[NLR] - SweetSpot Zones

22 mar

The Sweet Spot Zone helps you find the best spots to enter a trade, inspired by the "Follow Line Indicator" by Dreadblitz (big thanks to him!). It draws a colored zone on your chart to show ideal entry points, with a Base Point to keep you on track.

What It Does

• Blue Zone: Uptrend—buy when the price dips into the zone.
  
• Red Zone: Downtrend—sell or short when the price climbs into the zone.
  
• Base Point: A gray line showing the key level the zone is built on.
  

How to Use It

• Look for the colored zone:
  - Blue: Buy if the price dips into the zone but stays above the Base Point.
  - Red: Sell/short if the price climbs into the zone but stays below the Base Point.
  
• Important: Avoid entering trade beyond base point - you might see low returns and face big drawdowns.
  
• Confirm with other signals (like RSI/MACD) before entering.
  

Settings

• ATR Length (10): How far back it looks to calculate price movement.
  
• ATR Multiplier (2.5): How wide the zone is.
  
• Error Margin (5.0): Keeps the zone steady during small price wiggles.
  
• Uptrend/Downtrend Colors: Change the zone colors if you’d like!
  

Credits
Inspired by the "Follow Line Indicator" by Dreadblitz—check out his work for more great ideas!

23 mar

Informacje o Wersji

Added other side zone to show possible area where price action may go