To get More signal of and user must enable More Signals check box that will check crossover and cross down of price close with Gaps.
I am using 2 ATR and one and Gaps and to make signal profitable with 15 minutes 1 hr ,2hr,3hr,4hr chart time frame.
I have checked last few years data for back testing. Based on past performance it doesn't work well in 30 minute and 1 day chart time frame as results are not good in back testing. I have designed this indicator for Indian crude oil context though it can be used with other market as well.
1st ATR used to find trend with price crossover.
2nd ATR is used to find the trend change details only. I have taken and ATR both to consider trend change.
Highlight Gap Up and Gap Down is used to know daily market opening gap up and gap down area. Gaps act as .
Plotted as Blue line. Rising considered as uptrend and falling considered as downtrend.
Flat considered as no trend zone. In no trend zone every second third candles cross .
User must keep the default setting for getting better results as results are back tested. If setting changed then result may vary.
I have added here back tested performance user can see those results. I have added commission and slippage as well. Past year performance not guarantee for future years result so before taking any trade trader must take conscious decision.
This indicator is available on Subscription.
PM/ DM for more information about the script access.
Use the link below to obtain access to this indicator.
Today checked with Gold and Natural Gas its working on that as well in positional trades.
Removed extra codes which are not useful.
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 siddmuk2005 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.