Basic but visual indicator based on EMAs to determine trading direction/bias. Use with your preferred method of entry (TL break, Trend Candles, ASC Trend Arrows, etc) or else use with Multi TF, to detect when your lower TF is back in synch with your higher TF.
Please remember to use money management, backtest your strategy and trade responsibly. Thanks…
|
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 |
//PRC_Trend_Bar //Craig - @Newbie PRC //Visual indicator which works great in trending markets, or to determine a bias for diectional trading //Add the indicator & Modify colours (unlinked) to your preference for long/short & modify "Style" to display as "histogram" //When the trend is in your direction, employ your method of entry (STOCH, ASC Trend Arrow, Break of TL etc) //Or use on multi-TF to detect when the smaller TF is back in synch with your higher TF direction for trades //Remember money management, backtest your strategy & please trade responsibly - Thanks //EMA SETTINGS EMA20 = ExponentialAverage[20](close) EMA50 = ExponentialAverage[50](close) EMA100 = ExponentialAverage[100](close) //CONDITIONS LONG = EMA20 > EMA50 AND EMA20 > EMA100 SHORT = EMA20 < EMA50 AND EMA20 < EMA100 // EMA BAND If LONG then color1 = 1 Elsif SHORT then color1 = -1 Endif //END SETTINGS //DISPLAY RETURNED IN THE BAR Return 1 coloured by color1 as "TREND" |
Share this
No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.
ProRealTime ITF files and other attachments :
Filename : download the ITF files
Find other exclusive trading pro-tools on 
PRC is also on YouTube, subscribe to our channel for exclusive content and tutorials
