Paisa Wave Setup

15 Nov 2018

Paisa wave setup is made up of below ideas

Trend
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Wave Tunnel
Raghee Wave
Trend pattern
Propulsion (TODO)

Support/ Resistance
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Pivots -Renko
HL levels
Darvas box (TODO)

Oscillators (Individual scripts)
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Slow Stoch
Awesome Oscillator

Trend is your friend.
Base of this script is Trend.
Look for trend on bigger timeframes like 1D, 4Hr & ride the trend with lower timeframes like 1Hr, 30min or 15min.
I have explained my setup many times on my tweet handle TraderPaisa and will continue to do so.
I will be adding more features and more explanation here later.

3 Dis 2018

Nota Keluaran

For ease indicator is divided into 4 switches now
- Show Wave Setup
- Show Trend Setup
- Show Pivot Setup
- Show EMAdots Setup <--- New
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You can turn them all ON or OFF.
Once you turn on main setup switch then rest of the sub switches can be turned on and off to take effect.
Without turning on main setup switch other switches wont work.

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By default only Wave Setup is enabled.
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As promised new EMA dots indicator added.
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Uptrend - when ShortEMA > LongEMA price bars are blue.
Downtrend - when LongEMA > ShortEMA price bars are red.

A buy (green dot) will plot when bars are blue & low of the current bar pulls back to ShortEMA, but remains above the LongEMA.
Once buy is triggered then stop levels (purple dots) will plot until the stop level is reached.

A sell (green dot) will plot when the bars are red, & high of the current bar pulls back to the ShortEMA, but remains below the LongEMA.
Once the sell is triggered then stop levels (purple dots) will plot until the stop level is reached.
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So both buy and sell are triggered on re-test instead of breakout in EMAdot Setup where in Wave Setup these are triggered on breakout.
So you know whether to stay in the trade or not.