OPEN-SOURCE SCRIPT
Price Action Trading System v0.3 by JustUncleL
This is an updated and improved version of my "Price Action Trading strategy". I have added two extra optional filters, one is a trend direction filter based on the MACD slow EMA(17), blue line, and the other is a RSI(7) filter which works similarly to CCI(14) but slightly different dynamics (thank you to gianfranco60 for the suggestion). Also made a couple of corrections:
- input for lenLower minval=1 should be maxval=-1
- one bar pullback did not reset trigger, missing some alerts
Some Notes about usage:
- this is an alert indicator not a signal generator, each alert is a strong trend continuance candidate,
but should be treated on it's own merits by looking at chart dynamics and market conditions.
- will work well on trending markets only.
- works best on the first alert after MACD cross over.
- don't take trades when MACD and signal are close together.
- don't trade when channel and slow MA are flat or close together or
chopper (yellow and blue MA cross over quickly over short period).
- input for lenLower minval=1 should be maxval=-1
- one bar pullback did not reset trigger, missing some alerts
Some Notes about usage:
- this is an alert indicator not a signal generator, each alert is a strong trend continuance candidate,
but should be treated on it's own merits by looking at chart dynamics and market conditions.
- will work well on trending markets only.
- works best on the first alert after MACD cross over.
- don't take trades when MACD and signal are close together.
- don't trade when channel and slow MA are flat or close together or
chopper (yellow and blue MA cross over quickly over short period).
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, penulis skrip ini telah menerbitkannya sebagai sumber terbuka, sehingga para trader dapat memahami dan memverifikasinya. Hormat untuk penulisnya! Anda dapat menggunakannya secara gratis, namun penggunaan kembali kode ini dalam publikasi diatur oleh Tata Tertib. Anda dapat memfavoritkannya untuk digunakan pada chart
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JustUncleL
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