OPEN-SOURCE SCRIPT
Advanced GET: Tom Joseph's XTL, DMA Cloud & Breakout Signals
The Expert Trend Locator ( XTL ) was developed by Tom Joseph to identify major trends, similar to elliott wave 3 type swings.
Blue bars are bullish and indicate a potential upwards impulse.
Red bars are bearish and indicate a potential downwards impulse.
White bars indicate no trend is detected at the moment.
Added to the indicator is the recommended use to enter a position, as explained by Tom Joseph in his book Applying Technical Analysis:
Once a blue or red bar appears, the indicator signals an entry level, a stop loss level and two target levels (2nd is optional).
The levels can be shown until a new signal emerges or just above/below the breakout bar.
Finally, a cloud formed by two displaced moving averages (DMA) is included, which allow the trend to continue its momentum. During an uptrend the lower moving average could serve as a trailing stop, and during a downtrend the upper moving average could serve as the trailing stop.
Enjoy!
Blue bars are bullish and indicate a potential upwards impulse.
Red bars are bearish and indicate a potential downwards impulse.
White bars indicate no trend is detected at the moment.
Added to the indicator is the recommended use to enter a position, as explained by Tom Joseph in his book Applying Technical Analysis:
Once a blue or red bar appears, the indicator signals an entry level, a stop loss level and two target levels (2nd is optional).
The levels can be shown until a new signal emerges or just above/below the breakout bar.
Finally, a cloud formed by two displaced moving averages (DMA) is included, which allow the trend to continue its momentum. During an uptrend the lower moving average could serve as a trailing stop, and during a downtrend the upper moving average could serve as the trailing stop.
Enjoy!
Skrypt open-source
W prawdziwym duchu TradingView autor tego skryptu opublikował go jako open source, aby inwestorzy mogli go zrozumieć i zweryfikować. Pozdrowienia dla autora! Możesz go używać bezpłatnie, ale ponowne użycie tego kodu w publikacji podlega Zasadom Regulaminu. Możesz go oznaczyć jako ulubione, aby użyć go na wykresie.
Chcesz użyć tego skryptu na wykresie?
@FractalTrade_
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.