This script trying to detect different lifecycle of stock / Stages.
There is mainly 4 stages of stocks.
1) stage 1 - Accumulation = color = aqua
2) stage 2 - Advancing = color = green
3) stage 3 - Distribution = color = yellow
4) stage 4 - Declining = color = red
At some point the condition i wrote wont detect any stage.
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Implemented Auto Draw Support & Resistance line using below logic
This is upgraded logic
This is how you can marking the chart.
Stage 1
➡️First day of stage 1 high. only confirm if after stage 1 there is again stage 4 or no stage for at least 2 days.
OR Stage 1 stays for 5 time frame (including no stage)
Stage 3
➡️First day of stage 3 low. only confirm if stage 3 stay more than 1 days. and before it stage 2.
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Improvements
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Added no of look back periods to use for auto draw support & resistance.
this will help full to load script much faster and also not generating too much lines on the chart.
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Removed complex condition to generate the stage 1 resistance line.
1) Added rs84 and rs72 to decide stage 1 2) Now using last 7 days high as resistance to avoid fluctuation for both stage 1 and stage 3 resistance. 3) changed from low to high for stage 3 resistance. 4) now only using one simple code to generate the stage 1 resistance line. -> minimum 1 day in stage 1 and stage 0 in last 5 days or stage 1 in 2 days in last 5 days
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Added one more condition for stage 3 resistance
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Added
Days gap between 2 same stage lines input, to avoid multiple lines draw very close to each other.
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improvements in stage 1 line draw code
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bug fix in lookback code
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Added one more condition to generate stage 1 data
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Added Stage 2 Resistance Line
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Added Stage 1 Proper Resistance Lines option
if someone who are not sure about the Stage 1 resistance line now they can disable that option and only enable the Stage 1 Proper Resistance Lines option.
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improvements in stage 1 proper resistance line code.
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Improvements in proper stage 1 resistance line.
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-> Changed stage 2 color opacity when rs above ema147 and ema168 to easily identified proper stage 2 uptrend.
-> Hide stage 1 resistance line default to generate less lines.
-> Added stage 2 proper resistance line when rs above ema147 and ema168
now one should only enter a trade if green background color opacity is less.
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-> Hide default stage 1 proper resistance line.
-> Changed condition to generate proper stage 2 resistance line.
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Changed resistance lines high from 7 days high to 15 days high.
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Changed default comparison symbol from NIFTY50 TO CNX500
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Bug fix in stage 2 proper resistance line code.
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Upgraded stage 3 resistance line code.
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Changed ema length from 126 to 189
now checking close / open above all three ema, vwma, vwma-high
some code clean.
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Changed 189 ema/vwma to sma 200, 150, 100
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Updated condition for stage 2
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Updated stage 2 condition
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changed default settings.
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bug fix in stage 1
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bug fix in stage 1
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Added chart timeframe using timeframe.period instead daily timeframe for comparison index / stock.
Thanking you always heartfully, congratulating you my dear brother, have a pleasant life
jadeja_rajdeep
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now one should only enter a trade if green background color opacity is less.
SarKar1055
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(a) Can you indicate 'entry and exit' criteria? (viz: whether go long when crossed "Stage 2 resistance line" and exit when crossed "stage 3 support line")? (b) Do you suggest weekly time frame would work well for this strategy or daily?
jadeja_rajdeep
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@SarKar1055, I build this script for daily time frame. You can book profit at stage 3 line. But stock may start stage 2 again if it's crossed that stage 3 line.
Always look for most recent lines and previous lines as support where stock stop.
Sometimes you can also take entry at big support line.
I hope this clears your questions
jadeja_rajdeep
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This is upgraded logic
This is how you can marking the chart.
Stage 1
➡️First day of stage 1 high. only confirm if after stage 1 there is again stage 4 or no stage for at least 2 days.
OR Stage 1 stays for 5 time frame (including no stage)
Stage 3
➡️First day of stage 3 low. only confirm if stage 3 stay more than 1 days. and before it stage 2.
jadeja_rajdeep
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this is how you can marking the chart.
1) in stage 1
-> first day of stage 1 high. only confirm if after stage 1 there is again stage 4 or no stage for at least 2 days OR after 1 day of stage 4/no stage and again stage 1.
-> first day of stage 3 low. only confirm if stage 3 stay more than 1 days. and before it stage 2.