HPotter

Trend Trader Strategy

13833 views
3238
13833 10
This is plots the indicator developed by Andrew Abraham
in the Trading the Trend article of TASC September 1998
Remove from Favorite Scripts Add to Favorite Scripts
////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 21/08/2014
// This is plots the indicator developed by Andrew Abraham 
// in the Trading the Trend article of TASC September 1998  
////////////////////////////////////////////////////////////
study(title="Trend Trader Strategy", overlay = true)
Length = input(21, minval=1),
Multiplier = input(3, minval=1)
avgTR      = wma(atr(1), Length)
highestC   = highest(Length)
lowestC    = lowest(Length)
hiLimit = highestC[1]-(avgTR[1] * Multiplier)
loLimit = lowestC[1]+(avgTR[1] * Multiplier)
ret = iff(close > hiLimit and close > loLimit, hiLimit,
        iff(close < loLimit and close < hiLimit, loLimit, nz(ret[1], 0)))
pos =	iff(close > ret, 1,
	    iff(close < ret, -1, nz(pos[1], 0))) 
barcolor(pos == -1 ? red: pos == 1 ? green : blue )
plot(ret, color= blue , title="Trend Trader Strategy")
DONATE/TIP

BTC: 3FKWwtaYrf5NHZzaCi1fyAfQj7XSgtyCqe
Not useful if it repaints...
+1 Reply
Hello @HPotter
How can I use it on MT4, please let me know.
Thank you.
Reply
Hi,
Thanks for this.
Don't know how to code and hoping you can help.
Just wondering if you can make a V2 that ads another line "hilimit/lolimit" but with another multiplier (i.e 2)

The purpose of which could be for getting out of the trade quicker or adding to positions if price bounces off this new line.

regards
Reply
blueSkies blueSkies
hi @HPotter ,
I got it to work. :)
Reply
HPotter blueSkies
@blueSkies, Good )
Reply
wow...... you are really great.
Reply
HPotter rainboo
@rainboo, Thank you.
Reply
Does this re-paint?
+4 Reply
HPotter jgree107
@jgree107, Yes
+1 Reply
It seems to be somewhat useful in the daily chart and less helpful in a weekly chart.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out