OPEN-SOURCE SCRIPT
Point Of Control
Updated
Strategy and indicators are explained on the Chart.
Here's how i read the chart.
Entry:
1. Let the price close above the Ichimoku cloud
2. Price is above Volume Support zone
2. Make sure that momentum indicated with Green Triangles for Long Position
Exit:
1. Orange cross at the bottom of the candle indicates price is about to weaken
2. Best time to exit is Volume Resistance + Bearish(Hammer or Engulf )
PS: Use it along with R-Smart for better results
Here's how i read the chart.
Entry:
1. Let the price close above the Ichimoku cloud
2. Price is above Volume Support zone
2. Make sure that momentum indicated with Green Triangles for Long Position
Exit:
1. Orange cross at the bottom of the candle indicates price is about to weaken
2. Best time to exit is Volume Resistance + Bearish(Hammer or Engulf )
PS: Use it along with R-Smart for better results
Release Notes
Cosmetic Update: when price goes beyond fair price, orange cross will be displayed on top of the candle Release Notes
1. Far Volume indicator is visible 2. Added code to validate Fair value on D,W,M timeframe
Release Notes
1. Removed less used Far Volume indicator2. Added Volume Weighted Moving Average
3. Added Keltner Channel, this provides additional momentum validation. Use only "Upper" line in KC, along with Green Triangle to stay in Strong Momentum.
4. some minor changes like color and default values.
Release Notes
1. upgraded to version 52. Renamed titles in Indicators
Release Notes
Cosmetic Updates. Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
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