EZ Profit Maker
Part of the EZ Profit Maker Suite
- EZ Profit Maker
- EZ Profit Maker Buddy 1
- EZ Profit Maker Buddy 2
THE 'PROBLEM'
A lot of buy and sell strategies are based on price action being at a particular (support) level, crossovers of different moving averages or of price action over moving averages or trend lines . A Trader waits for price/moving averages to reach a particular level/configuration by then the STOP LOSS is too GREAT. So for a trade to be taken price will have to move XX% amount before it crosses a critical point/level. Also the Risk:Reward would have to too GREAT. So if price reverses you will end up losing too much of your assets.
THE 'SOLUTION'
I wanted to code a buy/long and sell/short multi timeframe Scalper and Trend Trading setup indicator which makes (long) calls as early as possible therefore maximizing profits and minimizing losses whilst also identifying local tops/bottoms at which profits may be taken if so desired. This will assure you have a tighter reliable Stop Loss.
THE METHOD
The idea of this indicator is to keep a tighter Stop Loss while preserving and making greater PROFITS by following the trends and micro trends of current and higher timeframes. The results of these comparisons are then combined with multi timeframe Technical analysis and Price Action, in so doing one is able to detect shift reversals earlier than conventional indicators would. Consequently, a setup can be created very close to the bottom/top of a rally. In addition, a 'take profit' setup can be created from what has been identified as a local top/bottom. Please refer to the attached chart where it becomes evident quite immediately that buy/long and sell/short and TP setups allow for maximization of a given trend, hence maximizing profits.
MARKETS
The script may be applied to any market i.e. crypto, forex, stocks, options - as long as there's a chart on Tradingview, it will work.
CONDITIONS
The script works well in all time frames (ask for higher timeframe customizations).
CAVEAT
A lot of care and attention has been put into upgrading and improving this script, it needs to be stated that nothing is perfect. Two issues that one needs to be aware of:
1.) Sometimes setups will not be made as early as the actual bottom of a long/short run.
a.) Most of the setups made by the script are close to a bottom and therefore profits realized from this are far more than any losses accrued from a late call.
b.) The script should never be used in isolation but along with the other 2 indicators (EZ Profit Maker Buddy 1 and EZ Profit Maker Buddy 2) in the suite.
2. Sometimes a 'bad' trade may be made do to emotions and markets.
a.) The script has a 'smart stoploss' feature that calls for exit setups as soon as the long/short call was not a favorable one. This will help to minimize losses by cutting them quickly with tighter Stop Losses.
LIST OF FEATURES IN EZ PROFIT MAKER SUITE:
EZ Profit Maker Suite
- HA Candle Overlay
- Auto/Manual Higher Time Frame Backgound Candles
- Stop Loss Line
- Swing Trade Line
- Micro Trend Line
- MA Hybrid Bands
- Auto Wedge Tool
- Pivot Top/Bottom with price Low/High Labels
- Trend Breakout / Reversals
- Higher Time Frame Trend Labels
- Simple Hybrid Trend Breakout Line with Stoploss
EZ Profit Maker Buddy 1
- Current Volume / Avg Volume
- Higher Time Frame Candle Width % / HTF Candle Body %
- Auto Fibonacci Lines
- Higher Time Frame Background Candles REG/HA
- Support / Resistance Lines (auto color changing)
EZ Profit Maker Buddy 2
- OverBought / OverSold Trend Levels
- Multi Time Frame Trend Levels
HOW TO GET AND USE THE SCRIPT
Since its invite only, please PM me and I will be happy to add you. Once added, you will see the list under Indicators >>> Invite only scripts, at which point you click and it will show on your chart. It also needs to be stated that there is a no obligation trial period during which one is encouraged to 'test-drive' the script to your hearts content.
FREE Setup is included with paid script...
