Noro's ZZ-4 Strategy by ROBO_Trading

Indicator by Noro

The Price Channel indicator is used.
Used OHLC4 to calculate the values of the Price Channel indicator.
Red lines are drawn from the lower boundary of the price channel.
Lime lines are drawn from the upper boundary of the price channel.

Trading

You need to use market stop orders.

If the price is higher than the lime line, open the long position (and close the short position)
If the price is lower than the red line, open the short position (and close the long position)

Release Notes:

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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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