OPEN-SOURCE SCRIPT
Aktualisiert Mobius - Trend Pivot
// Mobius
// V01.01.29.2019
// Uses trend of higher highs with higher lows and trend of lower lows with lower highs to locate pivots. Distance for trend is set by the user. Confirmation of a reversal from pivots is set with a multiple of the pivot bars range. That multiple is also a user input.
// Trading Rules
// 1) Trade when price crosses and closes outside the pivot Confirmation line. At that point looking for best entry. Min trade is 2 contracts
// 2) Know your risk point before entering trade. Typical risk point is the pivot line itself. If your risk is crossed look for an exit. Never use hard stops - you'll often get out for little or no loss
// 3) Know your Risk off point before entering. Typical Risk Off is an ATR multiple. Offer Risk Off as soon as possible for a Risk Free trade
// 4) set mental stop one tick above entry when Risk Off is achieved
// 5) if trade continues your way move mental stop for your runner to last support / resistance each time a new support / resistance is hit.
The script is an indicator called "Mobius - Trend Pivot" and is designed to be overlaid on price charts. It utilizes a concept called "Mobius - Trend Pivot" to identify potential reversal points in the market based on the trend of higher highs with higher lows and lower lows with lower highs. The user can adjust the parameters through input variables. The script expects two inputs: "n" and "R_Mult." The "n" input determines the distance for trend calculation, and the "R_Mult" input is used for confirming a reversal from the pivots. The script calculates the True Range, which is the maximum of the current bar's high minus the previous bar's close or the previous bar's close minus the current bar's low. It then identifies the highest high (hh) and lowest low (ll) based on the trend criteria using the input variable "n." The script plots lines representing the pivot points, their confirmation levels, and risk-off levels. It also generates alerts when the price crosses above or below the confirmation or risk-off levels. Additionally, it plots shapes (arrows) on the chart to indicate bullish or bearish conditions based on the crossover or crossunder of the price with the pivot levels.
// V01.01.29.2019
// Uses trend of higher highs with higher lows and trend of lower lows with lower highs to locate pivots. Distance for trend is set by the user. Confirmation of a reversal from pivots is set with a multiple of the pivot bars range. That multiple is also a user input.
// Trading Rules
// 1) Trade when price crosses and closes outside the pivot Confirmation line. At that point looking for best entry. Min trade is 2 contracts
// 2) Know your risk point before entering trade. Typical risk point is the pivot line itself. If your risk is crossed look for an exit. Never use hard stops - you'll often get out for little or no loss
// 3) Know your Risk off point before entering. Typical Risk Off is an ATR multiple. Offer Risk Off as soon as possible for a Risk Free trade
// 4) set mental stop one tick above entry when Risk Off is achieved
// 5) if trade continues your way move mental stop for your runner to last support / resistance each time a new support / resistance is hit.
The script is an indicator called "Mobius - Trend Pivot" and is designed to be overlaid on price charts. It utilizes a concept called "Mobius - Trend Pivot" to identify potential reversal points in the market based on the trend of higher highs with higher lows and lower lows with lower highs. The user can adjust the parameters through input variables. The script expects two inputs: "n" and "R_Mult." The "n" input determines the distance for trend calculation, and the "R_Mult" input is used for confirming a reversal from the pivots. The script calculates the True Range, which is the maximum of the current bar's high minus the previous bar's close or the previous bar's close minus the current bar's low. It then identifies the highest high (hh) and lowest low (ll) based on the trend criteria using the input variable "n." The script plots lines representing the pivot points, their confirmation levels, and risk-off levels. It also generates alerts when the price crosses above or below the confirmation or risk-off levels. Additionally, it plots shapes (arrows) on the chart to indicate bullish or bearish conditions based on the crossover or crossunder of the price with the pivot levels.
Versionshinweise
Fixed STO ROVersionshinweise
FixedOpen-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.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
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.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.