1) the close is about the open
2) Weis Waves are positive
3) There is a Green Candle
Indicates a sell signal when:
1) there is a red candle
2) the clos is below the open
This helps you get in at the beginning of every trend but mitigates losses if a downtrend occurs
I like to use it with 4 hour candles. I haven't tried it with lower scales.
Shoutout to @LazyBear for the Weis Waves
I like to use this indicator with 45 minute candles for BTC . I haven't tried it with lower scales.
My apologies if the syntax for some of the code is weird. I'm used to c++ and this is the first time I'm coding using PineScript.
This indicator attempts to tell you when you should buy into or sell out of a position. I combined some of my favorite indicators to make the buy signal.
Indicators used: Stochastic RSI , Weis Wave Volume , EMA open, EMA close, and classification of candle size. As well as a few conditional statements I came up with to try my best to get rid of false uptrend signals.
I’m trying to get in at the beginning of every potential uptrend, while mitigating losses during a potential downtrend.
The main idea is that when the indicator switches to 1 that's when you buy, when the signal switches to 0 that's when you sell. If you want an alert i recommend
setting an alarm for when the indicator crosses 0.5, once per bar close. That's what I do.
The settings I have as default are for the 45 minute time interval for BTC . Also this is for more of a bear market at the moment. Increasing the time intervals or a change to a bull market would need an increase in the input settings for timesBigger, crumbSize, crumbSize2 and bigCandleInputSize. This is due to the fact the candles, on average, can be much bigger when these changes occur. I have yet to mess with the settings so I have no recommendations to give. Again, my apologies.
I am currently working on version 3.0
Any ideas to improve my code? I'm all ears. I want to make an indicator that will just tell me when to trade. I want to get rid of the need to be staring at charts all of the time. Isn't that the dream?
I’m trying to find that “secret sauce” that puts me ahead of the game.
*so sorry, I attached my email to my last version which got me a warning*
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.