Super Tunnel by JP Goswami

One of the most accurate trend following indicator I have used till now. You yourself can test it by using on multiple charts and time frame. However, I have found it more accurate on intraday charts, may be 5 min & 15 min TF.

Highlights are:

> High Prediction rates
> Non repainting
> Can be used on MTF
> Simplicity
> Give stoploss levels

Disadvantage:

> Just like any other trend following indicator, volatility and spikes are enemy of this indicator

How to Use

Long:
When Price closes above the tunnel & background is Lime
Stoploss: Just below lower line of the tunnel

Short: When price closes below the tunnel & background is yellow
Stoploss: Just above upper line of the tunnel

No trades: When background doesn't have any colors


Reentry: if Price moves back to long and short rules

All the best
© JP Goswami

Release Notes:

Added:

Long and Short Arrows

Release Notes:

Hi Guys! This is me again !

After using this script for nearly 2 months, I have made few improvements for accuracy. Please remember, this script only gives you entry and stoploss. For consistent winning, you need to trail your stops as per your comfort and adhere to a strict money management policy ( Profit booking, Targets etc)

The basic script remains same, but made it more visual and easier to understand:

1. Long Entry
When white bars closes above the upper line of the super tunnel. Stop loss just below the lower line of the tunnel

2. Short Entry
When orange bars close below the lower line of the super tunnel. Stop loss just above the upper line of the tunnel

Back Ground and Tunnel colors
They are just to give an idea of ongoing trend. Normally long positions shall be more accurate when bachground is green and tunnel is blue and vice versa.

All suggestions are welcome.

Release Notes:

Super Tunnel is now only with basic functionalities. The color changes and bar color indicators are available in the pro version along with more enhanced features and add on.