► DESCRIPTION This indicator calculate works in 2 directions: 1) Calculate SMA & VWAP trends at a fixed value: so it values the price actions according the VWAP level to reach the perfect entrypoint 2) Set the value found at a different timeframe(4Hs if u use tradingview TF of 15 mins) This combination is useful to identify the trend
To help the trader, I placed BUY/SELL signals on the second candle of the same color changed. Furthermore, I placed: - HH and LL of the day(green and red lines) and of the current Week(white lines): these lines help the traders to identify the relative supports and resistances - line red and gray(with big arrows at the start of them): to identify others supports and resistance
► HOW TO USE IT: 1) Entry when a signal(buy/sell) appears or when candles change color: yellow is long, red is short 2) Evaluate where the candle is: for example, if you get a signal "buy", near the Weekly line LL, it's the perfect entry point. The same is if u get a "SELL" signal near the upper white line, it's the perfect moment to enter short. 3) Take profit: we suggest to take profit when RSI is overbought or oversold, that we've pointed thanks the following signals: - colored circles - small diamonds - white circles - Big white diamonds
► Legend: BARCOLORS: Yellow is long and red is short moment MINIARROW buy/sell alert u when the color of candls change COLORED CIRCLES: indicates when Rsi is oversold or overbought. We identify them like good moment to take profit BIG ARROW: Identify support and resistance level SMALL DIAMOND: Use it Like TP. Possible small swing of price can happen WHITE CIRCLE: Use it Like TP. Possible small swing of price can happen BIG WHITE DIAMOND: Use it Like TP. Possible big swing of price can happen
So it's suggested to trade just near this supports and resistence using the right direction: when you have a reversal signal near one of the daily or weekly line, it's a good moment to entry
PLEASE COMMENT HERE BELOW ANY QUESTION ABOUT THIS STUDY
Информация о релизе
Name changed
Информация о релизе
Upgraded RSI overbought and oversold level: from 35 and 55, to 30 and 60. So we'll have less signals of TPs, but more accurate
Информация о релизе
chart updated Buy and sell triangles changed colors to green and red
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