OPEN-SOURCE SCRIPT

CapnsSurfer

This is a simple RMA Trend that may help you decide for SL or TP. Similar to CapnsBands this uses Donchian Channels.. but remember. Your Trade Your Money

Howto Read Capns Surfer - I will write more later
First of all this is NOT a BUY or SELL indicator. However with this you can define sweet spots for ENTRIES, or TRAILING STOPS and recognize the trend.

Sweetspots
snapshot
Donchian Channels (DC)Moving AveragesRelative Strength Index (RSI)rmatrend

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 publication is governed by House rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

Disclaimer