All the slope direction line indicators I have seen are repainting Hull moving averages.snoopyzam wrote: Fri Apr 12, 2024 11:40 pm kalman filter 2.1 velocity histo and (T_S_R)-Slope Direction Line are same indicators.
That is absolutely right, I have been to so many threads in this side and tried most of the slope and other histograms or arrow indicators using them in expert advisor, none survived longer and mostly turned in to either back to back SL or in term of martingale, million orders. I am honestly surprised with Mr. Tool, Mr. Mladen and Mr. Mntiwana work and dedication here, traders have just used their skills for either adding arrows, alerts, change colors or add notifications etc. but none have shared any strategy to get their help and turn it into a holy grail robot. I honestly say from the heart, Mr. Tool, Mr. Mladen and Mr. Mntiwana are the gems and we are lucky to have them ❤mrtools wrote: Sat Apr 13, 2024 2:00 am All the slope direction line indicators I have seen are repainting Hull moving averages.
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https://www.tradingview.com/script/U1SJ8ubc-HalfTrend/ChatGPT wrote:The Forex Donchian Channel is a technical analysis indicator used in trading, named after its creator, Richard Donchian. It's primarily utilized to identify potential breakout levels and to gauge the overall market volatility.
Here's how the Donchian Channel works:
Construction: The Donchian Channel consists of three lines:
Upper Band: This line marks the highest price over a specified period (typically the last N periods).
Lower Band: This line marks the lowest price over the same specified period.
Middle Band (Optional): This is often the average of the upper and lower bands and can serve as a midpoint or a moving average line.
Usage:
Breakout Identification: Traders use the Donchian Channel to identify potential breakout levels. When the price breaks above the upper band, it can signal a bullish breakout. Conversely, when the price breaks below the lower band, it can indicate a bearish breakout.
Volatility Measurement: The width of the channel (the distance between the upper and lower bands) is used as a measure of market volatility. Wider channels suggest higher volatility, while narrower channels suggest lower volatility.
Trading Strategies:
Trend Following: Traders might use the Donchian Channel to identify trends. For example, in an uptrend, they may look for buying opportunities when the price rebounds from the lower band.
Breakout Trading: Traders might initiate trades when the price breaks out of the channel, using the breakout direction as a signal for trade entry.
Parameters:
Lookback Period (N): This is the number of periods (such as days or hours) used to calculate the highest high and lowest low for constructing the bands.
Middle Band Period (optional): If using a middle band, this parameter defines the period for calculating its moving average.
The Donchian Channel can be applied to various timeframes (daily, hourly, etc.) and can be adjusted by changing the lookback period to suit different trading strategies or market conditions. It's a simple yet effective tool for identifying potential trading opportunities based on price action and volatility.
How many days you tested this?Banzai wrote: Fri Apr 19, 2024 1:55 am Half Trend
XAUUSDM5_halftrend.png
10 wins in Euro session if we buy at RSI(3) is less than 30.
10 chances to enter Long on Thursday, 4/18/24 for the Gold pair.
lol, only 1 day. That’s today. Oh, this is for scalping in M5 chart.
How's it looking today?Banzai wrote: Fri Apr 19, 2024 2:28 am lol, only 1 day. That’s today. Oh, this is for scalping in M5 chart.
For scalping, we go for 3 to 5 pips.
Hello Banzai, how are you? Does this FRM Halftrend indicator need any additional indicators? because it didn't load on my chart.Banzai wrote: Fri Apr 19, 2024 1:55 am Half Trend
Coder: Nesimeye Oswald
Date: January 23, 2023
This indicator was converted from a TradingView indicator by everget:This system is a popular trend indicator based on ATR ( Average True Range ) , Moving Averages and the Donchian channel.Code: Select all
https://www.tradingview.com/script/U1SJ8ubc-HalfTrend/
System BackGround
ATR or the average true range is an indicator of the price volatility of an asset. It is best used to determine how much an investment's price has been moving in the period being evaluated rather than an indication of a trend. Calculating an investment's ATR is relatively straightforward, only requiring you to use price data for the period you're investigating. ----- Investopedia
Moving Averages
A moving average (MA) is a stock indicator commonly used in technical analysis, used to help smooth out price data by creating a constantly updated average price. A rising moving average indicates that the security is in an uptrend, while a declining moving average indicates a downtrend. The exponential moving average is generally preferred to a simple moving average as it gives more weight to recent prices and shows a clearer response to new information and trends. ---- investopedia
HOW TO USE
The indicator is an Oscillator that creates an Upper and Lower ATR trailing channel along the path of the current trend line.
The Upper and Lower ATR lines can be used as Take Profit and Stop Loss Points for trades.
The system can be used on all time frames and symbols / pairs
INPUTs
Amplitude : This is the trend period , defines the length of trend to consider, lower amplitude means shorter trend period, gives more sensitive entries and more signals but might be less accurate than long amplitudes which are usually more stable.
Channel Deviation : Defines the upper and lower ATR channel zones
XAUUSDM5_halftrend.png
10 wins in Euro session if we buy at RSI(3) is less than 30.
10 chances to enter Long on Thursday, 4/18/24 for the Gold pair.
RodrigoRT7 wrote: Wed Apr 24, 2024 7:40 am Hello Banzai, how are you? Does this FRM Halftrend indicator need any additional indicators? because it didn't load on my chart.
I installed this version of IG to test and was also unsuccessful. he should ask for some auxiliary version of a basic half trend.
