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NN Trading System
Updated
This indicator is an attempt to be all-in-one solution that follows the structure of NNFX Youtube channel. The components may vary from trader to trader. This is my compilation. If you have any ideas to make it better, let me know.
Brief Info about the structure:
The trader chooses best indicators for the positions described below; enters and exits positions strictly based on the consensus of the indicators. Here are components:
1. Baseline (trend line): I usually use "Regression Line" indicator that can be found in the public library. If the price is above the baseline, look for longs; if the price is below the baseline, look for shorts. This part cannot be included in this indicator since it needs the indicator to be an overlay indicator. So choose and couple with your own.
2. Entry Signal: This is the main indicator that signals opening positions. I tested lots of indicators and finally chose LazyBear's MACD Leader Indicator. This is the modified version of it. When the signal line crosses over the zero line, it's a long signal. When the signal line crosses under the zero line, it's a short signal. You may also use the peaks of the hills it creates as a signal if you think it performs better. It's up to you. I have added dots for the possible peaks using "alma" cross algorithm.
3. Confirmation Signal #1: To open a position both the confirmation signals need to give a green signal. otherwise you are not allowed to open the position. Chosen indicator for this job is ATR. Set your minimum ATR value on the settings box and if the current ATR on the current timeframe is below the ATR value, a gray line will be drawn over the entry signal line and you should not take the trade. If you are already have a position, this doesn't mean that you should close the position though. It just informs you that momentum is low. YOU NEED TO ADJUST THIS ATR LIMIT FOR EVERY ASSET AND TIMEFRAME YOU TRADE. For BTC 1min, my example limit value is 8. Find your best value.
4. Confirmation Signal #2: I have chosen Aroon indicator for trend confirmations. If the background of the indicator is green, it's suitable for longs, if it's red, it's suitable for shorts. If the color is brighter, that means the signal is stronger. Aroon is a very powerful indicator but you need to find the best settings for the timeframe you are using.
5. Exit Signal: This one is the hardest role to find an indicator for. The one i ended up choosing is "Relative Vigor Index". It doesn't give good entry signals but with the right settings, it works as an exit signal in my experience. This signal is drawn as a green and red boxes and the top and the bottom of the indicator area. If it changes color while you have a position, it's time to close the position. Find the right settings for it so that every time it signals reversal, you obey the rule and close the position.
To summarise, the components are:
* ATR
* MACDL
* ALMA CROSSOVER
* AROON
* RVGI
plus
* a trend line indicator of your choice added seperately to your chart.
My recommendation is to turn all the indicators off on the settings box and enable on by one finding the best values individually. If you found the best settings for an asset and timeframe, please share in the comments for others.
You may leave a comment for bug reports, feedback and suggestions.
Hope it works for you.
Cheers.
Brief Info about the structure:
The trader chooses best indicators for the positions described below; enters and exits positions strictly based on the consensus of the indicators. Here are components:
1. Baseline (trend line): I usually use "Regression Line" indicator that can be found in the public library. If the price is above the baseline, look for longs; if the price is below the baseline, look for shorts. This part cannot be included in this indicator since it needs the indicator to be an overlay indicator. So choose and couple with your own.
2. Entry Signal: This is the main indicator that signals opening positions. I tested lots of indicators and finally chose LazyBear's MACD Leader Indicator. This is the modified version of it. When the signal line crosses over the zero line, it's a long signal. When the signal line crosses under the zero line, it's a short signal. You may also use the peaks of the hills it creates as a signal if you think it performs better. It's up to you. I have added dots for the possible peaks using "alma" cross algorithm.
3. Confirmation Signal #1: To open a position both the confirmation signals need to give a green signal. otherwise you are not allowed to open the position. Chosen indicator for this job is ATR. Set your minimum ATR value on the settings box and if the current ATR on the current timeframe is below the ATR value, a gray line will be drawn over the entry signal line and you should not take the trade. If you are already have a position, this doesn't mean that you should close the position though. It just informs you that momentum is low. YOU NEED TO ADJUST THIS ATR LIMIT FOR EVERY ASSET AND TIMEFRAME YOU TRADE. For BTC 1min, my example limit value is 8. Find your best value.
4. Confirmation Signal #2: I have chosen Aroon indicator for trend confirmations. If the background of the indicator is green, it's suitable for longs, if it's red, it's suitable for shorts. If the color is brighter, that means the signal is stronger. Aroon is a very powerful indicator but you need to find the best settings for the timeframe you are using.
5. Exit Signal: This one is the hardest role to find an indicator for. The one i ended up choosing is "Relative Vigor Index". It doesn't give good entry signals but with the right settings, it works as an exit signal in my experience. This signal is drawn as a green and red boxes and the top and the bottom of the indicator area. If it changes color while you have a position, it's time to close the position. Find the right settings for it so that every time it signals reversal, you obey the rule and close the position.
To summarise, the components are:
* ATR
* MACDL
* ALMA CROSSOVER
* AROON
* RVGI
plus
* a trend line indicator of your choice added seperately to your chart.
My recommendation is to turn all the indicators off on the settings box and enable on by one finding the best values individually. If you found the best settings for an asset and timeframe, please share in the comments for others.
You may leave a comment for bug reports, feedback and suggestions.
Hope it works for you.
Cheers.
Release Notes
* Added my custom relative Accum/Dist Money Flow as a third confirmation indicator. You may turn it off via settings.* Fixed some bugs
This is a repost of the same indicator. It was deleted by TradingView due to not having enough information in the description.
Release Notes
* Fixed faded out ATR area
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.