Hawkeye Roadkill
Wait for the Roadkill signal – then dive for the perfect kill!
Hawkeye Roadkill looks at multiple timeframes simultaneously, and then provides two entry signals, one based on the trend and the other on volume.
One of the biggest problems traders face is that whenever they see a signal or set up in one timeframe, they immediately look at a lower or higher timeframe chart to validate the signal for the confidence to enter the trade. This is a classic problem, and one that can be seen on virtually every trader’s screen, which can be cluttered with several charts, all with different timeframes and all giving different signals to the confused trader. Ultimately, the trader loses both money and confidence, and is no longer able to trade.
For example, if you are looking at a daily chart, does the weekly chart also suggest that your trade is valid? Or, if you are looking at a 15 minute timeframe, does the one-hour chart confirm your analysis? Often the two charts will differ in their signals, since a trend that has begun in one timeframe, may already be ending in another.
So you have two clear signals to get you into the market in your preferred timeframe.
Hawkeye Roadkill looks at multiple timeframes simultaneously, and then provides two entry signals, one based on the trend and the other on volume.
One of the biggest problems traders face is that whenever they see a signal or set up in one timeframe, they immediately look at a lower or higher timeframe chart to validate the signal for the confidence to enter the trade. This is a classic problem, and one that can be seen on virtually every trader’s screen, which can be cluttered with several charts, all with different timeframes and all giving different signals to the confused trader. Ultimately, the trader loses both money and confidence, and is no longer able to trade.
For example, if you are looking at a daily chart, does the weekly chart also suggest that your trade is valid? Or, if you are looking at a 15 minute timeframe, does the one-hour chart confirm your analysis? Often the two charts will differ in their signals, since a trend that has begun in one timeframe, may already be ending in another.
So you have two clear signals to get you into the market in your preferred timeframe.
Versionsinformation:
Bug fix to Trend Roadkill. Minor changes to dot sizes.
Versionsinformation:
v17.1d - 26 March 2018 - Added 4 x Roadkill alerts
Versionsinformation:
Hawkeye Roadkill v17.1e - Change to 'resolution' input to allow a wider range of second timeframes.
Versionsinformation:
v19.1a - 23 January 2019 - Fix to higher timeframe calculations. Changed display to support fixes. End of bar calculations and alerts.
Versionsinformation:
Updated to PineScript v5
Randy Lindsey
Hawkeye Traders, LLC
Hawkeye Traders, LLC