This is the Indicator which will enhance finding Buying and Selling opportunity on any market. Mostly suited for day Trading and some indicator can be used for signalling stock on longer time frame.
Indicators used to create this strategy is as follows: - Exponential Moving Average (EMA) - Supertrend - Volume Weighted Average Price (VWAP) - Exponential Moving Average of Volume Weighted Average Price (MVWAP) - Previous Day Volume Weighted Average Price (PVWAP) - Previous Day High, Low and Close (PDH, PDL, PDC) - And Current Day Support and Resistance points based on Previous day Price Movement.
This will indicate where to buy and Sell with Indicator based on Following criteria, Buy Signal given, - When Close is above Exponential Moving Average 9 - When Close is above Exponential Moving Average 21 - RSI above 55 - Supertrend is positive - Volume is above 300 moving Average - Close is above Volume Weighted Average Price
Sell Signal given, - When Close is below Exponential Moving Average 9 - When Close is below Exponential Moving Average 21 - RSI below 45 - Supertrend is negative - Volume is above 300 moving Average - Close is below Volume Weighted Average Price
Trades can use this Study according to their need of the Indicator. Users can Tick the indicator which they want to add on Charts to study.
Only Exponential Moving Average indicator can be used. Only Supertrend can be used. Volume Weighted Average Price, Previous Day Volume Weighted Average Price, Exponential Moving Average of Volume Weighted Average Price and Previous Day High, Low and Close can be used as a particular study. Support and Resistance can be used along with Previous Day High and Previous Day Low as a particular study.
This is multipurpose Study which will help Trading Society immensely.
This indicator is very useful for the no voice trader like me. As trading view now reduced the free indicators for 2 no's, Am finding it bit difficult to take the trades without CPR. so, could you please add CPR levels with daily and monthly frame in this pine then this indicator will be an one stop destination for everyone. In the current indicator only daily pivot levels are there I can understand that the daily pivots may be suffice the daily need trading but to analyze the supports and resistances w.r.t monthly and weekly basis is need of the hour. kindly insert it. thank you
Deepanshulakra
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Sir thank you so much for the effort! You have made such an awesome indicator that eases the work. once again thanks and keep up the good work.
which timeframe is best for this stratergy and when to enter
pradhan19
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@rohitdabane44, This is best for 5 Minute and 15 minutes. I have explained logic of the Buy/Sell signal in the Description. Please back test at your end before taking trades on this study. If you are not comfortable with the signals, you can untick "Show Long and Short Strategy Signal", and can use other indicators. Along with this, I personally use EMA 252 period (on 5 minute timeframe) to know trend of the market. If price is moving above 252 and signal is buy, then only buy and if price is moving below 252 EMA, then sell. Hope it helps. Thanks.
This indicator is very useful for the no voice trader like me. As trading view now reduced the free indicators for 2 no's, Am finding it bit difficult to take the trades without CPR. so, could you please add CPR levels with daily and monthly frame in this pine then this indicator will be an one stop destination for everyone. In the current indicator only daily pivot levels are there I can understand that the daily pivots may be suffice the daily need trading but to analyze the supports and resistances w.r.t monthly and weekly basis is need of the hour. kindly insert it. thank you