miteysh

Fishing The Trend

Fishing The Trend

HOW Does it work ? The code uses dynamic levels to identify trend.

This script used SuperTrend (ST), ATR and relatively Smoothened ST for early trend reversal detection to determine the trend and direction so that a fruitful decision can be made.

To Indicate the strength of the trendline, The standard calculations of SuperTrend, along with multiple smoothen ATR results are clubbed determine the direction, a step ahead.

However, the indicator is not appropriate for all the situations. It works when the market is trending. Hence it is best to use for short-term technical analysis . SuperTrend uses only the two parameters of ATR and multiplier which are not sufficient under certain conditions to predict the accurate direction of the market. Here in this indicator ATR value is not editable and after long backtests the best ATR value is kept that helps the indicator working very well.

The default setting is best for use, but user can customize the Multiplier for his own fine tunings, So once the Levels are matched, a Long / Short suggestion is plotted.

Best Time Frames to use : starting from 1, 3, 5, 15, 30 Mins and so on... to determine Trend.
Long = L and Short = S.

Where and how to use?
The main use of this indicator is quick scalping and Intra-day trading.
The Indicator shows the option to show Long/Short Signals which the use can be turned on or off.
The indicator shows a very useful option for early detection of the ongoing trend whether there will be reversal of trend or not ?

Stop Loss - That should be done by following ones risk appetite, Ideally the High of the Previous Candle should be the stop loss for the Long / Short but everyone has their own Risk Management Strategies based on the capital deployed.

Disclaimer : There could be scenarios when the candle is shown as a long or short and then the candle turns into opposite direction red/green. In such scenarios , Please refer to the just preceding candle and the early detection signal and if this candle is moving into positive direction only then go for long, Similarly opposite for Short, the value of multiplier 0.5 is determined using series of back test across various assets with different time frames.

User Options : Choice of turning on / off the Long / Short Labels and early detection/StopLoss Option can also be activated or deactivated.

Visual Checks - The user could manually validate the back test results on various assets they would like to use this strategy on before putting it live.

Usage/Markets : Index Trading / Equities and also well with Commodities and Currencies

How to get access
Please click on the link / email in the signature or send me a private message to get access

Feedback
Please click on the link/email in the signature or send me a private message for suggestions/feedbacks
Release Notes: Greeting From GrowMore Indicators !!

Whole New Modified Fishing the Trend Setup for FOREX markets is coded.
Forex Fishing The Trend - Setup

HOW Does it work ?
Forex Fishing The Trend - Setup have following 7 indicators each is explained below :-

1) Intraday Range
HOW Does it work ?
This indicator is on - as default.
# Upper and Lower band act as support and resistance , user may see a reversal in trend from these bands
# If the price breaks these bands, don't take a trade expecting a reversal
# These bands are calculated by averaging the previous x number of days' highs and lows of the security.
Intraday Range is not plotted completely to the whole day when day starts, and the range lines are filled as
day moves ahead with change of colour for breakout or break-in (color of range band changes).

2) Trend Band
HOW Does it work ?
# It is Modified 200 Moving average band with color changing features.
How to Use it ?
# Find for sell side if the market is below the band and buy side if market is above the band, we can se consolidation if market is at band.

4) Multi Time Frame VWAP .
HOW Does it work ?

VWAP = The volume weighted average price ( VWAP ) is a trading benchmark used by traders that gives the average price a
security has traded at throughout the day, based on both volume and price. It is important because it provides traders with insight into both the trend and value of a security.
By default this comes off..

5) Auto Trend Lines.
HOW Does it work ?
Auto trend lines : It draws trendlines connecting the highs and lows of the previous bars

What's it do?
Auto trend lines will let the user know when the line is broken for ease of use.

6) Breakout / Breakin Area
What's it do?
The indicator detects major swing highs & lows, then waits for a defined ATR move in the opposite direction. If this occurs then the indicator draws a zone between the wick and body of that high/low until it's violated by a closing price. Once violated, it then begins looking for a new zone. If you have Get Previous Broken Area turned on then the script will also draw the previous support/resistance zone until that gets violated again (support-turned-resistance etc).

7) Support & Resistance with RSI Line.
HOW Does it work ?
This Indicator has two options, enabling one will have support and resistance lines drawn on the chart having the functionality of
Bollinger bands, and enabling the second will draw 20 SMA line having RSI merged with it, The Overbought and Oversold area is
set to 55 45 and 10 is buffer and is not editable.
# When market reverses it detects and draws support or resistance as dotted lines.
# This indicator is for user using RSI , The twist is that not only it uses RSI but also simple moving average , So this makes the user more safe as it is a combination of RSI and SMA .
# Multi-coloured ----> Green/Red/Yellow ..moving average
* There is an On/Off Option for each Indicator.

Disclaimer : There could be scenarios when the candle is shown as a long or short and then the candle turns into opposite direction red/green. In such scenarios , Please refer to the just preceding candle and the early detection signal and if this candle is moving into positive direction only then go for long, Similarly opposite for Short, the value of multiplier 1.0 is determined using series of back test across various assets with different time frames.

User Options : Choice of turning on / off the Long / Short Labels and early detection/StopLoss Option can also be activated or deactivated.

Visual Checks - The user could manually validate the back test results on various assets they would like to use this strategy on before putting it live.

Usage/Markets : Fine Tuned for use in Forex Markets, Currency Pair, Bitcoins, etc.

How to get access
Please click on the link / email available in the signature or send me a private message to get access.
Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact miteysh for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Public Library.

Author's instructions

Drop a mail to edgineer@yahoo.com or Drop a personal message for access. Questions, Help, Discussion -> Telegram: Telegram: @miteysh, Please click on the link/email in the signature or send me a private message for suggestions/feedbacks.

Want to use this script on a chart?

Warning: please read before requesting access.

Drop an e-mail to edgineer@yahoo.com or a personal message for access or Telegram: @miteysh. Questions, Help, Discussion -> Telegram: @miteysh

Comments

Please give access.. thanks
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miteysh akuti
@akuti, Pleased to give access. Hope you learn out of it.
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Please give access of indicator.. Thanks
Reply
miteysh KMYadav
@KMYadav, Given and everything is written in description. please do read it.
Reply
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