RedK Ribbon v2: Tracking Trend Made Easy

This is an update for the previously published RedK_Ribbon v1 -- and it adds some (hopefully) useful improvements:

1 - the Zero-Lag line is color-coded, to provide an early visual alert that momentum is fading, and the trend direction may change soon
2 - better colors for the ribbon :) - for the visually-oriented folks like me :)
3 - i added two optional EMAs that can be utilized as filters for the longer sentiment - to help a trader take positions only in the direction of the prevailing trends. note that these 2 EMA lines will be hidden by default until selected in the settings - to avoid clutter. Set to 30 and 50 by default but these lengths can be changed as needed
4 - code is open and commented

If you need to learn how we create the zero-lag moving average, pls refer to the "TA Basics" series - and if you need to learn more about how the Ribbon works, pls read the Ribbon v1 post

hope this is useful in your trading - and good luck!
Catatan Pelepasan: Quick update for the RedK_Ribbon with Alerts enabled, for when the Zero Lag Moving Average (ZLMA) line changes direction up or down as requested.

Feel free to customize the alert message to your convenience.

Catatan Pelepasan: - Adjusted the Alert logic and brought back the detailed explanation chart.
Catatan Pelepasan: - A quick update of my Ribbon v2 trend tracker - with some minor visual enhancements
Skrip sumber terbuka

Dalam semangat TradingView yang sebenar, penulis skrip ini telah menerbitkannya dengan menggunakan sumber terbuka supaya pedagang-pedagang dapat memahami dan mengesahkannya. Sorakan kepada penulis! Anda dapat menggunakannya secara percuma tetapi penggunaan semula kod ini dalam penerbitan adalah dikawalselia oleh Peraturan Rumah. Anda boleh menyukai skrip ini untuk menggunakannya pada carta.

Ingin menggunakan skrip ini pada carta?


+1 Balas
+1 Balas
RedKTrader worldtrip
@worldtrip, i will publish a version with alert hopefully soon.. thanks for your interest.
+1 Balas
RedKTrader GarethSA
@GarethSA, No - similar to any other MA, the active bar will calculate with every price change, once the bar is closed, no re-calculation happens for it. hope this answers your Q. you can set your chart TF to 1-min and observe it.
SugarTrader77 RedKTrader
@RedKTrader, I think that what you mean is that the MA points does change as the price change any time. Do you know a wait to set the alert right at the end of the candle close? (instead of having alert triggered anytime as the price changes) . thanks
SugarTrader77 SugarTrader77
@RedKTrader, Maybe I am dumb, maybe just set the alert at bar close would solve this issue. In this case do you know a way to draw a signal on chart on bar close? thanks
RedKTrader SugarTrader77
@SugarTrader77, you're right. the alert can be adjusted in that way by adding barstate.isconfirmed to the alert condition

sorry that was a miss from my side. i rarely (=never) use alerts
SugarTrader77 RedKTrader
@RedKTrader, Thanks a lot.
I wasn't even using "Alert". Sorry for misleading. I meant "AlertCondition".

I poste here for everyone to know:
- if you define in script Alertcondition, you have then the choice to define your alert on chart using OncePerBat, AtBarClose,...etc
- if you define directly in script "Alert", then forcing with barstate.isconfirmed

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