This strategy blends the classic Chandelier Stop (otherwise known as Average True Range (ATR) Supertrend) with the Relative Strength Index (RSI). The default settings of the RSI are modeled after Larry Connors' short term trading concepts, which can be found here. All strategies and indicators are intended to operate on the Trading View platform as they are written in Pinescript version 4.0.
Live entry direction with trade warnings and alerts
Live trade building buy and sell stops (for buy/sell stop limits)
Entry location icons as well as pyramid entries (to add to existing position)
2 separate dynamic targets based on the ATR setting and entry location
Built in Multiple Time Frame (MTF) aspect to all ATR dynamic target and stop algorithms
Dynamic trailing stop for swings and scalps
Alert conditions for every update and condition change of the strategy (Provided by the indicator study)
4 pre-built color themes, including candlestick coloring
This strategy is great. . . It's flexible, and you can get very objective profits based on the retracement you choose. This is the best strategy I have seen.
Easily one of the most impressive TV indicators i have used. Cameron (mortdiggiddy) has always put out quality tools. Like all of his other scripts 0 repaint and profitability / profit factor is as real as it gets, no BS 500 profit factors here. Great work and highly recommended.
In continuous use, I found that the script does not cause redrawing, and the winning rate and profitability are real and reliable. This is definitely a unique initiative in the Trading View community, and I must praise it without hesitation.