Just sharing a script that I made when I began to be interested in Mark Minervini, Wiliam O'Neil, Nicolas Darvas,.. trading style.
This script displays : - 10 EMA (orange) - 20 EMA (blue light) - 50 SMA (blue) -150 SMA (green) -200 SMA (red) - Shows when the stock is "extended" from EMA10 to high of the candle (Works in Daily, you can adjust the % to make it match with the stock's volatility) (Shows a red area between price and 10 EMA) - Shows when Mark Minervini's trend template is respected by highlighting green between 150 & 200 SMA.
I Although added bollinger bands and 5 EMA for very strong stocks. (I never use them)
Have fun
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Removed useless comments
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Removed useless comments
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- Removed indicators that were polluting the visual overview
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- Added the possibility to display 3 Week Tight Closes to see potential accumulation (too confirm with low volume) and trade setup within STAGE 2 Market
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- Modified the code to only make the extended color in Daily Graph - Improved a little bit the Weekly Tight Closes Detector
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'- Remove 'Trade'' by 'Trend' in the commentary
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- Now possible to display inside bars on every time frame
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- Changes Graph Exemple - Added the possibility to modify inside day color line - Added a bigger size to double inside days
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- Modified Tight Closes so that they are : -> Auto-adaptable on every chart -> Now very close to what we can see in Wiliam O'Neil's Book -> Subtly indicated by soft boxes -> Color can be modified in the parameters box Honestly... I pulled myself up by my bootstraps, I'm really proud of the result ! Haha
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- Corrected a bug that appears in Da Graph due to Tight Closes Display
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- Extended Price are now auto-adaptive
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- Changed the green lines by boxes using box.new() - Coloured inside the lines of the inside days - Added some comments and reorganised the code a little
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Re-organised position and feature's names
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- Added comment in english regarde the 52We part (It was in French before) - Added the Mark Minervini Trend Template in comments from "Trade Like a Stock Market Wizard"
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- Now Inside Days and Tight Closes are thinner - Removed the bolinger bands - Added the 10 SMA in red, now possible to display it - Adjusted the box arround Weekly Tight Closes
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- Arranged Inputs - Now Extended Daily displays only in Daily TF - Now Weekly Tight Closes displays only in We - Now possible to change color of the area when trend template criteria are met
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- The trend template is now displayed in Daily only
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- Went from Pine Script v4 to v5 - Added optional Peak/Valley points
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- You can now display % variation of Peak/Valley points
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- You can now adjust color of the SMA/EMA - Optimized the code a little bit
Thats an awesome script, congratulations, well done! I also trade according Mark Minervinis strategy. One thing came into my mind which might be worth adding. Currently the script shows a 1 month uptrend with the green shaded area. It would be cool if the script would distiguish between a 1 month uptrend and a confirmed 5 month uptrend. Like from 1 to <5 month the area is orange and from > 5 month the area turns green. So we could better distinguish the eary turns.
Thanks Joerg
Fred6724
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@JoeHier, Hi Joe! Thank you for your positive feedback :) I won't change it because that is how I use it but you can easily change it I think. :)
JoeHier
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@Fred6724 Hi Fred, okay cool, I will try to modify it. Thanks
Fred6724
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@JoeHier, I modfied it. You can reload your page and use the last version, you will be able to change color and transparency :) Have fun!
@ptcll96108, Hi, many thanks for your comment. I found that out by myself just recently. But very kind of you to let me know :-)
mohibhotak
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Hi Fred,
Is It possible to change the trendlines to EMA instead? Lets say I want to change it instead to EMA 5 EMA 7 EMA 50 EMA 150 EMA 200
Isn´t EMA a better choice for traders than SMA since EMA is more reactive to price change than SMA? Thank you for awesome work.
Fred6724
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@mohibhotak, Hello there, thank you for your comment! :)
Of course you can, just replace this block in the code line 27 to 36 // SMA/EMA Calculation ema5 = ema(close,5) ema10 = ema(close,5) sma10 = sma(close,10) ema102 = ema(close,10) ema20 = ema(close,7) sma50 = ema(close,50) sma150 = ema(close,150) sma1502 = ema(close,150) sma200 = ema(close,200)
Personally, I find the moving averages and exponentials I have more relevant. I invite you to add the indicator and keep both options and look by scrolling through the charts at what looks best for you
mohibhotak
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@Fred6724, @Fred6724, Hi Fred, Thank you for taking time to write back. I am sorry for being so amateur. I tried to change the "sma" to just "ema" but I am getting error: cannot compile script. changed all sma --> ema but still not working.
Thats an awesome script, congratulations, well done! I also trade according Mark Minervinis strategy. One thing came into my mind which might be worth adding. Currently the script shows a 1 month uptrend with the green shaded area. It would be cool if the script would distiguish between a 1 month uptrend and a confirmed 5 month uptrend. Like from 1 to <5 month the area is orange and from > 5 month the area turns green. So we could better distinguish the eary turns.
Thanks
Joerg