ROBO_Trading

Noro's SILA v1.2

Noro's SILA v1.2 - these are 5 trend indicators in 1, for the sake of better accuracy.

Added:

1) Settings
2) Arrows

Noro's SILA v1.2 uses 5 trend indicators:

1) SuperTrend
2) DI Plus-Minus
3) WOW trend indicator (my idea)
4) BarColor indicator (my idea)
5) BestMA (or "BMA") indicator (my idea)

The user can switch-off any indicator from 5 to achieve big accuracy.

How does it work?

Each indicator from 5 defines a trend in own way. If two indicators report that there will be a uptrend, and three others the indicator report that there will be a downtrend - it is downtrend (a red background).

For an example

Now SuperTrend = uptrend = +1
Now DI Plus-Minus = downtrend = -1
Now WOW trend indicator = downtrend = -1
Now BarColor indicator = downtrend = -1
Now BestMA (or "BMA") indicator = uptrend = +1

Sum = + 1 - 1 - 1 - 1 + 1 = -1 = downtrend

If sum > 0 = uptrend

Sensivity

The user himself chooses what there will be a sensitivity (in settings).

If sensivity = 3:

sum > or = 3 - uptrend
sum < or = -3 - downtrend
sum > -3 and < 3 - NA-color of background

Trendlines

3 lower trendlines (blue plots) is "sum+3"
5 upper trendlines is "sum-5"
etc

Settings:

1) sensivity - you see above
2) distance - distance between the price and lines (for convenience)

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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