fhenry0331

Pullback Trading [Fhenry0331]

The indicator is taken from Alexander Elders "Triple Screen System," minus using the Weekly MACD as a filter/trend. I believe waiting for the force index and the weekly MACD histogram to line-up is uber conservative and a trader will miss too many signals (In my opinion).

The indicator is for a pullback trader. A trader that waits for a trend to develop then enters on a pullback.

The indicator defines an uptrend start: as the 13 ema crossing above the 26 ema . It defines a downtrend start: as the 13 ema crossing below the 26 ema .

The pullback in an uptrend: 13 ema is above the 26 ema . Elders-Force-Index is below the zero line. Price low has crossed below the 13 ema (one can also say price closes below the 13 ema if they so wish).

The pullback in a downtrend: 13 ema is below the 26 ema . Elders-Force-Index is above the zero line. Price high has also crossed above the 13 ema .

Please note that the pullback signals do not necessitate an automatic buy or sell (the instrument can be still pulling back deeper and not ready to resume it's trend.) One should place orders above (long) or below (short) bars with the pullback signals. Do so on signals until orders are filled.

Although the indicator is meant for pullbacks one can make an aggressive entry at the onset of a crossover of ema's.

For clarity background colors has been added to the indicator.

works well on daily time frame. Also look at intraday (5) minute time frame on trending stocks (news, earnings , volume , etc.)

Keep It Simple.

Enjoy!
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 menyukainya untuk menggunakannya pada carta.

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.

Ingin menggunakan skrip ini pada carta?