Fishing with Signals

Fishing with Signals


Fishing with Signals comprises of 3 indicators
1) Buy / Sell Signals
2) Band for Trend Recognition
3) ADX-DI Trend Identifier

Indicator 1 == Buy / Sell Signals
The signals are based on moving average exponential rectified by the previous high and low break at any real-time, it recognises the previous specified moving average deviation. If the predefined high and lows are broken along with current candle is closed below the specific moving average then sell is given and vice-versa for buy. The settings are not editable.

Indicator 2 == Band for Trend Recognition
The band comprises of 200 moving average with exponentially smoothening feature, there are three lines one can identify the trend if candles are below or above the band

Indicator 3 == ADX-DI Trend Identifier
The indicator gives a multiplication of ADX and the DI+ and DI-values, colour coded for bullish or bearish momentum and shows general market direction and divergence in a simpler visual way than the normal ADX-DI lines, a threshold value cannot be edited. The indicator is plotted relative to the 200 ema and can be seen as a "buffer" against price reversal. The ADX is used to indicate market direction, the existence or nonexistence of a trend and market momentum. Market direction is determined by the levels of the +DI and -DI. The ADX indicator, which varies in value from zero to 100, is the primary momentum indicator, default value is kept at +40 and -40. If the ADX is lowering or rising the DI line plotted will be moving as directed with change in colour and background filling. The Line hovering below and above the "buffer" is changing the colour with rising as navy and falling as maroon with intermittent colour of red and lime which also shows reversal.

HOW TO use the indicator?
For SHORT==If the candles are below the Band for Trend Recognition and ADX-DI Trend Identifier is lowering and if the SELL SIGNAL comes one can go short with stop-loss be the close above top band and with momentum be positive.
For LONG == If the candles are above the Band for Trend Recognition and ADX-DI Trend Identifier is growing and if the BUY SIGNAL comes one can go Long with stop-loss be the close below lower band and with momentum be negative.

CAUTION!!: There will be false buy / sell signals also, where user have to verify with the other two indicators, for confirmation.

TARGET in any call = If the trend is up and buy signal comes then target may be trailed till next signal or close below band and vice versa for sell side.

USER OPTIONS: Choice of turning on / off the three indicators.

VISUAL CHECKS - The user could manually validate the back test results on various assets they would like to use this strategy on before putting it live.

USAGE MARKETS: Index Trading / Equities and also well with Commodities and Currencies.

TIME FRAME: Timeframe maybe any and as the user likes, still it works well with 5 min for less signals.

SETTING THE ALERTS: - Buy and Sell Signal alerts are advisable.

Please click on the link / email available in the signature or send me a private message to get access.

Please click on the link/email in the signature or send me a private message for suggestions/feedbacks.

Utmost Care is taken to implement the suggestions of users and also tried to keep the chart neat and clean.

  • Drop a mail to or Drop a personal message for access.
    Questions, Help, Discussion -> Telegram: Telegram: @miteysh
Greetings !!!!

What's in Update === >

The Signal Indicator is not more accurate giving less signals with accuracy increased.
What is updated?

The Buy Sell Signal Indicator is updated with lesser noise and with greater accuracy.
Greetings !!
Details of Update..!!!
The Fishing with Signals Indicator is upgraded with Floor Pivot Points and having an option to enable and disable
Classic Pivot Points, Previous Day High & Low, Previous Close.

How does it work?
It works on the principal of Floor Pivot Points (generally code-named Central Pivot Range), formulated from
Secrets of a Pivot Boss by Franklin O. Ochoa, Here the Pivot Points and every other lines will be plotted for the whole
day from the beginning of the Day to the End of the Day, with function of labels, showing the values of plotted lines.

This will help the user to find the probable trend of Market and to know where the classic resistance and classic support are
for a better profitable trade.

The script is coded with repainting feature as required to plot the values in label so user might get a warning.
Greetings !!!!

What is updated ?

Updated with latest features of PineScript's input parameters, included tooltip for better understanding the settings,
included, grouping the sections as required.

What is removed ?
Trend Strength Indentifier is removed, as it was confusing the chart.

More updates - Like On-Board Screener for Selected Stocks for Nifty 50 is coming onway !!!

Do consult with your financial advisor before taking into consideration signals from this indicator.
What is Updated ?

* The Plotting of whole day lines is updated.
* Third Resistance & Support are now made optional to enable.
* Some smoothness in label color.
Greetings to users !!!!

What is updated?

1) Buy / Sell Signals is now updated with more accurate results, along with colour changing Buy and Sell targets, meaning if user
is on buy side then target shall be achieved when colour or candle(s) / bar becomes white, and for sell side the colour of candle(s)
will become black.
2) Band for Trend Recognition is now updated having more accurate color filling, there are two colours filled inside band - pink and green, if the green if filled in upper portion of band then we may observe uptrend and if pink is seen in upper portion we may observe down trend...for consolidation area / zone the colour of band will change frequently, this will help user to exit the trade in profits.

N.B.: - The Author of this indicator is not responsible for the profits or losses, user must concern their advisor before diving into the trade.
Greetings !!!

