GreenCrypto Swing Trade Indicator - GC02

5 Jan 2021

Overview: This is a swing trading Indictor works using support & resistance and market trend, it is designed for all type of markets (crypto, forex, stock etc.) and works on all commonly used timeframes (preferably on 1H, 4H Candles).

How it works:
Core logic behind this indicator is to finding the Support and Resistance, we find the Lower High (LH) and Higher Low (HL) to find the from where the price reversed(bounced back) and also we use a custom logic for figuring out the peak price in the last few candles (based on the input "Strength" ). Based on the multiple previous Support and Resistance (HH, HL, LL LH) we calculate a price level, this price level is used a major a factor for entering the trade. Once we have the price level we check if the current price crosses that price level, if it crossed then we consider that as a long/short entry (based on whether it crosses resistance or support line that we calculated). Once we have pre long/short signals we further filter it based on the market trend to prevent too early/late signals, this trend is calculated based on the value from the input field "Factor". Along with this if we don't see a clear trend we do the filtering by checking how many support or resistance level the price has bounced off.

Stop Loss and Take Profit: We have also added printing SL and TP levels on the chart to make the it easier for everyone to find the SL/TP values. Script calculates the SL value by checking the previous support level for LONG trade and previous resistance level for SHORT trades. Take profit are calculated in 1:1 ratio as of now.


Available Inputs:
Strength : Define the strength of the support resistance that we calculate. The lower value means less number of candles used for calculating the support & resistance and vice versa
Factor: Specify what level of trend to use. Using higher value will result script looking using the larger trend (zoomed out trend) and using lesser value will result in using the short trends

Note: For most of the charts you don’t need to change the default values. However, feel free to try it out.

How to use:
Add the script to the chart and once the indicator is load it will display the "long" and "short" entry points along with the stopLoss and takeProfit points.

How to get access:
Send a DM to us for getting access to the script.

5 Jan 2021

Nota Keluaran

Corrected Alert Message.

5 Jan 2021

Nota Keluaran

Added a new Input "Stop Loss to Take Profit Ratio"
This new input allows user to enter the Stop loss to take profit ration. By default this is set to 1. that mean if the stop loss is set to 10 points below then TP1 will be 10 points above the entry price. In the same way if the ratio is 2 then TP1 will be set to 20 Points from the entry price (Formula is; TP1 = SL points * ratio).

16 Mac 2021

Nota Keluaran

Added option for enabling/disabling StopLoss and Take profit target lines.

24 Mac 2021

Nota Keluaran

Entry price price will display by default
changed display line positions

25 Jun 2021

Nota Keluaran

Added noise filtering to reduce the false signals. By default this option is disabled.
You can enabled the option by selecting "Enable noise filter ?" option.

This will help in reducing the false signals most commonly found in lower timeframes.

11 Jul 2021

Nota Keluaran

Added new option "Enable Advanced StopLoss ?"
- This will help in setting the tight stop-loss to reduce the losses. When this option is enabled stopLoss price will be more close to the entryPrice, Incase if there is stopLoss hit the losses will be less.

8 Ogo 2021

Nota Keluaran

Updates.
- Added new alerts() function which you can use to get json output in the alerts. Example json output below
{"orderSide": "sell", "ticker": "LTCUSDT", "entryPrice":154.49, "stopLoss":154.79, "tp1":154.19, "tp2": 153.89, "tp3":153.59, "tp4":153.29, "tp5":152.99}

- Fixed minor bug with noise filter option.
- Updated Advanced StopLoss Price calculation logic.

22 Ogo 2021

Nota Keluaran

- Fixed slight deviation in the SL calculation logic when Noise filter enabled.

12 Okt 2021

Nota Keluaran

Minor Update.

17 Okt 2021

Nota Keluaran

1. Added Dynamic Take Profit option which provides take profits different Take Profit compared previous 1:1 take profits.
Take profits are calculated exponentially when the Dynamic Take Profit Option is enabled.

To use the dynamic take profit enable the option "Enable Dynamic Take Profit ?"

2. Added default 5 Take Profit Targets instead of 3.

12 Jul 2022

Nota Keluaran

Major Update:

• Revamped the GreenCrypto algorithm to generate more accurate signals with the longer trend following and less frequent signals, with the new update you should see less number of signals and more accurate signal with less false positives.
  
  We have also modified the previous algorithm to better suite scalp trading and added an optional button "Enable Scalping/Aggressive Mode ?" for scalp trading, you can enable this and get scalp signals which are more frequent and has short time duration of the trade.
  

20 Jul 2022

Nota Keluaran

• Minor bug fixes
  
• Minor update to the new Algorithm introduced in the previous updated
  
• Changed Signal style to Triangle for better visibility.
  

17 Nov 2022

Nota Keluaran

- Introduces new checks to signals confirmation algorithm to improve the accuracy of the signals
- Improved logic to includes some of the missing opportunities during long trending markets.

22 Feb

Nota Keluaran

Update to trade filter logic.
This updated reduces the chances are missing good trades

29 Feb

Nota Keluaran

Migrate to pinescript V5.

2 Mac

Nota Keluaran

Major Update

• Separated the indicator into two major parts, one focuses on Breakout and Another one focuses on the Trend.
  
• Users have an option of choosing between the Breakout Strategy and Trend Strategy. On the Settings page of the Indicator uses can pick the strategy they want.
  
• Breakout Strategy: Build based on the support and resistance and focuses on the breakout of the price from support/resistance along with the additional filter to get the perfect signals.
  
• Trend Strategy: Focuses on the prices trend combined with the volume to capture the full trend from the bottom or top. Additional filters are applied to reduce the noise
  
• Other settings of the Indicator remains the same. Choose Breakout Strategy if you want to scalp the market. Choose Trend Strategy if you want to swing trade.
  

2 Mac

Nota Keluaran

minor update to the settings page

19 Jul

Nota Keluaran

Bug fix for alerts issues with the new Trend Strategy.

6 Ogo

Nota Keluaran

Minor update to trend strategy.