It is an indicator that analyzes the high and low prices in real time by Dow theory, draws a trend line, and draws the predicted arrival point in the Box format after breaking the low price and the high return price.
To show an example of how to use it in trading, after the color of the drawn Box changes from gray to green or red, wait for the candlestick to return to near the drawn trend line and make an entry to the target. We support trades that get risk/reward spreads better.
If you look at the YouTube video of ScreenShort while paying attention to the following points, you can understand that the trend transition is drawn in a surprisingly easy-to-understand manner and that it is a useful indicator for any type of trader.
- A mark is drawn when the high price/low price, or the high price/low price is updated.
- Draw a trend line when forming an uptrend or downtrend based on the Dow theory.
- Draw Box in real time at low price and high return price, etc. Draw with the line of the target (161.8%, 200%, 300%, etc.).
- GrayBox is a box that does not have a closing price, and when the closing price is entered, the color changes to GreenBox or RedBox.
- When the color changes to GreenBox or RedBox, Fibonacci retracement is displayed until it falls below 100%.
- The point of trend change is easy to understand. Break above the downtrend line -> consult the buying box -> return move -> break the closing price of the buying box -> create a rising low and form an upward trend →
Variable Value Description nBars 5 When a high or low price appears in the number of candlesticks specified, it is considered Edge. ShortName The name to be given to the beginning of the object name, such as a trend line. If it is blank, nBars will be given and automatically generated. drawTopBottomEdge true draw high-low price Mark. TopBottomEdgeWidth 1 Width TopEdgeArrowCode 108 High Price Mark ArrowCode BlueTopEdgeArrowCode 108 Updated High Price Mark ArrowCode BottomEdgeArrowCode 108 Low Price Mark ArrowCode RedBottomEdgeArrow2Code 108 Updated Low Price Mark ArrowCode TopEdgeArrowColor DarkGoldenrod color BlueTopEdgeArrowColor DodgerBlue color BottomEdgeArrowColor DarkGoldenrod color RedBottomEdgeArrowColor Red color
Variable Value Description drawUpTrendLine true Draw Up TrendlLine. UpTrendLineColor Blue Up TrendLine's Color. drawDownTrendLine true Draw Down TrendLine. DownTrendLineColor Red Down TrendLine's Color. TrendLineWidth 2 Width of TrendLine. TrendLineStyle Solid Style of TrendLine.
Variable Value Description enableBuyEntryInfo true Display Buy Box enableSellEntryInfo true Display Sell drawGrayBox true
drawFixedBox true Display Fixed Box Target1Per 161.8 Target1(SkyBlue)% Target2Per 200.0 Target2(Blue)% Target3Per 300.0 Target3(Green)% BoxPer 200.0 BoxEnd% TargetLineWidth 2 Width of Target Line drawBoxText true draw text BoxTextFont Arial TextFont BoxTextSize 8 TextSize BoxTextColor MediumSeaGreen TextColor
Variable Value Description drawBuyEntryLine false Draw Entry HLINE of Buy Box BuyEntryLineColor Blue Color of HLINE BuyEntryLineWidth 3 Width of HLINE BuyGrayBoxColor DarkGray Color of GrayBox(Buy) BuyFixedBoxColor Green Color of FixedBox(Buy) BuyFixedBoxColor2 Gold Color of FixedBox(Buy) (If the latest Sell Box cannot reach the target and goes to Stop. ) BuyTarget1Color SkyBlue View Fibonacci Retracement for purchase BuyTarget2Color Blue BuyTarget3Color Green BuyTargetClose200 Red Color of Target( 200% based on closing price.) drawBuyFibo true BuyFiboWidth 1 Line thickness BuyFiboN 3 FiboLevel1-N (N=3, 6, ...) BuyFiboLevel[1-6]per 100.0-23.6 100.0%, 76.4%, 61.8%, 50.0%, 38.2%, 23.6% BuyFiboLevelColor DodgerBlue Line color
(SellXXX exists as well as BuyXXX.)
Variable Value Description useAlert false Show Alert when GreenBox or RedBox is generated send_mail false Send Mail when GreenBox or RedBox is generated SoundFileTopBlue PlaySound when BlueTopEdge generated SoundFileTop SoundFileBtm SoundFileBtmRed AnalyzeBars 300
The number of candlesticks to analyze. Specify 0 to analyze all candlesticks.
If you want to hide it, set drawBuyFibo and drawSellFibo to false.
(2) The description of the variable was in Japanese, but it was corrected to English.