hi VIJAY
here it is
test it minimum 30 times to confirm the rules work for you.
tHE KEY IS TRADE WITH MAIN TREND-LOW GMMA GROUP,AND TRADE WITH INTERMEDIATE TREND-EMA20-30 RIBBON IN COLOR and finally take a long trade on 4 hour tf after hma5 goes below hma12 and rises above hma12-called a V-hook.No trades to be entered aftr hma12 turns sloping down. Trend confirmation comes from LONG MACD(30,60,30) TO BE kept in lower chart.when macd crosses above signal line-long zone begins. Dont forget lifeline of trading-your stoploss line-draw it at a point where ema20-ema30 ribbon crosses gmma slow group highest point and measure RISK from there to LONG entry candle and project an equal target from ENTRY. Just aim for 1:1 RR.Remember be fast to move stop to breakeven once price moves above it .
here it is
test it minimum 30 times to confirm the rules work for you.
tHE KEY IS TRADE WITH MAIN TREND-LOW GMMA GROUP,AND TRADE WITH INTERMEDIATE TREND-EMA20-30 RIBBON IN COLOR and finally take a long trade on 4 hour tf after hma5 goes below hma12 and rises above hma12-called a V-hook.No trades to be entered aftr hma12 turns sloping down. Trend confirmation comes from LONG MACD(30,60,30) TO BE kept in lower chart.when macd crosses above signal line-long zone begins. Dont forget lifeline of trading-your stoploss line-draw it at a point where ema20-ema30 ribbon crosses gmma slow group highest point and measure RISK from there to LONG entry candle and project an equal target from ENTRY. Just aim for 1:1 RR.Remember be fast to move stop to breakeven once price moves above it .
HTML:
//http://www.wisestocktrader.com/indicators/3838-trendtradingbp-4hourly
//trendtrading bp h4 timeframe
//coder:courtesy:RameshVelidi, email:[email protected]
//gmma BASED simple Code USES HULL MOVING AVERAGE 5 AND 12
//AIMS SHORT QUICK TRADES on H4
grid_day = IIf(Day()!=Ref(Day(),-1),1,0);
Plot(grid_day,"",colorOrange,styleHistogram|styleDashed|styleNoLabel|styleOwnScale);
//==========================
SetChartBkColor(64);
SetChartOptions(0, chartShowArrows | chartShowDates);
Plot(C,"close",IIf(Close > Open,colorWhite,colorRed),styleCandle);
FastMAColor = ParamColor("Fast Group MA Color", colorGreen);
SlowMAColor = ParamColor("Slow Group MA Color", colorRed);
EMA20=EMA(C,20); EMA30 =EMA(C,30);
Plot(EMA(C, 20), "", colorCustom12, styleThick);
Plot(EMA(C, 30), " ", colorYellow, styleThick);
Plot(EMA(C, 35), " ", SlowMAColor, styleLine);
Plot(EMA(C, 40), " ", SlowMAColor, styleLine);
Plot(EMA(C, 45), " ", SlowMAColor, styleLine);
Plot(EMA(C, 50), " ", SlowMAColor, styleLine);
Plot(EMA(C, 60), " ", SlowMAColor, styleLine);
//==============================================
//HMA5 HULL MOVING AVERAGE
array = Close;
period= 5;
function HMA_AFL( array, period )
{
fast = WMA( array, period / 2 );
slow = WMA( array, period );
return WMA( 2 * fast - slow, sqrt( period ) );
}
Plot(HMA(Close,5),"HMA(C,5)",colorBrightGreen,styleThick);
_SECTION_END();
//=============================================================
HMA12 = HMA(C,12);
E2030COLOR = IIf(EMA20>EMA30,colorDarkGreen,colorDarkRed);
PlotOHLC(EMA20,EMA20,EMA30,EMA30," ",E2030COLOR,styleCloud);
//HMA12 HULL MOVING AVERAGE
array = Close;
period1= 12;
{
fast = WMA( array, period1 / 2 );
slow = WMA( array, period1 );
HMA12 = WMA( 2 * fast - slow, sqrt( period1 ) );
}
Plot(HMA(Close,12),"HMA(C,12)",colorRed,styleThick);
_SECTION_END();
_SECTION_BEGIN("HMA HULL MOVING AVERAGE1");
//note you can use HMA5 & HMA21 also if it suits you.Thanks for sharing.
Out of many Rainbow AFL's , I liked this one quite very much.
I visually tested the entry signals at support and resistance levels. The signals seem to be quite fast.
Will test it in Live market .
