NKP Trend Finder
NKP Trend Finder is an indicator. It will plot buy / sell signal in live market based on custom calculated information about entry points at close of the candle. Buy/ Sell signal is the best entry point but you can enter at the next candle.
we can see signals like buy/sell/ - 5 min candle (Intraday trading)
if the price move above the trend line and buy signal came then go for long if sell signal came below the trend line the go for short.
How does it work?
buy - take the buy order in next candle open's stop loss will be signal candle low
sell - take the sell order in next candle open's stop loss will be signal candle high
What are the signals?
Yes it will generate the buy/sell signals in the live market
these signal will plot up/down arrow based on signal.
Can we set the Alert on this?
Yes, we can set the alert based on the signals
Four custom alerts - NKP Buy , NKP Sell
IMPORTANT: this script does not generate exit signals and those should be find using money management rules or else. Perfectly catches long runs in trends at all underlings (stocks, indexes ) at 5 min time frame. Lower/High period gives more incorrect signals and shorter runs on below 5 min period , higher period gives you late entry and less. Of course it gives false signals from time to time but fortunately it makes a correction very fast.
Try it! Good luck and good trading!
we can see signals like buy/sell/ - 5 min candle (Intraday trading)
if the price move above the trend line and buy signal came then go for long if sell signal came below the trend line the go for short.
How does it work?
buy - take the buy order in next candle open's stop loss will be signal candle low
sell - take the sell order in next candle open's stop loss will be signal candle high
What are the signals?
Yes it will generate the buy/sell signals in the live market
these signal will plot up/down arrow based on signal.
Can we set the Alert on this?
Yes, we can set the alert based on the signals
Four custom alerts - NKP Buy , NKP Sell
IMPORTANT: this script does not generate exit signals and those should be find using money management rules or else. Perfectly catches long runs in trends at all underlings (stocks, indexes ) at 5 min time frame. Lower/High period gives more incorrect signals and shorter runs on below 5 min period , higher period gives you late entry and less. Of course it gives false signals from time to time but fortunately it makes a correction very fast.
Try it! Good luck and good trading!
Versionsinformation:
signal labels added
Versionsinformation:
alert condition changed
Versionsinformation:
alert text corrected
Versionsinformation:
trend line logic changed to get good accuacy.
Versionsinformation:
arrow corrected
Versionsinformation:
Entire logic changed to get the good accuracy. it will work only on commodities and currency trading.