TrendBand Naked

Same concept as Trendband Guide script, but now, we can choose any combination of moving average that suite with our own trading style.

Default setting :

Input (candle base on your timeframe)


Breakout Candle : 5 (highest)

Breakdown Candle : 10 (lowest)

Moving Average Line

EMA : default EMA, uncheck for MA

Fast Line : 10

Slow Line : 20

Direction : 50

Long Term : 200


Style

Breakout Line / Breakdown Line : Horizontal line base on breakout or breakdown setting above

Green Triangle : Potential pullback breakout

Red Triangle : Candle make new high but close lower (potential weakness)

Black Triangle : Candle make new low but close higher (potential strength)

Inside Candle : High and low current candle was smaller and within the high and low the previous candle

Background color : Red for positive / uptrend (fast line above slow line) and green for negative/downtrend (fast line below slow line)

Versionsinformation:

- Change "candel" to "candle"

- Update Breakdown Candle culculation

Versionsinformation:

Add :

Trailing stop line.

Update :

Wording change from "Breakout Day" to "Breakout Candle"

Versionsinformation:

Lates update for TRENDBAND NAKED.

Additional Input for
- Trailing Stop Line
- Break Weekly Low
- Pptrust
- Oversold Mode

Add Alert
- Breakout Candle
- Pullback Breakout
- Inside Bar
- New Low
- Oversold Signal

Remove
- Breakout and Breakout Line

Versionsinformation:

New Update

- update from pine script VER 3 to VER 4

- add LABEL with TRADING IDEA

- change user input option

- update STOP LOSS calculation

- upadate trendband ALERT

- new label for SPINNING TOP