Trendy Trader
- Indicators
- Stephen Reynolds
- Version: 1.1
- Updated: 10 May 2023
Unlike a standard moving average, trendy traders unique algorithm will show you a less choppy signal resulting in a smoother and easier trend to follow thereby making your trading decisions more confident.
Put simply when price moves above the average it signals a bullish trend and when price moves below the average it signals a bearish trend.
The trader is then given 2 levels of take profit and a stop loss on each new signal. It can also be added to other trend-following systems for better performance.
It will work on any timeframe and market its placed onto.
Features :
- Does not repaint the signal everything is strictly signal on close of bar
- Works on most timeframes and markets
- Includes a main panel verifying how effective the strike rate of signals are
- Includes a panel showing what the indicator is doing on other timeframes
- Builds confidence by smoothing out market noise
- Integrated pop-up, email, push notification and sound alerts
Settings :
Amplitude - The number of bars used to calculate rend
Take Profit 1 - The distance from stop loss. Input as 0.2 means 20% of stop loss
Take Profit 2 - As explained above
Stop Loss - The co efficient, take profit levels are based upon
Bull Color - The color of arrow and line
Bear Color - The color of arrow and line
Take Profit Color - The color of take profit
Stop Loss Color - The color of stop loss when hit
Lookback - How far back in bars the signal is applied
How to trade this Indicator :
After the indicator has realized a new signal look to the chart panel. There you will see two take profit prices and a stop loss price.
Next enter your trade with these recommendations. When take profit 1 is reached you can either partially close the trade or move stop loss to break even.
Next when take profit 2 is reached close out your trade. You should now have made some profits!
