Xtreme Trend

Disclaimer: This base Script is derived and tweaked from Half Trend. But unlike halftrend, it doesn't repaint and signals come at different logic.

Background:

I was using this script and trading with this for a while. Few weeks back I had come across a similar Script being sold as premium in Tradingview for $100 per month. The seller has a lots of videos in youtube and claims that he has created this script by investing lakhs and it also takes consideration of price action !!! . No doubt he is a successful trader but if you watch his other videos you will realize that he trades with S/R, trendlines and price action. He speaks quite well, and the morphed videos give impressions that all his profits are from using this indicator. I fell for it, but then after using for a few days I had realized that both the indicators are almost same, but giving signals at different time. When I edited my indicator for a few settings, it appeared that now signals are also coming exactly at same point. I never wanted to publish this script, but this person was going on and on fooling people. So, I have decided to publish it here, as a protected code. Again this is no holy grail. Works well in trending market and hell in sideways.

How to Use:

PLEASE WAIT TILL CANDLE CLOSE, take entry in the beginning of next candle. Time frame: 5 mins for index, 15 mins - 30 mins for stocks

Add 200 EMA over it ( Personally I love using 50 MA) and buy when signal and price both are on same side. Example, buy when there is buy signal + price is above 200 EMA
Sell: When price is below 200 EMA and there is a sell signal on the indicator.

Seems better when you mix it with pivots, S/R etc.


please comment, if you find this useful.

ملاحظات الأخبار:

Xtreme Trend V2:

Alert Added,
Refined codes,
EMA added.
WARNING: Please only buy sell on candle close