TrendSniper1989

INDIGO - SwingTrader

This is a script that uses a couple of other indicators to find good swing trade entry's and exit's. You can choose which signals the script uses to calculate the position of the signals.

It uses the following:

- Stoch RSI
- MACD
- POC
- INDIGO Cloud

Also added are volume candles, acceleration of momentum indicators (triangle) and MACD candles. This way you can see more info to decide if the entry is valid.

I have used a couple of public scripts and tried to give credit to the original creators. If there is any script that hasn't been credited, please contact me.

Feedback is very much appreciated, positive and negative. Also If you have any question, feel free to ask me. I'll try to answer asap .

Enjoy the script :)
Release Notes: Fixed a chart error (There was another indicator showing)
Release Notes: Fixed a problem where the SL wasn't positioned properly. Therefore the script didn't know the SL was hit. Now it should know the trade ended in a SL and resume searching for a entry.
Release Notes: BIG UPDATE:

I created optional profit labels. These labels give an estimation of the profit %. It includes fee's (0.4 total), but because trade filling is complex it can't show it with a 100% accuracy. But it's a nice indication. You can turn them on or off to your preference.

The risk now also impacts the entry. With high or super high risk it now can have an entry when the price crosses the bottom 10% line upwards. This way you do more trades but they can be riskier.

I also fixed a minor issue where exit labels where plotted after SL was hit and a issue with the wrong argument for the alerts.

I hope you enjoy these new ideas :)
Release Notes: Another big update:

- I added a Take Profit option, it had an SL option so it needed a TP as well.
- I changed the risk option and removed a lot of customizable options. The settings menu needed to become simpler imo. So you can choose the risk and everything is set automaticly.
- I removed the option for MACD candle color. It was historical information that wasn't really helpful imo. Now you just have the normal candles, a white one, and the current one shows volume.
- Now you can see the exact level of entry, SL and TP. And an estimated level of exit, for which I used the HL2. It's visible as a cross sign in the appropiate colors.
- I also tweaked some internal settings so plotshapes and percentages are more accurate.

If you have any questions or feedback, please feel free to comment them. Also if you like the script let me know ;)
Release Notes: Yet another big update:

- I removed custom options. I wanted to simplify the indicator. These are the best settings to use in my opinion. If you want to customize you can do that in the script itself.
- I added short trades. These are recovery trades to try and earn back a loss when it occurs. This works most of the times, but sometimes it adds to the loss. It is set up though that when that happens the loss percentage is small. But loss is part of trading.
- You now have to check a box to start the indicator. This way you've been made actively aware of the risks of trading.

Again, if you have any questions or feedback please feel free to comment or contact me via email (contact info in bottom of script)

Enjoy :)
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

Thanks for the scripts and updates!, i will try it
Reply
@turkeyopo, You're welcome !! Hope it works for you :)
Reply
Thanks for the scripts and updates! Btw, do you use HA / normal candles on 1 hr?
Reply
@ely2727, I use normal candles on the 1 hr timeframe. For me that works best, but if HA candles work for you let me know !
Reply
ely2727 TrendSniper1989
@TrendSniper1989, 4hr normal candle on stocks work well so far
Reply
Thank you for creating the script ! Question - what does the white candle represent? Change in a direction, either up or down? TIA
Reply
@salsaj, The current candle shows the current volume. To make it easier to read I made the second candle white, it doesn't represent anything. Hope you enjoy the script ;)
Reply
Can we use this for intraday purposes in stocks/indices??? If yes, then what will be the TF settings?? Awesome script though. Hats off to you
Reply
TrendSniper1989 subhdash1984
@subhdash1984, tbh I haven't tried it on stocks/indices. I'd say experiment with the settings and see in the "manual backtest" what settings work best. It should work on every pairing, as long as you use the 1h timeframe. Please let me know what your findings are :)
Reply
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