=== Musashi-Katana === This tool was designed to fit my particular trading style and personal theories about the "Alchemy of the markets" and ''Harmonic Structure'.
Context When following a Technical approach to to surf the markets, there are teachings that must be understood before reaching a confort-zone, this usually happen the possible worst way by constant experimentation, it hurts.
Here few technical hints: - Align High timeframes with lower timeframes: This simple concept relax a lot complexity of finding of a trend bias. Musashi-Katana allows you to use technical indicator corresponding to specific timeframes, like daily weekly or yearly. They wont change when you change the chart's timeframe, its very useful as you know where you're standing in the long term, Its quite relaxing. - Use volume: The constant usage of volume will allow you to sync with the market's breathing. This shows you the mass of money flowing into and out of the market, is key if you want to understand momentum. This tool can help here, as it have multi-period vwaps. You can use yearly, monthly for swing trading, and even weekly if you enjoy scalping.
Useful stuff: - You have access to baselines, AMA and Kijun-sen with the possibility of adding ATR bands. - AMAs come as two lines strategies for different approaches, fast medium or slow. - You can experiment with normal and multi timeframe moving averages and other trend tools.
Final Note If used correctly Musashi-Katana is a very powerful tool, which makes no sense as there is no correct usage. Don't add everything at the same time, experiment, combine stuff, every market is different. Backtest every possible strategy before using it, see what works and doesn't. This gives you a lot of peace, specially while you're at the tip of the spear surfing the markets --> I personally use this in combination with 'Musashi_Slasher (Mometum+Volatility)', as it gives me volatility and momentum in a very precise way.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.