StableFork Intraday Indicator
The Indicator makes us my experience of 16 years and applies my setup to the price action. The Indicator works on the crossover of 2 moving averages in conjunction with ATR and based on the nature of crossover gives an automated Buy or Sell Signal along with stop loss and profit booking targets. For ALGO trading purpose profit booking by default is set to a trailing system ( Trailing by 0.5%).
- Advanced Signal Bars
- Clear Buy / Sell Signals on Charts
- Clearly Mentioned Fixed and ATR Based Targets on the Charts
- Clearly Mentioned Trailing SL levels on the Charts
- Realistic Target Settings suitable to Intraday Trading
- Risk Reward 1:2
- Algo Trading Ready
- Alerts are compatible for various webhook based alert services
- Not a Holy Grail system
- This is a premium invite only indicator, you can send us a DM to get access.
- The client will get benefits of any future development or updates in the current code without any extra charges.
- Trade Entry - The indicator keeps searching for setups that suit either a buy or a sell signal. One a condition is identified - the relevant alert is shown on screen and can be customized as an automated alert as well using TRADINGVIEW'S alert function.
- Order Execution - Order is executed at the bar following the signal generation bar , this takes care of any false signals triggered by as well. Trade is in motion from the start of the next bar keeping the original risk / reward in place. If the client is using the indicator for manual use , entry price and trade alerts can be hidden from the settings menu of the indicator.
- Trade Management - After the order has been executed - the indicator keeps checking the price action for either profit booking or for triggering a new trade in case the trend analysis has failed. In the example quoted above, since it was a trending day , targets on both the long and short trades were achieved. On a range bound day or very volatile day performance of the indicator will be badly affected as the indicator merely follows price, its not the other way around.
- Exit Triggers - The indicator will show you a pop up on screen to book profits in case the trade goes in the direction of the generated signal , for ALGO trading purposes profit booking on such trades will be on the trailing stop loss method. In case a user requires to exit at fixed targets only, default setting has to be chosen from the input settings menu of the indicator.
- On Screen Information: The indicator shows the current signal and keeps plotting the target and trailing stop loss line along with extreme zone ATR zones for more profit booking. Depending on the risk profiling of the user, a user can chose where to book profits.
Guidelines on how to use the Indicator
- The most stable time frame for stocks and index signal generation is 10 mins - in case you select a shorter time frame, the indicator is bound to give a lot of alerts
- The most stable time frame for and Forex trading signals is 30 minutes.
- The most stable time frame for Crypto Currencies trade signal generation is 45 minutes.
- I am not a SEBI Registered Analyst and shall not be liable for any profit, loss or liability resulting, directly or indirectly from the use and results of the Indicator.
- I am a self taught trader and the indicator is the result of my hard of 16 years of price action analysis, and by no means have I established that this is the best strategy that can fetch you better returns than any other strategies. The Indicator follows price action, price action does not follow the indicator - This is not a Holy Grail setup, sometimes targets will be hit and sometimes the trades will hit stop losses as well.
Instructions to obtain access to this invite-only script
- Send us a DM if you wish to gain access to the indicator
Periods Available - Session | Weekly (Default) | Monthly |
User can disable the AVWAP through the settings option if not required.
Colors - Blue - Bullish Trend , Teal - Flat trend and Red - Bearish Trend
Stop Loss levels modified to suit better in the current market scenario , also as per fibonacci retracements
In some cases book profit message was not appearing - fixed
A slanted Brown line will appear both on Long And Short Signals - use this as a warning that the trend we are in can reverse. From a trading perspective this alert should be used to either book profits or to start trailing your stop loss aggressively.
Danger levels Removed as was creating problems with plotting of charts
Volume Candles Added - Candles with significant volume change in them will not be colored Blue and Maroon respectively
# There will be a new price action strategy working parallelly with the base strategy and will give fresh signals - will be beneficial for taking new entries in an ongoing signal. Eg. In PEL there is an ongoing Long signal from 10-6-21 @2160 levels , with the new update clients will give a fresh signal on the next trading day if the parameters of the 2nd strategy are met - refer to the brown upward pointing triangle displayed at 9.25 am 2220 price levels
# The only thing to remember with this update - trades where both the base and new signal are in confluence can be taken , taking contra trend scalps will not be fruitful.
# On Target Achievement the indicator is going to show LBP/SBP instead of Long Book Profit/Short Book Profit to save screen space
The new update will display a sentiment bar on the charts.
The bar will have 4 colors depending on the current trend -
dark green - very strong bullish trend
light green - a sign of bullish trend
dark red - very strong bearish trend
red - a sign of bearish trend
The changes in colors will be live and updated along with individual candles in the live market - any change in the pattern can be treated as a sign of trend reversal also.
If the user does not wish to make use of the sentiment bar - they can switch the display off using the indicator settings.
BUY/SELL Alert System Activated for the secondary price action alerts (A user can now also set custom alerts for the new breakout signals as we get while being in the primary trend)
Added one more of our intraday study to the indicator , now at run time 3 of our studies will be evaluating the price action . The Buy/Sell alerts from the new study will be indicated by a Blue UP/DOWN Triangle - The study will be more useful in booking profits / pyramiding while following the original signal from the indicator.
Added Info Panel which removes the need to keep an additional ADX tab opened on the charts
# Components of the panel
Earlier as per the 3 point grading system , confirmation were dependent on ADX crossover and individual value of the corresponding DI for executing a trade , now with the addition of 2 new parallels studies , following will be the course of action in Buy / Sell signal Scenarios
If there is a buy signal ( 5 min chart ) and trend is Bullish on both Trend A and Trend B even if ADX parameters are not supporting the trade - the trade can be executed .
If there is a sell signal ( 5 min chart ) and trend is Bearish on both Trend A and Trend B even if ADX parameters are not supporting the trade - the trade can be executed .
Time Frames to be used for Intraday Trading
Stocks - 5 min
Index - 5 min
Commodities - 15 min
Currency Pairs - 15 min
While debugging I found out that the % change value of VIX was creating the issue , so now VIX would appear at present value without the % change value. All 4 Alert Functions are functioning fine now.
All my strategies revolve around making use of moving averages in conjunction with RSI. Please send me a PM if you need my assistance.
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 StableFork for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it unless 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 Community Scripts.
If you wish to gain access to the study , please contact us on dm
Warning: please read before requesting access.