*4 x Multiple Moving averages
The indicator lines are set up to display names to avoid any confusion.
This will free up space to better understand and learn how these indicators interact with price action.
Please note: this indicator makes use of standard indicator calculations and scripts and have no additional edge on the current built in ones, that is freely available within the Trading view platform
Toot helps identify confluence within trading probabilities. Upper and lower ranges to be used to establish good TP areas. and the moving averages to be used along with Fib levels to identify good entry points.
MacD visibility removed and will be reinstated at a later stage.
Initial Setup requirements:
Disable the following lines when you use this indicator; 100 & 200MA( use in downtrend only ), BB20ma, lead1 & lead 2
This indicator contains variants of the following standard indicators :
*4x Moving indicators. 20;50;100;200
Use the 20 over the 50ma as per normal uptrend.
The upper range and the lower range is to by used with Fibonacci retracement tool to establish areas of confluence to enter or exit trades.
The cloud has default values better suited for the 24h crypto markets, and is to be used to identify strong areas of support and resistance, adding more confluence to your trade entries or exits.
MacD is removed until a solution can be found to enable this indicator to plot in a new window pane
How to use:
On default all the moving averages are displayed, I suggest turning most of them off in the indicator settings (gear icon) next to the indicator name.
Note that the alert function will still work even if the indicator visibility is removed.
The Exponential moving averages have been added. Made slightly transparent but this can be adjusted in the indicator settings box.
Same for the moving averages.
Step 01 Go to the chart settings and under the status line insure that "indicator titles" and "indicator Arguments" are both ticked on.
Support : only take this value into consideration if the print is a flat line. If the print is jagged the support is invalid and is not to be used as a possible base to buy.
Resistance : only take this value into consideration if the print is a flat line. If the print is jagged the resistance is invalid and is not to be used as a possible top to sell.
UpperRange : this is the Potential max trading rage to the upside for the specific candle and candle time frame.
LowerRange : this is the Potential max trading rage to the downside for the specific candle and candle time frame.
Gamble Line : Don't buy when price is close to this line value. Your risk to reward will be at 50% (you will be gambling at that time/price)
The idea is to try and secure buys as close to the bottom of the Lower range with your stoplimit set below the range value. This will help you not to put your Stop limit in harms way.
Goal is to buy flat line support levels when the Lower range value matches the Support value
the opposite is true for taking profit
Sell flat line resistance levels when the Upper range value matches the Resistance value
NO TRADE STRATEGY COMES WITHOUT RISK AND WITHOUT A FAILURE RATE
Follow our Daily stream on Youtube: Crypto EMC for further advice on how to trade using this Training wheel tool build to help Beginners find their feet.
Siguiendo el verdadero espíritu de TradingView, el autor de este script lo ha publicado en código abierto, para que los traders puedan entenderlo y verificarlo. ¡Un hurra por el autor! Puede utilizarlo de forma gratuita, aunque si vuelve a utilizar este código en una publicación, debe cumplir con lo establecido en las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.