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Dodge Trend [MyTradingCoder]

Introducing the "Dodge Trend" indicator, an innovative variant of the Supertrend indicator designed to help traders better avoid fakeouts and maintain positions in established trends.
Like the Supertrend, the Dodge Trend uses Average True Range (ATR) but incorporates a unique adaptive adjustment feature that differentiates it from its counterparts. While the conventional Supertrend rises with the trend and only descends when the price crosses it, the Dodge Trend is designed to 'dodge' potential fakeouts.
This 'dodging' mechanism works by allowing the Dodge Trend to fall slightly during pullbacks, reducing the risk of a premature exit due to a temporary price drop. The recovery rate after the pullback is quicker but is slightly lower than the rate at which a new Dodge Trend high would be established in an uptrend. This unique adjustment feature allows the Dodge Trend to chase price action in an exponential fashion, potentially enabling a quicker exit when the trend shifts.
Key Settings:
Experience trend-following in a more adaptive and efficient manner with the Dodge Trend indicator, a tool designed to help you 'dodge' false exits and stay in line with the overall trend.
Like the Supertrend, the Dodge Trend uses Average True Range (ATR) but incorporates a unique adaptive adjustment feature that differentiates it from its counterparts. While the conventional Supertrend rises with the trend and only descends when the price crosses it, the Dodge Trend is designed to 'dodge' potential fakeouts.
This 'dodging' mechanism works by allowing the Dodge Trend to fall slightly during pullbacks, reducing the risk of a premature exit due to a temporary price drop. The recovery rate after the pullback is quicker but is slightly lower than the rate at which a new Dodge Trend high would be established in an uptrend. This unique adjustment feature allows the Dodge Trend to chase price action in an exponential fashion, potentially enabling a quicker exit when the trend shifts.
Key Settings:
- Length: Adjust how much price action is taken into consideration for the ATR average. Lower values yield higher responsiveness to recent price action.
- Size: Determines the initial deviation of the Dodge Trend when it resets after every flip/break.
- Source: Specifies the data point (close, high, open, low, hl2, etc.) used for the Dodge Trend.
- Dodge Intensity: Adjusts the intensity of the pullback effect. Higher values result in more intense pullbacks. Range is limited between 0 and 99, with 95 as the recommended default.
- Bullish Color Setting: Sets the color for the uptrend Dodge Trend.
- Bearish Color Setting: Sets the color for the downtrend Dodge Trend.
Dodge Trend is a powerful tool for traders looking to ride trends and avoid unnecessary exits due to short-term price fluctuations. While it offers a unique feature that may potentially improve trading outcomes, it should be used in conjunction with other indicators and analysis methods for a comprehensive trading strategy. As with all tools, it does not guarantee profitable trades but aims to give traders more actionable and precise information to base their decisions on.
Experience trend-following in a more adaptive and efficient manner with the Dodge Trend indicator, a tool designed to help you 'dodge' false exits and stay in line with the overall trend.
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開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
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。