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SuperTrend Trapping Candle Strategy
Hello traders!
How this indicator works?
The main functionality of this indicator is to find entry based upon SuperTrend indicator. This indicator helps us to find trapping candle to enter into the market.
What is a trapping candle?
A trapping candle is a candle that shows strength in opposite direction to SuperTrend. This helps us to enter in a trade before the move start in the current trend's direction. There are two types of trapping candles signals I have added currently:
1. Volume is high than previous candle in the opposite direction.
2. 3 candles of opposite direction with decreasing volume .
How to enter in a trade in uptrend market?
SuperTrend shows a green signal
A green triangle formed below red candle
Enter into the trade when price is above red candle high
SL could be place below red candle or swing low if it is near
How to enter in a trade in downtrend market?
SuperTrend shows a red signal
A red triangle formed above green candle
Enter into the trade when price is below green candle low
SL could be place above green candle high or swing high if it is near
How to avoid to enter in a trade in sideways market?
You can follow price action strategies
Or you can follow some indicator to find sideways market
Indicator settings and how to change?
ATR Length - For SuperTrend, this is default value.
Factor - For SuperTrend, changed to 2 to provide fast signals.
Candle Height - For trapping candle price, default set to 0.003% of the current price.
How this indicator works?
The main functionality of this indicator is to find entry based upon SuperTrend indicator. This indicator helps us to find trapping candle to enter into the market.
What is a trapping candle?
A trapping candle is a candle that shows strength in opposite direction to SuperTrend. This helps us to enter in a trade before the move start in the current trend's direction. There are two types of trapping candles signals I have added currently:
1. Volume is high than previous candle in the opposite direction.
2. 3 candles of opposite direction with decreasing volume .
How to enter in a trade in uptrend market?
SuperTrend shows a green signal
A green triangle formed below red candle
Enter into the trade when price is above red candle high
SL could be place below red candle or swing low if it is near
How to enter in a trade in downtrend market?
SuperTrend shows a red signal
A red triangle formed above green candle
Enter into the trade when price is below green candle low
SL could be place above green candle high or swing high if it is near
How to avoid to enter in a trade in sideways market?
You can follow price action strategies
Or you can follow some indicator to find sideways market
Indicator settings and how to change?
ATR Length - For SuperTrend, this is default value.
Factor - For SuperTrend, changed to 2 to provide fast signals.
Candle Height - For trapping candle price, default set to 0.003% of the current price.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.