Jigga - All Together
Hi All,
We know that one single indicator does not help to take decision. We need combination of indicator to make it work.
I have just added below indicator together
1) MACD
2) RSI
3) Moving average cross over
4) ADX
5) William %R
I have decided few condition as below.
Indicator: MACD , Positive : MACD > Signal Line , Negative : MACD < Signal line
Indicator: RSI , Positive: RSI > Upper band , Negative: RSI < Lower band
Indicator: EMA Cross over , Positive: Fast MA > Slow MA , Negative: Fast MA < Slow MA
Indicator: ADX , Positive: ADX increasing , Negative: ADX decreasing
Indicator: William%R , Positive: %R > Upper band , Negative: %R < Lower band
Calculation:
Indicator value = +1 if it satisfy positive condition and -1 if satisfy negative condition. Final output line will be sum of all indicator values.
I have also added higher time frame lines to have more visibility.
NOTE: This study will be used to see trend momentum and can not be used to trade using this. Please consider reversal candle pattern also.
My Trading style :
Step 1) Wait for indicator to go red for few days.
Step 2) Buy when line turns to green or touches 0 line.
Step 3) Keep stop loss at last swing low
Step 4) Keep trailing stop loss until you get reversal candle pattern.
We know that one single indicator does not help to take decision. We need combination of indicator to make it work.
I have just added below indicator together
1) MACD
2) RSI
3) Moving average cross over
4) ADX
5) William %R
I have decided few condition as below.
Indicator: MACD , Positive : MACD > Signal Line , Negative : MACD < Signal line
Indicator: RSI , Positive: RSI > Upper band , Negative: RSI < Lower band
Indicator: EMA Cross over , Positive: Fast MA > Slow MA , Negative: Fast MA < Slow MA
Indicator: ADX , Positive: ADX increasing , Negative: ADX decreasing
Indicator: William%R , Positive: %R > Upper band , Negative: %R < Lower band
Calculation:
Indicator value = +1 if it satisfy positive condition and -1 if satisfy negative condition. Final output line will be sum of all indicator values.
I have also added higher time frame lines to have more visibility.
NOTE: This study will be used to see trend momentum and can not be used to trade using this. Please consider reversal candle pattern also.
My Trading style :
Step 1) Wait for indicator to go red for few days.
Step 2) Buy when line turns to green or touches 0 line.
Step 3) Keep stop loss at last swing low
Step 4) Keep trailing stop loss until you get reversal candle pattern.
Versionshinweise:
Update Note-
Added Supertrend and ChainkinMF.
Added Supertrend and ChainkinMF.
Versionshinweise:
Updated to @version=5
Versionshinweise:
Notes - Added additional check for Relative strength against Index.
1) Index can be changed from setting. you can use NIFTY / MIDCAP / BANKNIFTY or anything
2) Suggestion is to use NIFTY for large cap stock
3) Background color will be changed if Stock shows strength for all period of 20,50,100,200 days.
1) Index can be changed from setting. you can use NIFTY / MIDCAP / BANKNIFTY or anything
2) Suggestion is to use NIFTY for large cap stock
3) Background color will be changed if Stock shows strength for all period of 20,50,100,200 days.
Versionshinweise:
Indicator started looking messy with too much information.
Removed few unnecessary colors based on user demand.
Removed few unnecessary colors based on user demand.