Ingredients Daily chart 8ema & 21ema on a 78-minute chart Trend Following v1 indicator for TradingView (optional)
Steps Identify stocks that tend to move the same direction for one or more weeks at a time. Find and locate stocks where the 8ema is crossing above (bullish) or below (bearish) the 21 ema on a 78-minute chart. If the 8ema > 21ema, the indicator will show a GREEN shaded area , be bullish OR if the 21ema > 8ema, the indicator will show a RED shaded area, be bearish. Buy to open with a “Limit buy” order if a green arrowis present at CLOSE of a 78-minute candle or sell to open with a “limit sell” or if a red arrowis present at CLOSE of a 78-minute candle. Use either stocks or options. allocate the same $$ for each trade, continue in the trend (stay in the trade) until you 1) trend is changing. 2) ready to lock in profits.
Optional The shift from bearish to bullish is the best scenario, consider Long only / short only / long and short. Set alerts “Trend Reversal” inside the v1 trend following TradingView indicator and ONLY trade your alerts. Premium indicator has built-in strategy tester.
릴리즈 노트
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Updated a few lines to allow 3rd party algos utilize the tv webhooks easier.
릴리즈 노트
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*fixed the issue with alerts warning about "repainting" *simplified the messaging
릴리즈 노트
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UPDATE to fix the repainting warning that occurs intermittently
Fantastic script, Matt! Thank you! I have my alerts set up as Trend Change on Once Per Bar Close. If I have my chart set on 78 min, like you suggest,will the trigger be active for 5 bars that day or will it just trigger on the daily? Is it something I need to select when I first set the alarm?
Thanks again!
miejzyciedlasiebie
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is it possible to get "strategy version" for testing? I do not know how to make changes for strategy tester
miejzyciedlasiebie
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@miejzyciedlasiebie, I changed word study into strategy but shows no data at all, also in settings I do not have an option to use dates for testing
texanbok
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Hey Matt, Alerts dont work for me. Any ideas?
stinkbug
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Can i ask what makes 78min the best time frame for this? why not 65 or other? Just curious. Also, what is the 30ema/150ema showing, just shorter time frame look? Great indicator thanks for sharing. I been pairing it with TD sequential.
cleverestx
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@stinkbug, because it's designed to give you exactly 5 neat candlesticks a day, and be swing-traded with, not day-traded.
just_naba
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78 min
its so long ,,,,can i use it in 5 or 15 min
cleverestx
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@naba_naif, Doubtful. It's designed to be swing-traded with over a period of days or weeks, not day-traded.
Thanks again!