Trend Following

[mittens]

This chart can be used with any trading method.
The best part of using this chart is you will always know what the trend is and which is the better direction to take a trade.

If people are interested then we can discuss the implementation and trading methods.

 

[asdfgh_in]

this is gold mine. simple and powerful code.

thanks for sharing.

 

[asdfgh_in]

i would put this code on a 1hr timeframe and trade on 5 mins.

 

[monkeybusiness]

This chart can be used with any trading method.
The best part of using this chart is you will always know what the trend is and which is the better direction to take a trade.

If people are interested then we can discuss the implementation and trading methods.

Definitely:thumb::thumb::thumb:

 

[brrand]

The problem occurs when we are in a trend and a small pivot forms ( in sideways congestion ) and takes us out of the trade while continuing the original trend.

So to avoid this, we can use a moving average to choose the pivots which we want to trade. Then take only those pivots which are on the other side of the average.

Can you please explain this mittens?

 

[mittens]

Can you please explain this mittens?

Here's a chart

Can you see the small pivot, in the red rectangle.
That pivot can get you out of the trade, or the pivot before that.

So if your SL is only on the pivots which are on the other side of the cloud, you can be in the trend for longer duration, but with bigger SL.

So ideally what to do should be decided taking in mind S/R levels and Higher TF charts.

Marked the pivots, which should be considered as SL,

But nothing is in stone, all subject to HTF and S/R levels.

 

[mittens]

Amit posted something nice today: this Post

The idea is to take the setup no 2 as in amit's charts, but only if the price is reacting from the cloud.

Example Short, after the price has come below the cloud, then it retraces and reacts from the cloud, and did not penetrates the cloud.

 

[amitrandive]

This chart can be used with any trading method.
The best part of using this chart is you will always know what the trend is and which is the better direction to take a trade.

If people are interested then we can discuss the implementation and trading methods.

Please continue the good work!!!
:clapping::clapping::clapping: