This indicator has almost everything for intraday trading . There are two supertrends one with higher time frame and one at lower time frame, Due to which we can recognize reversal. If higher time frame supertrend is showing uptrend and minor is showing downtrend then better to avoid taking any trade in between. Both trend should be in same direction. Tenkan and kijun is there to verify the trend authencity, check where the tenkan and kijun crossover is there or not at the time of reversal signal given by supertrends. It will boost trading chances. Also VWAP is placed to know the current situation, If price is below VWAP go for sort if all other things match as above said. HEMA LEMA is a EMA band and i found that it act as support and resistance, If price breaks channel with volume and sustain above/below for 2 candle close (TIMEFRAME AS SYMBOL). Also placed FAST EMA to recognize the fast moving trend. Pivot with CPR is there to trade on basis of CPR and Pivot.
For demand and supply traders, they can use blue and black candle for marking up zones. Blue is boring/base candle and Black is explosive candle.
I hope it will help my trader friends to recognize the trend and reversal. Let me know if anything more we need to include or remove to make it better for everyone.
Minor Changes in default "Factor" ,Now value can be changed in decimal previously it was add by 1 now 0.1 can be added in factor.
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Minor changes in color codes and Changed fast ema to slow ema of 200 by default
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Minor changes in color coding
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Added Aurto Support & Resistancce
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Now it will recognize candle stick and its pattern
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Color Code Changed for better view of candle pattern interpretation.
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Color of candle pattern and position of level can be changed from setting.
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Added R4 and S4 Pivots
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MInor Bug Fixed
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Added auto mark of supply and demand zone (Buying and selling pressure). zone marked in green are demand zone and it act as support and red zones are supply zone which act as resistance. Price action traders will find it usefull.
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Added RSI= If rsi line above prce it reflect bearishness. Harami and Engulfing are most powerfull candlestick... It show reversal as well as booster to trend. Keep eyes on it.
#Find engulfing in 15 min TF with major trend ... and go with that.
will it be auto-updated as u r doing some changes?? And what's the accuracy. I am asking because I added it today morning itself. and what's the best timeframe to watch this script? 5 min or 15 min?? and 1 more thing, plz tell, when to take buy trades and when to go for sell (conditions only). plz reply. Thank you.
Indyan
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@subhdash1984, Sorry to reply late, first you select a 15-minute time frame, in which an engulfing or harami candle is being formed, then you set up its trade setup accordingly. With that, pay attention to the major trends and minor trends.Take entry on the basis of major trend followed by harami or englufing of 15 minutes timeframe. afterwards move to 5 minutes timeframe for trail stoploss as minor trend.
This script has option to enable/disable the things as per your need. For update you can choose version from pine script. and for updated version simply reinstall the script, it will be replaced with latest updated one,
Hope it helps you...
Thanks
subhdash1984
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@Indyan, Thank you so much once again for the instruction clearly defined by you and the beautiful script made by you. Now I understood the details. Every time I am reinstalling the script for the latest updates. I had certain doubts. Thank you, you made it clear. Have a great time.
viveksingh04
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what is meaning of lookback period ,and also requesting to you pl.explain how to change the colour of text (i.e engulfing, morning star ....)
sachinsgawali76
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@Indyan ..really good script. Probably the only one with setable super trend time frame. I have started using it from last 15 days. Only one concern I have noted is the size of arrows. Is it possible for you to make the size of arrows bit bigger. Or you can add setable size for the arrows like color setting.
rajaram2505
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I was looking for Indiactor which can have multiple indicators bundled in single Indicator. and here I found the same. Thanks a lot INDYAN for creating such a wonderful indicator. Also your MACD+RSI combine indicator works wonder.
Have a small request for you. Can you add 3 SMA and 3 EMA with standard setting as 20/50/200 and allow the user to change its value as per his/her need/strategy.
Also along with pivots, can you add Previous day High / Low. Pls reply when free.
Overall you have done a WONDERFUL JOB.