This script does the following
1. Identifies a BB Squeeze by turning the background green
2. Identifies if a price is above 9 sma h, sma 20 and vwap or otherwise through green and red diamonds at the bottom. Green is bullish. red is bearish
3. Identifies inside candles and basis previous patterns suggests long or short (L1, L2, S1, s2 etc)
4. Identifies long and short crossover when sma 9 h cross over or under sma 20
4. This works very well with BankNity in 10 minute chart. Not tried in any other
5. Use this with ORB, BB and VWAP indicator
6. Use the Hilega Milega System always to reconfirm trade. Search for it in youtube. It is by best teacher - N K Sir (N K Stock Talk)
Note: All trades to be done at your own responsibility. Please practice before you use and employ with your own patterns as suitable. What works for me may not work for you
1. Identifies a BB Squeeze by turning the background green
2. Identifies if a price is above 9 sma h, sma 20 and vwap or otherwise through green and red diamonds at the bottom. Green is bullish. red is bearish
3. Identifies inside candles and basis previous patterns suggests long or short (L1, L2, S1, s2 etc)
4. Identifies long and short crossover when sma 9 h cross over or under sma 20
4. This works very well with BankNity in 10 minute chart. Not tried in any other
5. Use this with ORB, BB and VWAP indicator
6. Use the Hilega Milega System always to reconfirm trade. Search for it in youtube. It is by best teacher - N K Sir (N K Stock Talk)
Note: All trades to be done at your own responsibility. Please practice before you use and employ with your own patterns as suitable. What works for me may not work for you
Release Notes:
Changed the bulling and bearish price legend to bl and br
Release Notes:
Updated another pattern
1. OH and OL when happening together often gives opportunity for a long trade in the next candle. Identified the OHOL combinations.
2. Update the sensitivity of the bb
3. Plots the previous day high and low as red and green line
Note: In my eyeball test, have found that all these patterns give the best result if the candle opens above or below the previous open/close. In other cases, it is a hit or miss.
1. OH and OL when happening together often gives opportunity for a long trade in the next candle. Identified the OHOL combinations.
2. Update the sensitivity of the bb
3. Plots the previous day high and low as red and green line
Note: In my eyeball test, have found that all these patterns give the best result if the candle opens above or below the previous open/close. In other cases, it is a hit or miss.
Release Notes:
1. Cleaned up the patterns some more to eliminate bad signals. Fewer, but cleaner
2. In all cases, please take position after accounting for HM and ORB. For example, if the indicator indicates short, but the chart shows ORB in the immediate support or in HM, black is above green or trending up - avoid taking a short or keep very small SL
3. Replaced the various long short numbers with L and S. S2 is stll retained as it might be cleaned up further
2. In all cases, please take position after accounting for HM and ORB. For example, if the indicator indicates short, but the chart shows ORB in the immediate support or in HM, black is above green or trending up - avoid taking a short or keep very small SL
3. Replaced the various long short numbers with L and S. S2 is stll retained as it might be cleaned up further