This script can be helpful to find trend and EP, SL, TP.
I tested only LTF(Lower Time Frame) such as under 15 mimutes for very short term trading.
As you see this script came from MAs and i'd adjusted the lengths and sources.
Basical Usages.
There are several lines but you must remember that the border is support and resistant as other MAs.
- The upper border is resistant and the lower borader is support line.
Once you chacked the trends with waves.
- If it goes up then Up-trend, and vice versa.
- when the trend change, there is flip over the waves as I circled on above.
- To make an Entry Point and STOP LOSS
Once, if there is a Flip orver, then you should take a look at the lime colored line and that is the entry line.
The Lower Border is Stop Loss.
- Hold the Position
Once, the waves spread out then the Trend is accellating so, you should hold the position.
- To take a profit.
When another Flip over you can take a profit on the Enrty line.
or when the candle hits STOP LOSS LINE then the trade is over.
It is very easy and simple isn't it?
I tested only LTF(Lower Time Frame) such as under 15 mimutes for very short term trading.
As you see this script came from MAs and i'd adjusted the lengths and sources.
Basical Usages.
There are several lines but you must remember that the border is support and resistant as other MAs.
- The upper border is resistant and the lower borader is support line.
Once you chacked the trends with waves.
- If it goes up then Up-trend, and vice versa.
- when the trend change, there is flip over the waves as I circled on above.
- To make an Entry Point and STOP LOSS
Once, if there is a Flip orver, then you should take a look at the lime colored line and that is the entry line.
The Lower Border is Stop Loss.
- Hold the Position
Once, the waves spread out then the Trend is accellating so, you should hold the position.
- To take a profit.
When another Flip over you can take a profit on the Enrty line.
or when the candle hits STOP LOSS LINE then the trade is over.
It is very easy and simple isn't it?
Release Notes:
Updates
1. Add 3 kinds of Guide Lines.
- I recommend default set up
2. Add 2 kinds of Color Theme.
3. Fixed minor bugs.
1. Add 3 kinds of Guide Lines.
- I recommend default set up
2. Add 2 kinds of Color Theme.
3. Fixed minor bugs.
Release Notes:
You can Choose the Length of Waves
Min. 1 and Default is 5.
Min. 1 and Default is 5.
