November One Stop

November One Stop

This script is designed to confirm entry confidence in trend trading using Heiken Ashi candles, with an optional enhancement through a multi-strength RSI indicator.

Confidence Levels:

Level 3 (Strong Confidence):
Entry is confirmed when three consecutive Heiken Ashi candles of the same color appear (green for long positions, red for short positions).
Additional confirmation is provided when the arrow indicator, the moving average line, and the closing candle are all aligned in color, indicating a strong trend with minimal likelihood of immediate reversal.

Level 4 (Maximum Confidence):
Incorporating a multi-strength RSI as an additional filter provides a fourth level of confirmation. While this may result in missing some initial gains, it significantly reduces risk by ensuring all indicators are in agreement. This script does not yet incorporate the RSI.

Entry Criteria:
Wait for three consecutive Heiken Ashi candles of the same color.
Confirm that the arrow indicator, moving average line, and the closing candle are all aligned in color.
For maximum confidence, ensure the multi-strength RSI also confirms the trend direction.

Risk Consideration:
Entering before all indicators are aligned increases risk due to potential reversals. Alignment of all indicators provides higher probability of trend continuation for the selected timeframe.

Recommendation:
Before implementation, review historical performance of this strategy to gain a comprehensive understanding of its effectiveness.

Roadmap for improvements:
Include RSI
Improve Alarm trigger options