Tool: Chop & Trade Zones

Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX

Описание

⋅ 5 авг 2020 г., 08:57

A simple yet powerful way to filter out choppy ranges or sideways moves without missing out on good trades

It calculates the %-distance of the price to a moving average so you can ignore buy/sell signals around the center line.
The upper and lower line are thresholds to catch reversals of the trend when the distance to moving average is increasing.

Thanks @dgtrd and @imzeeshan for the inspiration 🙏

Комментарии

Omaraa90

⋅ 7 авг 2020 г., 23:34

Hi, I added the indicator, but it shows a straight line all along - I have looked at all time frames and it's still does display as a straight line.

Is it designed for Crypto only?

Thanks.

rhanna

⋅ 9 авг 2020 г., 09:11

@Omaraa90, i experience the same.@nilux how can we apply your filter on other assets other than crypto?

bondnuetron

⋅ 25 дек 2020 г., 11:57

When applied to my chart it shows market is forever in Chop zone. Can someone help me set it up properly?

pmdb2

⋅ 4 янв 2023 г., 14:00

Maybe update settings. For example for Forex thresholds could be 0.04, -0.04, 0.08, -0.08 (depends on movement of course). Sma length also needs to be adjusted according to selected time frame. (for 1 min sma 20/50/100 only).

nilux

⋅ 8 авг 2020 г., 06:45

Here is the v2 version with lots of additional filters, plots and alerts: tradingview.com/script/eZr1BIke-Tool-Chop-and-Trade-Zones-v2/

Yahmez

⋅ 30 сен 2021 г., 18:13

Neither of the versions work

ASIFKERIM

⋅ 5 авг 2020 г., 15:17

Hi Bro,is it useful for scalping...

nilux

⋅ 5 авг 2020 г., 16:06

@hjsjshs, this is not an indicator for entries and exits but a filter to use one top of your strategy. if it's good for scalping, I don't know... probably it is.

xtricten

⋅ 23 авг 2023 г., 16:04

it needs lower values minutes charts:
len = input(21, title='Length')
src = input(close, title='Source')
dist_limit_long_h = input.float(0.05, title='% Distance Threshold Center (Long)', step=0.1, minval=0.0)
dist_limit_long_l = input.float(-0.2, title='% Distance Threshold Lower (Long)', step=0.1, maxval=0.0)
dist_limit_short_l = input.float(-0.05, title='% Distance Threshold Center (Short)', step=0.1, maxval=0.0)
dist_limit_short_h = input.float(0.2, title='% Distance Threshold Upper (Short)', step=0.1, minval=0.0)

ma = ta.ema(src, len)

dgtrd

⋅ 26 авг 2020 г., 09:53

very well done,
i keep deriving from distance concept and as I can see you do too cleverly ;-)

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