- Draw 3 moving averages (MA) with circles line. - Option to choose type of MA to plot. - Draw start point of those MA with a big cross. - Option to draw channel: Donchian, Bollinger and Envelope. - Option to draw stop loss line: ATR or Percentage. - Draw background color in monthly, weekly, daily, intraday, ... chart (remember to choose your correct timezone if using intraday chart). - Draw a label of last price. - Draw next prices.
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Added comments and showed stop loss line for demo purpose.
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Option to show / hide MAs.
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New chart view.
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Add intraday labels which show day number in month and weekday name.
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Add hour range to draw sleep time in intraday chart.
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Fixed time zone issue for exchange that has non-UTC timezone.
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Fix weekly background issue.
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Fix channel len issue.
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- Use TDEMA as the default MA now. - Use bigger periods to catch trend easier. - Drawed a band between small and medium period (MA1 and MA2) lines. - The position of this band and the big period line (MA3) is the key to check the trend now.
Updated with some background painting now. Not 100% correct but here's the idea:
If the band is above the black MA (biggest period) then most likely it will be an uptrend. So the good timing to TRY to enter long is when - the band is green and - above the black MA and - the price is below the band or below the AVG line.
If it's uptrend but the band is turning red, it might be downtrend soon.
Vice versa for the short.
Daveatt
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Great job indeed
Is there a reason for this ?
if stopLossType == "Min"
max(perStopPrice, atrStopPrice)
if chosen stopLossType is Minimum then select the Max between the percentage and ATR ? Sorry for the dumb question
Daveatt
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@Daveatt, you're really an underrated pinescripter. Love this script
niceboomer
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@Daveatt, sorry I missed this. The MIN here is to minimize your loss, so it should trigger as soon as it touch the biggest stop value.
If the band is above the black MA (biggest period) then most likely it will be an uptrend. So the good timing to TRY to enter long is when
- the band is green and
- above the black MA and
- the price is below the band or below the AVG line.
If it's uptrend but the band is turning red, it might be downtrend soon.
Vice versa for the short.