This script is designed for trend trading. Currently set up for stocks long. It's main aim is checking the profitability of the trend trading system that it suggests.
How to use: - When there is a sufficient trend and pullback for an entry yellow dots will appear under the bars. An buy-stop line (green) and a stop-loss line (red) also appear on the chart at this point. - the script tracks having made a trade and continues to draw the stop-loss placement on the chart (red line) - at the bottom of the chart you an see the script tracking the trades it would place. - Yellow squares are a pending setup - A green arrow and green squares are a open position - A pink X means a losing trade and a green flag means a winning trade - At the current bar will be data on how well the strategy would perform on that pair at that timeframe. "RR" is the total RR made over the number of trades (a bad trade is counted as -1). "win %" is the percentage of winning trades.
- If there RR is > 2 and win % is > 50%, the data box will show as green, indicating a good probability for trading success on that pair and time-frame at that moment.
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Updated the study name to avoid confusion
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Minor fix to entry
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Updated the RR data box to be out of the way. The X axis bar placement can be set in the options too
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Improved the stop-loss line rules
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Improved trend data to include trend strength and added higher timeframe mas
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Updated pullback rules
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Updated stop loss to not kick out on the first candle