TCSE24 or Trendband Cycle Special Edition is designed to help create a simple trading plan by identifying potential Entry, Exit, Target Price, and Stop Loss. I use TCSE24 as a guide for short-term swing trading!
Link to TCSE Indicator
https://www.tradingview.com/script/K6VGSmhG-TCSE24/
Only work with chart that have volume by default
Signals for Bullish Trade
1. Trendband Below Candlestick
[*] Filled Red with a Purple Line.
2. Cycle Begin
[*] Bar Color: Vivid Green.
[*] Green Circle Above Candlestick: Target Price.
[*] Green Circle Below Candlestick: Pullback Entry.
[*] Red Circle Below Candlestick: Stop Loss.
3. Breakout
[*] Bar Color: Lemon Green.
[*] Green Circle Below Candlestick: Pullback Entry.
[*] Red Circle Below Candlestick: Stop Loss.
4. Broken Minor Support
[*] Bar Color: Yellow.
[*] Price closes below the lowest low of the last 4 candles.
5. Volume Test
[*] Green Triangle-Up below Candlestick.
[*] Current bar shows 3 consecutive falling volumes.
6. Inside Bar
[*] Orange Triangle-Up below Candlestick.
[*] High and low are within the high and low of the previous candlestick.
7. Box Trading
[*] Purple Diamond
8. Cycle End
[*] Bar Color: Red.
[*] Red Triangle-Up below Candlestick.
9. Info Panel
[*] Background Green, turning Yellow after 20 bars from Cycle Begin.
[*] Background Red when Cycle Ends.
[*] Displays info such as Current Price, Target Price, Pullback Price, Stop Loss.
Signals for Bearish Trade
1. Trendband Above Candlestick
[*] Filled with Blue.
2. Short Selling Begin
[*] Bar Color: Blue.
[*] Blue Circle Above Candlestick: Stop Loss.
[*] Blue Circle Below Candlestick: Target Price.
3. Breakdown
[*] Blue Circle Above Candlestick: Stop Loss.
4. Short Selling End
[*] Bar Color: White.
[*] Blue Triangle-Down above Candlestick.
5. Info Panel
[*] Background Blue throughout the trade.
Bullish Trade Entry Suggestions
1. Ensure Cycle Begin is confirmed:
[*] Buy near the closing price.
[*] Use a Buy Stop 2 ticks higher than Cycle Begin's highest price.
[*] Use a Buy Limit at the pullback price.
[*] Wait for a signal candlestick, then Buy the next day if the price rises above the signal candlestick’s high.
2. Ensure Breakout is confirmed:
[*] Buy near the closing price.
[*] Use a Buy Stop 2 ticks higher than Breakout’s highest price.
[*] Use a Buy Limit at the pullback price.
3. Box Trading:
[*] Buy on the third day (T3).
[*] Buy above the Box Trading line.
4. Candlestick Signal:
[*] Ensure the signal candlestick is confirmed:
[*] Look for Doji, Spinning Top, or Hammer patterns.
[*] Buy the next day if the price rises above the signal candle's high.
Bullish Trade Exit Suggestions
1. Target Sell
[*] Sell when the Target Price (TP) is reached or hold as long as Stop Loss isn’t hit.
[*] Sell if the price doesn’t move, doesn’t reach the target, or doesn’t hit the Stop Loss after 20 candles from Cycle Begin.
[*] Sell if the price closes below the Stop Loss.
2. Candlestick Signal
[*] Look for Doji, Spinning Top, or Hammer patterns.
[*] Sell the next day if the price drops below the signal candle's low.
Bearish Trade Suggestions
Ensure Short Selling Signal or Breakdown is confirmed:
[*] Sell near the closing price.
[*] Close the position at Target 1, Target 2, Target 3.
[*] Close the position if Stop Loss is hit or when Short Selling End appears.
Any alert() function call freq
Once_per_bar_close
[*] Cycle Begin, Inside Bar, Doji, Hammer, Spinning Top, Box Trading, Volume Test, Short Selling
Once_per_bar
[*] Breakout, Cycle End
For educational purposes only and should not be taken as advice on how to invest your capital. Always speak with a professional financial planner or advisor before making any investment decisions.
With Moomoo, enjoy 0 commission for 180 days on trades and Get Deposit Rewards for New Account Opening.
Exclusive Code : TCSE24
https://start.moomoo.com/01wfZT
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