Daveatt

BSTtrend (and a quick note on trading psychology)

Hi again :)

Script #2 for tonight, more to come :)

This one is a Pine transcription of a FXCM/ LUA script called BSTrend
I used it years ago to trade index on very low timeframes with it. I'm always looking for oscillators that are more reactive than the traditional MACD . And even more reactive than the MACD Zero Lag

This is a proof of concept that Pinescript is my favorite trading programming language vs MT4/ LUA / PRT . I just find it easier and the Pinescript community is helping a lot

With the BSTrend you can win but also lose. I see a lot of scripts out there but there is not a better or worst indicator. The key is HOW to use it.
In other words the key is your PSYCHOLOGY, without a rock-solid psychology, you'll end up committing a mistake even with G. himself whispering "BUY NOW", "SELL NOW" to your ears. (wait..... Do you mean this is happening only to me ????)
However, indicators help immensely in reducing the psychology pressure that we have to endure ... sometimes for days..... But better not to overcharge with dozens of indicators per chart and have a tool to detect whenever there is a confluence/convergence of your favorite indicators :) #algorithm #builder
I'll publish an educational post about next week

Those are the exact words that my mentor traders told me 6 years ago when I started trading

PS
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Be sure to hit the thumbs up as it shows me that I'm not doing this for nothing and will motivate to deliver more quality content in the future.

- I'm an officially approved PineEditor/ LUA /MT4 approved mentor on codementor. You can request a coaching with me if you want and I'll teach you how to build kick-ass indicators and strategies
Jump on a 1 to 1 coaching with me
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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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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