 hour recommended) charts. It combines the price action with a directional coloured SSMA (default length 21) and a Donchian Channel 21 ehlder smoothe period to provide entry and exit signals.
There are three options to exit trade:
- MA Cross (default exit) = exit occur when price breaks EMA in opposite direction.
- Centre Cross = exit occurs when price breaks back passed the centre line in opposite direction.
- Brick Colour = exit when a brick/bar paints in the opposite colour to trade direction.
Each Entry and Exit signal creates an Alertcondition that can be picked up by the TradingView Alarm system.
TIP: Remember this type of Trading technique only works well in a trending market. Do not try to trade this technique in a ranging/flat market.
TIP: To get 10pip Bricks set Renko to "Traditional" type bricks and 0.001 for non-JPY currency pairs, and 0.1 for JPY currency pairs. Also set chart Time frame to 5min or 15mins.
Release Notes
detailingRelease Notes
we added candle Release Notes
we move step ma and tigger...
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