jiehonglim

Trend Follower | jh

This is a trend following system that combines 3 indicators which provide different functionalities, also a concept conceived by VP's No Nonsense FX / NNFX method.


1. Baseline

2. Volume / Volatility , I will called it Trend Strength
  • The next indicator is commonly known as ASH, Absolute Strength Histogram.
  • This indicator was shared by VP as a two line cross trend confirmation indicator, however I discovered an interesting property when I modified the calculation of the histogram.
  • - Alex Grover Absolute Strength
  • -------
  • My modification and other info here
  • - Absolute Strength Histogram v2
  • -------
  • I simplified the display of the trend strength by plotting squares at the bottom of the chart.
  • - Lighted Squares shows strength
  • - Dimmed Squares shows weakness

3. Second Confirmation / Exits / Trailing Stop
  • Finally the last indicator is my usage of QQE (Qualitative Quantitative Estimation), demonstrated in my QQE Trailing Line Indicator
  • - QQE Trailing Line for Trailing Stop
  • -------
  • Three usages of this amazing indicator, serving as :
  • - Second trend confirmation
  • - Exit signal when price crosses the trailing line
  • - Trailing stop when you scaled out the second trade
  • This indicator is plotted with crosses.


Additional plots and information
  • Bar Color
  • - Green for longs, Red for shorts, White when the baseline direction conflicts with the QQE trailing line direction
  • - When it's white, it's usually ranging and not trending, ASH will also keep you off ranging periods.
  • -------
  • ATR Filter
  • - White circles along the baseline, they will show up if the price has moved more than one ATR from the baseline
  • - The default allowance is 1 ATR.
  • -------
  • The previous and current ATR value
  • - Label on the right side of the chart showing the previous and current value of ATR

Adding my Didi and ASH indicators up on this screenshot
Didi Index Improved with QQE
הערות שחרור: Created another version for Light mode as a few key plots are in white.

One change for this Dark mode version is to add a text label spacing input that allows you to adjust the spacing for text label from price.
הסר מסקריפטים מועדפים הוסף לסקריפטים מועדפים
Tip Jar :)

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תגובות

Congratulations for your Script.
So far I have Backtested NzdAud, UsdCad and EurUsd on 2018-2020 period.
I have got a 14% Roi par year and a 70% win rate average.
Still lot work to do, but so far really interesting results.
Personally I have added another filter using the Action Locator v.2.0 to have another filter.

I will post the final Backtest if someone is interested.
השב
Great script. Thanks :)
השב
Do you have a back testing strategy script for this as well. It would be great if you could make one.
השב
awesome work bro, can you please make strategy with this for backtest?, this as continuation with your did and ash
השב
amazing work!
השב
what would you suggest in the rangebound market as multiple Buy sell Signals are generated how to avoid them?
השב
jiehonglim rahulsane
@rahulsane, Good question ! We can use another indicator as a filter for trending and range bound periods. I posted one over here:
השב
jiehonglim jiehonglim
Ah, I forgot to add the squares at the bottom are exactly what ASH is representing. Range bound if they are dimmed, trending if they are lit up.
השב
Very good @jiehonglim !!
2 questions please.

1. Why is ATR showing different value in NNFX basline script and in Trend follower?
2. Wbich one of those 2 mentioned above do you see more accurate please?

Thanks for sharing your amazing work!!!
השב
@Muzaaa, Good catch. The baseline script wasn't using RMA for the ATR. I have fixed that.
+1 השב
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