CapnsSurfer
This is a simple RMA Trend that may help you decide for SL or TP. Similar to CapnsBands this uses Donchian Channels.. but remember. Your Trade Your Money
Howto Read Capns Surfer - I will write more later
First of all this is NOT a BUY or SELL indicator. However with this you can define sweet spots for ENTRIES, or TRAILING STOPS and recognize the trend.
Sweetspots
Howto Read Capns Surfer - I will write more later
First of all this is NOT a BUY or SELL indicator. However with this you can define sweet spots for ENTRIES, or TRAILING STOPS and recognize the trend.
Sweetspots
//@author CapnOscar study(shorttitle="CapnsSurfer", title="CapnsSurfer", overlay=true) //Define Variables uprsi = 51 dorsi = 49 //MajorTrend major = close, majlen = input(84, minval=1, title="MajorTrend RSI" ) majup = rma(max(change(major), 0), majlen) majdo = rma(-min(change(major), 0), majlen) majtrend = majdo == 0 ? 100 : majup == 0 ? 0 : 100 - (100 / (1 + majup / majdo)) //ColorMajorRSI majcol = majtrend > uprsi ? lime : majtrend < dorsi ? red : yellow //Define Donchian Bollinger back = input(1, minval=0) price = close range = input(2, minval=0) lower = lowest(majlen/range) upper = highest(majlen/range) basis = avg(upper[back], lower[back]) trend = rma(price, majlen) l = plot(lower[back], color=silver) u = plot(upper[back], color=silver) MajTr = plot(trend[back], linewidth= 4, color=majcol) fill(u, MajTr, color=blue, transp=95) fill(MajTr, l, color=red, transp=95) //Define Mas hiout = rma(high, 3) loout = rma(low, 3) //Define 20Mas hiout2 = rma(high, 20) loout2 = rma(low, 20) //ColorTrueMa truemacol = hiout > trend ? green : loout < trend ? red : yellow truema = hiout > trend ? loout : loout < trend ? hiout : avg(hiout,loout) truMa= plot(truema, color=truemacol, linewidth= 1, title="TinyTrend") //ColorTrueMa2 truemacol2 = hiout2 > trend ? green : loout2 < trend ? red : yellow truema2 = hiout2 > trend ? loout2 : loout2 < trend ? hiout2 : avg(hiout2,loout2) truMa2= plot(truema2, color=truemacol2, linewidth= 1, title="TinyTrend") fill(truMa, MajTr, color=aqua, transp=90) fill(truMa2, MajTr, color=blue, transp=90)