OPEN-SOURCE SCRIPT
Caco Maia's Double break out
A setup created and used by Caco Maia — Brazilian trader with over 40 years experience.
It is based on the simultaneous crossing of the price with 8 and 20 moving averages, filtered by TRIX and Stochastic indicators.
How to use:
Wait for the signal bar to close.
Observe the context of the chart and direction of the trend. For example: do not follow the signal with the moving averages are pointing to the opposite direction of the trade/signal.
Better if used with other indicators to confirm the trade entry.
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Setup do duplo rompimento do Caco Maia.
Indica o rompimento simultâneo do preço com as médias móveis de 8 e 20, filtrado pelo TRIX e Estocástico.
Como usar:
Espere o fechamento da barra com o sinal.
Observe o contexto do gráfico e a direção da tendência. Por exemplo: não inicie o trade se as média móveis estão apontando para a direção oposta ao sinal.
Melhor se usado com outros indicadores para confirmar a entrada no trade.
It is based on the simultaneous crossing of the price with 8 and 20 moving averages, filtered by TRIX and Stochastic indicators.
How to use:
Wait for the signal bar to close.
Observe the context of the chart and direction of the trend. For example: do not follow the signal with the moving averages are pointing to the opposite direction of the trade/signal.
Better if used with other indicators to confirm the trade entry.
---------------------
Setup do duplo rompimento do Caco Maia.
Indica o rompimento simultâneo do preço com as médias móveis de 8 e 20, filtrado pelo TRIX e Estocástico.
Como usar:
Espere o fechamento da barra com o sinal.
Observe o contexto do gráfico e a direção da tendência. Por exemplo: não inicie o trade se as média móveis estão apontando para a direção oposta ao sinal.
Melhor se usado com outros indicadores para confirmar a entrada no trade.
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.
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.
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.
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.