RSC TrendTrading Indicator v4.0

Note: this v4.0 is an updated version with improved alert handling and updated to Pine script version. You can easily add alerts (see the end for an explanation).

This indicator combines 4 indicators as one indicator (assuming you are looking at the daily chart ) and adds alerts:

• An Upper Donchian Channel of 20 days (default) or more, used to indicate buy signals
  
  A Lower Donchian Channel of 10 days (default) or more, used to indicate exit signals
  
  A 50 day Simple Moving Average (for entry filtering)
  
  A 200 day Simple Moving Average (for entry filtering)
  

This strategy works best on daily.

You can create alerts by selecting " RSC TrendTrading... " and "Buy Signal" or "Sell Signal" for the condition, then Buy or Sell. I recommend you select "Once Per Bar Close" to avoid getting multiple signals per bar.

This is a combined indicator for those who are familiar with Doc Severson's Trend Trading Class. It is published with permission.

There is way more than just adding the indicators to utilise this trading strategy successfully. You need to attend the Doc's class to understand how this indicator can be used to your advantage.

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I have also published a Strategy based on this to allow backtesting!

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Warning
The Buy and Sell calls are meaningless and must not be auctioned without a thorough understanding of this trading strategy and the full consideration of the entry and exit conditions.

Please use this indicator at your own risk. The publisher does not accept any responsibility for its performance or any implications.