## CDC ActionZone V3 2020 ## This is an update to my earlier script, CDC ActionZone V2 The two scripts works slightly differently with V3 reacting slightly faster. The main update is focused around conforming the standard to Pine Script V4.
## How it works ## ActionZone is a very simple system, utilizing just two exponential moving averages. The 'Zones' in which different 'actions' should be taken is highlighted with different colors on the chart. Calculations for the zones are based on the relative position of price to the two EMA lines and the relationship between the two EMAs
CDCActionZone is your barebones basic, tried and true, trend following system that is very simple to follow and has also proven to be relatively safe.
## How to use ## The basic method for using ActionZone is to follow the green/red color. Buy when bar closes in green. Sell when bar closes in red. There is a small label to help with reading the buy and sell signal. Using it this way is safe but slow and is expected to have around 35-40% accuracy, while yielding around 2-3 profit factors. The system works best on larger time frames.
The more advanced method uses the zones to switch between different trading system and biases, or in conjunction with other indicators. example 1: Buy when blue and Bullish Divergence between price and RSI is visible, if not Buy on Green and vise-versa example 2: Set up a long-biased grid and trade long only when actionzone is in green, yellow or orange. change the bias to short when actionzone turns to te bearish side (red, blue, aqua) (Look at colors on a larger time frame)
## Note ## The price field is set to close by default. change to either HL2 or OHLC4 when using the system in intraday timeframes or on market that does not close (ie. Cryptocurrencies)
## Note2 ## The fixed timeframe mode is for looking at the current signal on a larger time frame ie. When looking at charts on 1h you can turn on fixed time frame on 1D to see the current 'zone' on the daily chart plotted on to the hourly chart. This is useful if you wanted to use the system's 'Zones' in conjunction with other types of signals like Stochastic RSI, for example.
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Added a few quality of life enhancements. - New signal ribbon so you no longer need to squint - New toggles - New alerts for Bullish and Bearish zones (will add alerts for all zones later)
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More quality of life improvements. - Text label are now turned off by default, you can turn it on in the settings menu - Buy and Sell Ribbon can be moved to the bottom / top and hidden - More alerts! for each different zones, plug this in to your bots as you like - Added momentum based analysis for addition buy and sell signals. Adjust the strictness of the additional signals in the settings. - the new signals are hard-coded, but that can be change to user inputs! just scroll down the code and comment/uncomment the lines under // Momentum signals //
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- Minor bug fix. Change syminfo.ticker to syminfo.tickerid to avoid calling the wrong chart
- Aesthetic fix - Turn signal Ribbon default to off by default to avoid confusion - Turn text box on by default by popular request. Users can still turn these features on and off in the settings.
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- Change Screenshot to better reflect the correct system - Added a few more comments
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- Fixed screenshot again.
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Added checks to avoid repainting when enabling fixed time frame option.
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Clean up some lines of code to make it easier to read (hopefully)
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Clean up some more code and fix the screenshot so it shows the system and not some other analyses.
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Converted to Pinescript V5 and eliminated repainting when using fixed timeframe mode.
I checked it on chart, but confused on yellow and red candle conditions.
Can you please explain on what condition the candle will be yellow? and what condition to be red?
Thanks
piriya33
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@miaomiao18, Those are to be used in conjunction with other systems, ie. I had my market making bot switch biases and change overall risk level when the color changes.
But for vanilla use, you'll want to stick to just green and red.
Leetoajeng
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download โปรแกรมลง โน็ตบุคทางไหนคะ
piriya33
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@Leetoajeng, You can view the chart in your browser krub
suparlerk
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How to scan SET with action zone?
piriya33
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@suparlerk, You can't, Tradingview does not have scanning capabilities yet, you can workaround by screening for MACD level crossing 0 in the screener.
LuXoGuerra
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I trade action zones, but only when a bar closed above or below of it. I don't get how to interpret the color of the bars. There are green, yellow orange (long bias) there are red, blue, aqua (sell bias). So according to this if why to put different color depending the bias? Could you explain this? thank you!!
thannavad132
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ช่วยเพิ่มขนาดของ buy sell signal ด้วยครับ ใส่กราฟแล้วเล็กมากมองไม่เห็นเลย
piriya33
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@thannavad132, Will try adding an option for that in the next update
Great work! Thanks for sharing!
I checked it on chart, but confused on yellow and red candle conditions.
Can you please explain on what condition the candle will be yellow? and what condition to be red?
Thanks