OPEN-SOURCE SCRIPT

Buy Signal Only with Multiple Indicators and Stop Loss

업데이트됨
Description: This custom Pine Script indicator is designed to help traders identify optimal buy signals using a combination of multiple technical indicators. It provides visual markers for entry points, take profit levels, and stop loss, offering a comprehensive tool for decision-making.

Features:

  • Buy Signal: Generates a buy signal based on a combination of EMA Cloud, SuperTrend, Zero Lag MACD, QQE, Volume Oscillator, and ATR Bands.
  • Entry Point: Displays a horizontal line at the entry price with a price label, extended to the right for visibility.
  • Take Profit Levels:
  • 1% Take Profit: A dashed red line with a price label for the first take profit level.
  • 2% Take Profit: A dashed orange line with a price label for the second take profit level.
  • Stop Loss: A dotted purple line with a price label to indicate the stop loss level set at 3%.


Parameters:

  • EMA Short Length: Adjust the period for the short EMA.
  • EMA Long Length: Adjust the period for the long EMA.
  • ATR Length: Set the length for ATR calculation.
  • Multiplier: Define the factor for the SuperTrend calculation.
  • MACD Length and Signal Length: Configure lengths for MACD and its signal line.
  • RSI Length and Smooth Length: Set parameters for RSI and its smoothing.
  • Volume Lengths: Customize lengths for the volume oscillator.
  • ATR Band Length and Multiplier: Set parameters for ATR Bands.
  • Delay Bars: Specify the number of bars to wait before showing another buy signal.
  • Take Profit Percentages: Adjust percentages for the 1% and 2% take profit levels.
  • Stop Loss Percentage: Set the stop loss percentage.
  • Line Extension Length: Define the number of bars to extend lines.
  • Right Offset Bars: Configure how many bars to offset labels and lines to the right.


Usage:

Identify Buy Opportunities: The indicator helps identify potential buy signals using multiple indicators.

Manage Trades: Visualize entry points, take profit targets, and stop loss levels to manage trades effectively.

Customization: Tailor the indicator to fit your trading strategy by adjusting the parameters.

Notes:

This is what we call version 1.

Ensure that the indicator's settings align with your trading strategy and market conditions.Use in conjunction with other analysis tools for a comprehensive trading approach.
릴리즈 노트
  • add more take profit
  • reduce the bar and label length
Candlestick analysisChart patterns

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