Disclaimer: The script is for informational and educational purposes only. Use of the script does not constitutes professional and/or financial advice. You alone the sole responsibility of evaluating the script
- EZ Profit Maker
- EZ Profit Maker Buddy 1
- EZ Profit Maker Buddy 2
THE 'PROBLEM'
A lot of buy and sell strategies are based on price action being at a particular (support) level, crossovers of different moving averages or of price action over moving averages or trend lines . A Trader waits for price/moving averages to reach a particular level/configuration by then the STOP LOSS is too GREAT. So for a trade to be taken price will have to move XX% amount before it crosses a critical point/level. Also the Risk:Reward would have to too GREAT. So if price reverses you will end up losing too much of your assets.
THE 'SOLUTION'
I wanted to code a buy/long and sell/short multi timeframe Scalper and Trend Trading setup indicator which makes (long) calls as early as possible therefore maximizing profits and minimizing losses whilst also identifying local tops/bottoms at which profits may be taken if so desired. This will assure you have a tighter reliable Stop Loss.
THE METHOD
The idea of this indicator is to keep a tighter Stop Loss while preserving and making greater PROFITS by following the trends and micro trends of current and higher timeframes. The results of these comparisons are then combined with multi timeframe Technical analysis and Price Action, in so doing one is able to detect shift reversals earlier than conventional indicators would. Consequently, a setup can be created very close to the bottom/top of a rally. In addition, a 'take profit' setup can be created from what has been identified as a local top/bottom. Please refer to the attached chart where it becomes evident quite immediately that buy/long and sell/short and TP setups allow for maximization of a given trend, hence maximizing profits.
MARKETS
The script may be applied to any market i.e. crypto, forex, stocks, options - as long as there's a chart on Tradingview, it will work.
CONDITIONS
The script works well in all time frames (ask for higher timeframe customizations).
CAVEAT
A lot of care and attention has been put into upgrading and improving this script, it needs to be stated that nothing is perfect. Two issues that one needs to be aware of:
1.) Sometimes setups will not be made as early as the actual bottom of a long/short run.
a.) Most of the setups made by the script are close to a bottom and therefore profits realized from this are far more than any losses accrued from a late call.
b.) The script should never be used in isolation but along with the other 2 indicators (EZ Profit Maker Buddy 1 and EZ Profit Maker Buddy 2) in the suite.
2. Sometimes a 'bad' trade may be made do to emotions and markets.
a.) The script has a 'smart stoploss' feature that calls for exit setups as soon as the long/short call was not a favorable one. This will help to minimize losses by cutting them quickly with tighter Stop Losses.
LIST OF FEATURES IN EZ PROFIT MAKER SUITE:
EZ Profit Maker Suite
- HA Candle Overlay
- Auto/Manual Higher Time Frame Backgound Candles
- Stop Loss Line
- Swing Trade Line
- Micro Trend Line
- MA Hybrid Bands
- Auto Wedge Tool
- Pivot Top/Bottom with price Low/High Labels
- Trend Breakout / Reversals
- Higher Time Frame Trend Labels
- Simple Hybrid Trend Breakout Line with Stoploss
EZ Profit Maker Buddy 1
- Current Volume / Avg Volume
- Higher Time Frame Candle Width % / HTF Candle Body %
- Auto Fibonacci Lines
- Higher Time Frame Background Candles REG/HA
- Support / Resistance Lines (auto color changing)
EZ Profit Maker Buddy 2
- OverBought / OverSold Trend Levels
- Multi Time Frame Trend Levels
HOW TO GET AND USE THE SCRIPT
Since its invite only, please PM me and I will be happy to add you. Once added, you will see the list under Indicators >>> Invite only scripts, at which point you click and it will show on your chart. It also needs to be stated that there is a no obligation trial period during which one is encouraged to 'test-drive' the script to your hearts content.
FREE Setup is included with paid script...
Disclaimer: The script is for informational and educational purposes only. Use of the script does not constitutes professional and/or financial advice. You alone the sole responsibility of evaluating the script
Versionsinformation:
small edits
Versionsinformation:
edits
Versionsinformation:
Even Easier. No need for EZ Profit Maker Buddy 1 indicator...
Versionsinformation:
added 2 HTF levels