Danko Trend Color
- Indicatori
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Ricardo Almeida Branco
I started following the Brazilian stock exchange in 2018, in a demo account, and I found the amount of setups used interesting. Taking learning and even the demo seriously, I understood that I should start programming to validate / discard setups. - Versione: 1.0
- Attivazioni: 5
The Danko Trend Colorindicator is actually a candle coloring to bring practicality, ease and information to your charts.
Danko Trend Color combines PRICE AND VOLUMEindicators to define the prevailing trend, so the colors are:
Blue (indicates an uptrend)
Orange (indicates a downtrend)
White (indicates undefined trend)
I don't like to promise anything with my indicators, I ask you to download, test it for free (for use in backtesting) and see if the indicator can, in some way, help your operational.
Knowing this, one possibility of using the indicator as a signal is to change the color from orange or white to blue (buy signal) or the reverse for a sell signal. Opening when the first blue bar closes. This should bring a favorable risk/return ratio!
The second possibility is for you to use the indicator as a filter and associate it with another entry signal that is already part of your strategy.
Place the indicator on your chart and see that Danko Trend Color can be used for scalping, but also on larger time frames (try it in the daily) to catch big trends.
Input parameters:
Plot Mode: You can use it as candlestick coloring or with a colored segment that doesn't change your default colors or get in the way with another coloring indicator.
Uptrend color: Color that will indicate the uptrend
Downtrend color: Color that will indicate the downtrend
No trend color: Color that indicates that the price has not yet defined a direction
Vertical segment offset (in ticks): Maximum/minimum offset distance, in case you choose not to use candle coloring
Segment height (in ticks): Segment height, in case you choose not to use candle coloring
Fast Period: Fast period of the indicator that allows you to customize the indicator in your own way.
Slow Period: Slow period of the indicator.
If you want to map the trend on different timeframes using this indicator, then I will launch the panel with different timeframes.
If you found the indicator idea interesting and want to discuss it, let's use the discussion tab to comment, thanks in advance for the exchange of ideas.
That's it!
If you want to learn about other White Trader indicators, just click on "More from the Author" on the left!
Success and good trading!
