Trend follower
This indicator is a trend follower that uses exponential moving averages to estimate the trend strength and prints a BUY label every time that price action matches the algorithm conditions. Always wait for the closure of the current candle to confirm the conditions match.
Ideally, the trade should be taken with a BUY STOP order placed above the signal candle and a STOP LOSS below the most recent swing low; make sure you allow enough room for the trade to breathe.
For additional resources, follow my YouTube channel.
You can also join my Facebook group or PM me directly here on Tradingview.
Ideally, the trade should be taken with a BUY STOP order placed above the signal candle and a STOP LOSS below the most recent swing low; make sure you allow enough room for the trade to breathe.
For additional resources, follow my YouTube channel.
You can also join my Facebook group or PM me directly here on Tradingview.
Versionshinweise:
- Added "Close" label
- Added customizable profit taking aggressiveness
- Added customizable profit taking aggressiveness