-The Trend Friend indicator is tuned for 1 HOUR timeframe (BTC) only to capture the overall trend. -Signals are meant to be possible entries and profit taking opportunities -No strategy is 100% -Fib Band width can be adjusted for instrument and volatility
ABOVE BASIS (Uptrend) Long signals = buy and hold bias Short signals = take profit OR scalp opportunities
Price drops below basis, exit Long position
BELOW BASIS (Downtrend) Short signals = Short and hold bias Long signals = take profit OR scalp opportunities
This script is a rare gem. Very good at signalling end of a trend and start of a trend. I use it with another script for confirmation on 4hr chart. Thanks for making it public.