PROTECTED SOURCE SCRIPT
PriceCatch-Signals - Buy Signal
Updated
Hi,
TradingView Community.
Here is a script that identifies and marks two different buy levels on the chart. It works on all asset classes - equities, forex, crypto.
The bottom images are self-explanatory.
PROBABLE BREAKOUT BUY LEVEL EXAMPLE:
STOP-REVERSE BUY LEVEL EXAMPLE:
IDENTIFICATION OF LEVELS:
The Blue Dotted line represents Probable Breakout Buy Level and the Blue Dashed Line Stop-Reverse Buy Level. The corresponding Red Dotted line below each level should be your initial stop loss price point.
PLAYING SAFE
After taking the trade, to play safe, I follow this method that once the Low of the price goes above the Buy Level, I usually shift the stop loss to buy price to protect against any sudden reversal. For me protecting capital is important. As usual with price action, longer time-frames produce more reliable signals.
NOTE - PRIOR TO USING THIS SCRIPT:
The script uses Heikin-Ashi Candles data to identify the levels. You may use this script in addition to your other indicators or in isolation. Please remember that the script is shared with absolutely no assurances and warranties whatsoever and as a responsible trader, please satisfy yourselves thoroughly and use it only if you are satisfied it works for you. Remember, you are 100% responsible for your actions. If you understand and accept that, you may use the script. The script does not identify any short signals.
ADDITIONAL NOTE:
I shall also be releasing Screener scripts that scan the following markets for the above two conditions or signals thereby helping traders spot opportunities at the right time by making the task of finding right stocks a breeze.
SOME MORE CHARTS:
QUERIES/FEEDBACK
Please PM me.
Regards to all and wish everyone all the best with trading.
TradingView Community.
Here is a script that identifies and marks two different buy levels on the chart. It works on all asset classes - equities, forex, crypto.
- Probable Breakout Buy Level
- Stop-Reverse Buy Level
The bottom images are self-explanatory.
PROBABLE BREAKOUT BUY LEVEL EXAMPLE:
STOP-REVERSE BUY LEVEL EXAMPLE:
IDENTIFICATION OF LEVELS:
The Blue Dotted line represents Probable Breakout Buy Level and the Blue Dashed Line Stop-Reverse Buy Level. The corresponding Red Dotted line below each level should be your initial stop loss price point.
PLAYING SAFE
After taking the trade, to play safe, I follow this method that once the Low of the price goes above the Buy Level, I usually shift the stop loss to buy price to protect against any sudden reversal. For me protecting capital is important. As usual with price action, longer time-frames produce more reliable signals.
NOTE - PRIOR TO USING THIS SCRIPT:
The script uses Heikin-Ashi Candles data to identify the levels. You may use this script in addition to your other indicators or in isolation. Please remember that the script is shared with absolutely no assurances and warranties whatsoever and as a responsible trader, please satisfy yourselves thoroughly and use it only if you are satisfied it works for you. Remember, you are 100% responsible for your actions. If you understand and accept that, you may use the script. The script does not identify any short signals.
ADDITIONAL NOTE:
I shall also be releasing Screener scripts that scan the following markets for the above two conditions or signals thereby helping traders spot opportunities at the right time by making the task of finding right stocks a breeze.
- NASDAQ Stocks Screener (Can screen a total number of 160 stocks. 40 stocks at a time)
- UK LSE Stocks Screener (Can screen a total number of 90 stocks. 30 stocks at a time)
- Euronext Paris Stocks Screener (Can screen a total number of 50 stocks. 25 stocks at a time) - in development.
- Singapore Stocks Screener is in development
- Other International exchanges will be added based on response from users.
SOME MORE CHARTS:
QUERIES/FEEDBACK
Please PM me.
Regards to all and wish everyone all the best with trading.
Release Notes
This is outdated and redundant version. Pointing users to the latest version.Release Notes
Sentence modified.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.