What is Updated?
The Pivot Points are now updated with option to choose from multiple Pivot Points=- Traditional, Fibonacci, Classic, DeMark, Camarilla & Swings,
and now user can plot user defined number of max. 5, Support & Resistance & there is a option to change the colour of Labels, Lines & Price Labels.
Greetings from GrowMore Indicators !
Fishing with Signals is now updated to v0.7.
Update requirement after recent Pine changes applied on built-in functions (such as round() function)

What is updated ?
Below indicator is added.
4) "Modified Murrey Trading Strategy Lines by GrowMore Indicators " is added by GrowMore Indicators
Works good in 3,5, 10, 15, 30, 1hr, 75 min timeframe.
The core element of the Murrey trading is that the price movement of any market will retrace in multiples of 1/8, 2/8 all the way up to 8/8. Since prices move in 1/8’s. Murrey math divides prices into 1/8 intervals.
· – Imminent Bearish reversal
· – Extreme Overshoot conditions, can reverse anytime
· – Overshoot conditions
· – Ultimate resistance, extremely overbought conditions
· – Weak level, place to stop and reverse
· – Strong pivot reverse
· – Top of trading range
· – Major support/resistance pivotal point
· – Bottom of trading range
· – Strong, Pivot, reverse
· – Weak, place to stop and reverse
· – Hardest line to fall below, oversold conditions
· – Oversold conditions
· – Extreme oversold conditions, can reverse anytime
· – Imminent bullish reversal

Modified Murrey Math Trading Lines Strategy (Rules for A Buy Trade)
Step #1: Check the Time Frame and Make Sure We’re Trading Below the 4/8 Murrey Lines
The first buying condition of the Modified Murrey trading strategy that needs to be verified is that the price needs to trade below the 4/8 Murrey Lines.
Step #2: See that it Also Needs to Trade Below the 2/8 Murrey Lines. The main reason why we also need the price to dip below the 2/8 Murrey Lines is that we need the price structure to create space between the Murrey lines.
Step #3: Enter a Long Trade Once we Reverse and Break above the 4/8 Murrey Lines.
Step #4: Place Your Protective Stop Loss Below the 0/8 Murrey Lines
The 0/8 Murrey lines are the hardest pivot for the price to fall below which is the reason why it’s the ideal place to hide our protective stop loss order.
Step #5: Take Partial Profits (Preferably 50% off Your Entire Order) at 6/8 Murrey Lines and Also Move the StopLoss to Buy Entry
Step #6: Take Final Profit at 8/8 Murrey Lines
It’s important to mention that if the market is breaking the 4/8 pivotal point multiple times on both sides, it’s best to wait until you can clearly apply Murrey trading setup by applying the Step #1 through Step #3.
Note** The above was an example of a buy trade using the Modified Murrey Math Trading Lines Strategy. Use the same rules – but in reverse – for a sell trade.
Conclusion:: The Murrey Math Trading Lines Strategy is the ultimate support and resistance system because unlike the simple support and resistance levels the Murrey lines are mathematically driven and possess a greater influence on how the price reacts to each of these levels.
N.B.- The above strategy is Modified version of Murrey Math Lines, the author learnt the strategy and modified as per his requirements to the most profitable in current market. The Lines shown in this indicator might change its place during market hours because of mismatch timeframe of chart and indicator, user must match timeframe of chart and indicator to both same.
What is Updated ?
1) Buy Sell Signals is now Trend Signals having three triangles on up and down.
3) CPR - Central Pivot Range is added, along with Previous Day High, Low, Close lines.
How to use CPR ? -Any breakout above or below the TC and BC lines respectively indicates a high probability that the movement will continue. And if the breakout candle has higher volume than the preceding candles, than it gives an extra confirmation.
## CPR Width
The width of the CPR lines gives an idea of the expected price movement. If CPR width is narrow, that is the distance between TC and BC lines of CPR is very low, then it indicates a trending market. While if the distance between TC and BC lines is relatively higher it indicates sideways market.
## CPR as Support and Resistance
CPR lines can also act as support and resistance. When used carefully, it can help decide stop loss level. Any of the 3 CPR lines can be used for this purpose. It’s recommended to use it in a 5-minute chart for high beta stocks or indices. If the CPR width is very narrow you can even look at the previous day’s CPR levels as a stop loss.

5) Math Murrey Lines are now having option to hide, keeping only values visible, this keeps chart clean.
NB:: Proper position sizing and risk management to be done cautiously.
What is Updated ?

# Changes in input sections, making is easier to use.

1) Trend Signals are now smoothed with an option to show more / less signals.
2) Trend band is now smoothed for acting as accurate dynamic support and resistance, target bars is removed.
6) Double Top & Bottom detector is added, which will detect double tops and bottoms, that are
formed, with 4 types of sensitivities in it, comprising from 5, 10, 15 & 20, 5 meaning nearest and 20 meaning farthest most back bars forming double
top or bottom with a condition of closing of the bar / candle.
What is updated ?

# Updated to Pine Version 5.
# Minor Input tweaks.
What is updated ?

In Version 1.2, below is added ##

# The Fine Version for Double Top & Bottom is updated, along-with the breakout lines.
What is Updated ?

In version 1.3 -

# Head & Shoulders Chart Pattern is added.
# Higher Time frame Highs - Lows is added.
# Input Tweaks.
What is Updated ?
# Double Top / Bottom was giving unexpected error, removed till next update.
What is updated ?

In this version v1.4 of Fishing with Signals, below is updated =
# The Data table is added for getting the Calls / Puts at real-time with alerts to the NLB.
# During market hours the alert will work.
# The Math Murrey Strategy is fine-tuned.
# Minor cosmetic updates.

For Questions, Discussions, Access :: Drop a Text/WhatsApp message to = +917016549487, e-mail to or Telegram:
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