HPotter

Trend Trader Strategy

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This is plots the indicator developed by Andrew Abraham
in the Trading the Trend article of TASC September 1998
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////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 21/08/2014
// This is plots the indicator developed by Andrew Abraham 
// in the Trading the Trend article of TASC September 1998  
////////////////////////////////////////////////////////////
study(title="Trend Trader Strategy", overlay = true)
Length = input(21, minval=1),
Multiplier = input(3, minval=1)
avgTR      = wma(atr(1), Length)
highestC   = highest(Length)
lowestC    = lowest(Length)
hiLimit = highestC[1]-(avgTR[1] * Multiplier)
loLimit = lowestC[1]+(avgTR[1] * Multiplier)
ret = iff(close > hiLimit and close > loLimit, hiLimit,
        iff(close < loLimit and close < hiLimit, loLimit, nz(ret[1], 0)))
pos =	iff(close > ret, 1,
	    iff(close < ret, -1, nz(pos[1], 0))) 
barcolor(pos == -1 ? red: pos == 1 ? green : blue )
plot(ret, color= blue , title="Trend Trader Strategy")
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Not useful if it repaints...
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Hello @HPotter
How can I use it on MT4, please let me know.
Thank you.
Reply
Hi,
Thanks for this.
Don't know how to code and hoping you can help.
Just wondering if you can make a V2 that ads another line "hilimit/lolimit" but with another multiplier (i.e 2)

The purpose of which could be for getting out of the trade quicker or adding to positions if price bounces off this new line.

regards
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blueSkies blueSkies
hi @HPotter ,
I got it to work. :)
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HPotter blueSkies
@blueSkies, Good )
Reply
wow...... you are really great.
Reply
HPotter rainboo
@rainboo, Thank you.
Reply
Does this re-paint?
+4 Reply
HPotter jgree107
@jgree107, Yes
+1 Reply
It seems to be somewhat useful in the daily chart and less helpful in a weekly chart.
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