INVITE-ONLY SCRIPT
PrettyGoodIndicator by Clefsphere
9/12/2018 Amazon current stop is at 1487.
PrettyGoodIndicator. A strategy which seeks a favorable entry point and then holds through normal volatility to let profits run. Green background is when the signal is bullish. Script is written to show back-test results. Dates of back-test period can be adjusted. Strategy is for Long trades only.
Features:
* Features a Moving Stop which is based on volatility. A multiplier is used and can be adjusted for more or less volatility. Of course the dilemma of stops is that adjusting to tighter stop may result in more stop outs, less profits. Whereas, looser stop may result in larger losses, larger profits. This Moving Stop usually adjusts Up but possibly might move Down depending on a new signal(s) after the original signal. This flexible moving stop usually gives the stock extra room to fluctuate because of the signal triggering again within the trade.
* When subsequent signal triggers occur during trade, Moving Stop will adjust accordingly, possibly downward, to allow for the new signal.
* When each profit target is reached, profit target (in green) moves up and Moving Stop (orange) moves Up.
* A Hard Stop (red line) is also used as a fail safe. It moves to break-even when certain profitably is reached. Once Hard Stop moves to break-even it will not move down.
* The gray volatility bands that plot between trades are where Hard stop and profit target will be set when signal happens. This indicator allows for large drawdowns even though it uses stops, so allocate more or less funds according to the loss that would occur if lower volatility bands/stop reached.
* Review the back-test results in the chart and let me know if you want to check it out for a trial run.
Coded with latest PineScript version 3. For more information and to request for use, go to: marketcast.wordpress.com
Thanks for your interest and support!
Disclaimer: This information is not trading advice and is for educational purposes only. Trade at your own risk. Past performance is not a guarantee of future results.
PrettyGoodIndicator. A strategy which seeks a favorable entry point and then holds through normal volatility to let profits run. Green background is when the signal is bullish. Script is written to show back-test results. Dates of back-test period can be adjusted. Strategy is for Long trades only.
Features:
* Features a Moving Stop which is based on volatility. A multiplier is used and can be adjusted for more or less volatility. Of course the dilemma of stops is that adjusting to tighter stop may result in more stop outs, less profits. Whereas, looser stop may result in larger losses, larger profits. This Moving Stop usually adjusts Up but possibly might move Down depending on a new signal(s) after the original signal. This flexible moving stop usually gives the stock extra room to fluctuate because of the signal triggering again within the trade.
* When subsequent signal triggers occur during trade, Moving Stop will adjust accordingly, possibly downward, to allow for the new signal.
* When each profit target is reached, profit target (in green) moves up and Moving Stop (orange) moves Up.
* A Hard Stop (red line) is also used as a fail safe. It moves to break-even when certain profitably is reached. Once Hard Stop moves to break-even it will not move down.
* The gray volatility bands that plot between trades are where Hard stop and profit target will be set when signal happens. This indicator allows for large drawdowns even though it uses stops, so allocate more or less funds according to the loss that would occur if lower volatility bands/stop reached.
* Review the back-test results in the chart and let me know if you want to check it out for a trial run.
Coded with latest PineScript version 3. For more information and to request for use, go to: marketcast.wordpress.com
Thanks for your interest and support!
Disclaimer: This information is not trading advice and is for educational purposes only. Trade at your own risk. Past performance is not a guarantee of future results.
僅限邀請腳本
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除非您完全信任其作者並了解腳本的工作原理，否則TradingView不建議您付費或使用腳本。您也可以在我們的社群腳本中找到免費的開源替代方案。
作者的說明
提醒：在請求訪問權限之前，請閱讀僅限邀請腳本指南。
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
僅限邀請腳本
只有經作者授權的使用者才能訪問此腳本，且通常需付費。您可以將此腳本加入收藏，但需先向作者申請並獲得許可後才能使用 — 點擊此處了解更多。如需更多詳情，請依照作者說明或直接聯繫marketcast_。
除非您完全信任其作者並了解腳本的工作原理，否則TradingView不建議您付費或使用腳本。您也可以在我們的社群腳本中找到免費的開源替代方案。
作者的說明
提醒：在請求訪問權限之前，請閱讀僅限邀請腳本指南。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。