A setup which contains Most Useful 14 indicators, that any Intraday Trader might require.
Below will see one by one-
1) Trend Following Icebergs - (3 Different Indicators to choose from)
--> The trend following indicators optionally.
--> Very simple to understand, yellow indicating sideways, green - going upside, and red - going downside.
--> Trend Indicator - 1st Iceberg is Crossovers
--> Trend Indicator - 2nd Iceberg is (20). It will change its color according to the trend of the market.
--> Trend Indicator - 3rd Iceberg is (14) in , will be plotted at the bottom of the screen.
2) Classic & Floor Points:- ( 2 Different Indicators to choose from)
--> Classic having 5 Supports & Resistances on the chart.
--> , At the middle, it is ( PP ) level and multiple levels
--> is a very known indicator that indicates whether that helps in-stock selection.
--> This is a very crucial indicator as it shows the levels for the next day.
--> One can make a learn by looking at next day's that whether the stock is going to be trendy/sideways the next day.
--> This indicator is used for finding levels on charts.
--> Helps in getting pullbacks and exit levels
--> Lines will change color automatically if any candle closes above the line. It will change it's to green.
--> Similarly, it will change its color to red if the price is below the support
4) Highs/lows, SuperTrend Up Down ( 2 Different indicators to use)
--> Plots Highs / Lows in the selected time frame.
--> Added SuperTrend indicator with length 10 with source HL/2 and multiplier to be 2.
5) Dynamic ATR - (14 Days)
--> It plots 2 important levels at the starting of the day.
--> 2 bands are plotted in the morning when the market opens, resembling strong zones.
6) First Candle
--> This will highlight the first candle that is formed of the selected time interval.
7) Bollinger Band
--> is also added for better catching the momentum as seen on chart.
--> The Upper and Lower Bands are used as a way to measure by watching the relationship between the Bands and price
--> is useful for learning trend direction in any market conditions.
9) RSI & MACD
--> Plots label indicating the status of and .
This works for Intraday Trades - when the resolution is kept to less than 1 hour ( Say 3 , 5 , 10 , 15 Mins), This works well when the resolution is kept to 1 Day - Good for Swing Trades spanning over a few days, This works well when the resolution is kept to 1 Day or Week - Good for Investments.
Trend Indicator - 3rd Iceberg Is a repainted based on the hybrid Logic
Stop Loss - That should be done by following ones risk appetite , Ideally the open/close of the previous candle should be the stop loss for the buy/sell but everyone has their own Risk Management Strategies based on the capital deployed.
If you like it and find it useful or if you find a defect or bug , Please let us know in the comments .. that would encouraging !! for us to develop it further
Coded for learning INDIAN Markets.
CAUTION:: There could be scenarios when the breakout/breakdown candle is rejected , especially when it is long one
so it is always recommended to have a confirmation candle that open-closes above the breakout candle / open-closes below the breakdown candle.
Disclaimer: No Investment Advice Provided, You should always understand that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
Inspiring to learn the Pine making market learnings easier.
Thanks & Regards,
Iceberg Intraday Learning.