TCSE24

25 Nov 2024

TCSE24 or Trendband Cycle Special Edition is designed to help create a simple trading plan by identifying potential Entry, Exit, Target Price, and Stop Loss. I use TCSE24 as a guide for short-term swing trading!

Please note, TCSE24 is not a directional indicator but fits better in Trend Following Strategy.

Only work with chart that have volume by default

Signals for Bullish Trade
1. Trendband Below Candlestick

• Filled Red with a Purple Line.
  

2. Cycle Begin

• Bar Color: Vivid Green.
  
• Green Circle Above Candlestick: Target Price.
  
• Green Circle Below Candlestick: Pullback Entry.
  
• Red Circle Below Candlestick: Stop Loss.
  

3. Breakout

• Bar Color: Lemon Green.
  
• Green Circle Below Candlestick: Pullback Entry.
  
• Red Circle Below Candlestick: Stop Loss.
  

4. Broken Minor Support

• Bar Color: Yellow.
  
• Price closes below the lowest low of the last 4 candles.
  

5. Volume Test

• Green Triangle-Up below Candlestick.
  
• Current bar shows 3 consecutive falling volumes.
  

6. Inside Bar

• Orange Triangle-Up below Candlestick.
  
• High and low are within the high and low of the previous candlestick.
  

7. Box Trading

• Purple Diamond
  

8. Cycle End

• Bar Color: Red.
  
• Red Triangle-Up below Candlestick.
  

9. Info Panel

• Background Green, turning Yellow after 20 bars from Cycle Begin.
  
• Background Red when Cycle Ends.
  
• Displays info such as Current Price, Target Price, Pullback Price, Stop Loss.
  

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Signals for Bearish Trade
1. Trendband Above Candlestick

• Filled with Blue.
  

2.Short Selling Begin

• Bar Color: Blue.
  
• Blue Circle Above Candlestick: Stop Loss.
  
• Blue Circle Below Candlestick: Target Price.
  

3. Breakdown

• Blue Circle Above Candlestick: Stop Loss.
  

4. Short Selling End

• Bar Color: White.
  
• Blue Triangle-Down above Candlestick.
  

5. Info Panel

• Background Blue throughout the trade.
  

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Bullish Trade Entry Suggestions
1. Ensure Cycle Begin is confirmed:

• Buy near the closing price.
  
• Use a Buy Stop 2 ticks higher than Cycle Begin's highest price.
  
• Use a Buy Limit at the pullback price.
  
• Wait for a signal candlestick, then Buy the next day if the price rises above the signal candlestick’s high.
  

2. Ensure Breakout is confirmed:

• Buy near the closing price.
  
• Use a Buy Stop 2 ticks higher than Breakout’s highest price.
  
• Use a Buy Limit at the pullback price.
  

3. Box Trading:

• Buy on the third day (T3).
  
• Buy above the Box Trading line.
  

4. Candlestick Signal:
* Ensure the signal candlestick is confirmed:

• Look for Doji, Spinning Top, or Hammer patterns.
  
• Buy the next day if the price rises above the signal candle's high.
  

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Bullish Trade Exit Suggestions
1. Target Sell

• Sell when the Target Price (TP) is reached or hold as long as Stop Loss isn’t hit.
  
• Sell if the price doesn’t move, doesn’t reach the target, or doesn’t hit the Stop Loss after 20 candles from Cycle Begin.
  
• Sell if the price closes below the Stop Loss.
  

2. Candlestick Signal

• Look for Doji, Spinning Top, or Hammer patterns.
  
• Sell the next day if the price drops below the signal candle's low.
  

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Bearish Trade Suggestions
Ensure Short Selling Signal or Breakdown is confirmed:

• Sell near the closing price.
  
• Close the position at Target 1, Target 2, Target 3.
  
• Close the position if Stop Loss is hit or when Short Selling End appears.
  

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Any alert() function call freq
Once_per_bar_close

• Cycle Begin, Inside Bar, Doji, Hammer, Spinning Top, Box Trading, Volume Test, Short Selling
  

Once_per_bar

• Breakout, Cycle End
  

For educational purposes only and should not be taken as advice on how to invest your capital. Always speak with a professional financial planner or advisor before making any investment decisions.

4 Jan

Nota Keluaran

Latest TCSE24 Update - 4 Jan 2025

Visual Updates

• Improved entry and stop loss calculations for better precision (slower entry).
  
• Indicator values display rearranged for clarity.
  
• Trendband now features a dual-tone color scheme.
  
• Take Profit (TP) line changed from solid to dotted for easier distinction.
  
• Move plotshape signal from below candlestick to top.
  

User Input Enhancements

• Stop Loss Multiplier: Default set to 3.
  

  >3: Wider SL.
  <3: Tighter SL.

• LongEMA: Now uses EMA200 closing price.
  

New customization options:

• Target Price: Adjustable for Bull and Bear trends (default: 3).
  
• Option to extend Target Price lines to right.
  
• Info Panel: Text size now supports integer input (default: 10).
  

This update focuses on enhancing usability and visual clarity for a better trading experience!