SuperBars

SuperBars is a script that helps define trends within a stock. While SuperBars can be used on any time frame it really shines on the Daily due to the larger price fluctuation. It was designed to keep winning positions big and losing positions small. However, trading the reversals on this indicator can be detrimental please keep tight stop losses when trading the fuchsia/black reversal or the silver/yellow reversal. Below are the rules to trading SuperBars:

Rules

• Fuchsia is a long position. Hold until black bar appears.
  
• Fuchsia followed by black also indicates a small reversal. Exit on the next color bar that is not black WITH EXCEPTION TO SILVER. If silver, then follow silver rules.
  
• Silver is a short position. Hold until yellow bar appears.
  
• Silver followed by yellow indicates a reversal (usually larger than the fuchsia/black reversal). Exit on the next color bar that is not black WITH EXCEPTION TO FUCHSIA. If fuchsia , then follow fuchsia rules.
  
• Gray is none trend, do not trade.
  

How to get SuperBars

• Send me a direct message on TradingView (InformantJoe)
  

Versionshinweise:

Added potential take profits for fuchsia and silver plays.

Versionshinweise:

Updated take profit text.

Versionshinweise:

• Updated versioning
  
• Added environment for buying/selling/ indecision
  
• Updated a color coding
  
• Alert conditions now available
  

Versionshinweise:

• Update for ML testing. Plots added defining silver, pink or any other.
  

Versionshinweise:

• Added take profit plot for ML test
  

Versionshinweise:

• Update take profit bool order for ML strategy
  

Versionshinweise:

• Updated comments for ML updates
  

Versionshinweise:

• Optimized look period
  
• pink and silver are just buy and sell
  
• built in optimized buying/selling
  

Versionshinweise:

• Daily Resolution
  

Versionshinweise:

• Fixed time frame configuration bug