This script is based on Rob Hoffman's trading strategy. I do my best to implement and cover all necessary parts for the complete strategy, including multiple moving averages and Hoffman's retracement strategy according to bars (45%).
Difference that I do on my own is that my script follow the trend, based on SMA50, so script will not give you Long signals,...
This is my first Pine Script attempt. Nothing special, just an "all in one" for the most common things I use, and what I have found to be the most common in a lot of strategies.
Great for free and limited accounts as it combines 7 total indicators into one.
-- First 5 indicators are Independant Moving Averages:
-Each one can be set for length, as well as source...
uses reversal candles to determine accumulation and distribution candles
remembers the last reversal candle and draws a support or resistance line at the reversal level
does a barcolor if the price breaks support/resistance
similar to the hoffman a/d breakout indicator but there is no trend detection components
Claims by Rob Hoffman
Developed and used to win trading competitions around the world, the Hoffman Inventory Retracement Trade is quickly becoming one of the most popular ways to identify where short-term counter trend institutional inventory has subsided and when it’s time to re-enter into a trade’s original trend direction.
I have not included the TREND...