and how to reduce risks by entering a trade on a double confirmed signal.
You can use in the xPrice any series: Open, High, Low, Close, HL2 , HLC3, OHLC4 and ect...
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.
//////////////////////////////////////////////////////////// // Copyright by HPotter v1.0 25/07/2014 // This simple indicator gives you a lot of useful information - when to enter, when to exit // and how to reduce risks by entering a trade on a double confirmed signal. // You can use in the xPrice any series: Open, High, Low, Close, HL2, HLC3, OHLC4 and ect... //////////////////////////////////////////////////////////// study(title="FX Sniper: T3-CCI Strategy", shorttitle="T3-CCI") CCI_Period = input(14, minval=1) T3_Period = input(5, minval=1) b = input(0.618) hline(0, color=purple, linestyle=line) xPrice = close b2 = b*b b3 = b2*b c1 = -b3 c2 = (3*(b2 + b3)) c3 = -3*(2*b2 + b + b3) c4 = (1 + 3*b + b3 + 3*b2) nn = iff(T3_Period < 1, 1, T3_Period) nr = 1 + 0.5*(nn - 1) w1 = 2 / (nr + 1) w2 = 1 - w1 xcci = cci(xPrice, CCI_Period) e1 = w1*xcci + w2*nz(e1) e2 = w1*e1 + w2*nz(e2) e3 = w1*e2 + w2*nz(e3) e4 = w1*e3 + w2*nz(e4) e5 = w1*e4 + w2*nz(e5) e6 = w1*e5 + w2*nz(e6) xccir = c1*e6 + c2*e5 + c3*e4 + c4*e3 cciHcolor = iff(xccir >= 0 , green, iff(xccir < 0, red, black)) pos = iff(xccir > 0, 1, iff(xccir < 0, -1, nz(pos, 0))) barcolor(pos == -1 ? red: pos == 1 ? green : blue ) plot(xccir, color=blue, title="T3-CCI") plot(xccir, color=cciHcolor, title="CCIH", style = histogram)
USDT (TRC20): TH29EEXa19vfwZNYvxdUuMxoFY5QDYLcWG
First of all thanks for the strategy, it is really nice and useful.
I wanted to ask you if you have the same issue I'm having: I sometimes get double alerts on different candles. So, for example, if I entered short, maybe after a candle or two the wave would again "touch" the trend line and consider itself as a crossing down, triggering a second alert.
Is there any way to avoid this?