Green dot = Trending down. Purple dot = Trending up. Fuchsia dot = Uptrend ended. Lime dot = Downtrend ended. Fuchsia line = The highest value of the last trend (breaking it up means continuation. Lime line = Idem fuchsia line but to the downside. Blue crosses = Could be different things: 1. A dip to buy, 2. A rally to sell, 3. Building a range ... Blue range = Depending on the direction it breaks, is the next direction. Golden line = Candles above favour uptrends, Candles below favour downtrends, also works as support and resistance .
This trading strategy can be traded very mechanically (see this experiment here: tradingview.com/chart/BTCUSD...) But I don't advice to do that, use it along with other indicators to make better decisions ( RSI for example) or volume of the trends and the end of them. Also, you can use higher timeframes to understand better the context.
Hi sir. Can i try this? I added to favorites but not adding. Thanks
Vold316
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@thrilledCamel77436, Hi, this script is public so you should be able to add it to any chart without an invitation.
GoldenBuy
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Very nice indicator, but could you share the meaning of yellow dot?
Vold316
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@wang.bb.sjtu, It doesn't have a yellow dot. Could you show me which one?
GoldenBuy
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@Vold316, Thanks, you are right they are not in this strategy. But I saw two yellow dots above 16 Sep 19 and 07 Jan 19. Are they from another strategy?
Vold316
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@wang.bb.sjtu, Those are ideas that I published, they are shown in the indicator because trading view puts them there, but they are not related to this indicator. Don't take them in consideration.