XARD Like v1.0 Simple Trend Following Strategy

This is my understanding on one of trend following strategy (Original Strategy Creator is XARD at forex-station forum) utilizing several indicators:

Semaphore to identify potential reversal points
Moving averages to confirm semaphore signal
Daily Open line to give general trend direction bias
Zigzag also to help clarify trend direction

How to trade this strategy?

There are 4 different color of semaphore:

Magenta to show general trend direction bias
Red to show a more immediate trend direction
Orange to confirm red semaphore dot
green to add position once you are on a trade

1a. Identify where a Magenta semaphore then wait for Red semaphore with the same direction as Magenta to appear.
1b. Locate daily open line, if candles are above it then only looking for buy trade and vice versa.
2. After a red semaphore appear, wait for Moving Average Cross (I put a trade signal for each cross) then you can enter a trade
3. If you think you want more confirmation, you can also wait for an Orange semaphore with the same direction as magenta and red semaphore to enter a trade.

I hope this description is clear enough

Versionshinweise

Version 1.1

I added additional Donchian Channel, now there are 2 Channels, I personally use them to see where the last Red and orange semaphore also to mark pulldown

Versionshinweise

Small update on Donchian Channels, now line color will change when price is above or below mid line.

Versionshinweise

In this version, I added:

Bollinger band with option between Heiken Ashi Close and Default Close
Average Daily Range showing 15%, 25%, 50%, 75% and 100%

Versionshinweise

A little bit of house keeping. Optimizing code, no change in appearance nor function

Versionshinweise

Version 1.4

Made a small grouping mistake, corrected and published

Versionshinweise

I have to replace zig zag script with a new one because it did not work properly on M1 timeframe.

Versionshinweise

I decided to remove Donchian Channel and Bollinger band as they are not really giving any significant confluence to the system, instead I added 3 bollinger stop.

1 way to use them is to wait for red or orange semafor dot to form among 3 bollinger stop lines and place your entry as soon as candle cross EMA 36.

Versionshinweise

After several trial and error, I decided to remove bollinger stops as it appears prevent zigzag from acting up in 1 minute time frame

Versionshinweise

Error has been fixed, hope we'll have a smooth trading experience from now on...

Open-source Skript

Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.

budhimulyono

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Open-source Skript

budhimulyono