Miyagi: The attempt at mastering something for the best results.
Miyagi indicators combine multiple trigger conditions and place them in one toolbox for traders to easily use, produce alerts, backtest, reduce risk and increase profitability.
Miyagi STrend was created to allow traders the ability to both scalp and swing trade from as singular indicator. STrend aims to help traders catch more of the move.
STrend starts with the native TradingView SuperTrend indicator and adds in extra filtering in the form of the SuperTrend Oscillator (ST OSC), and an Adaptive Moving Average (AMA) - all of which are adjustable.
Entry conditions start with the following:
Long Entry: SuperTrend must be green (candles above SuperTrend), price above the Adaptive Moving Average (AMA), and lastly the SuperTrend Oscillator (ST OSC) at maximum +100.
Short Entry: SuperTrend must be red (candles below SuperTrend), price below the Adaptive Moving Average (AMA), and lastly the SuperTrend Oscillator (ST OSC) at maximum -100.
Exits are provided for both directions, long and short, when the SuperTrend Oscillator (ST OSC) hits maximum (+100/-100).
Please note the SuperTrend Oscillator (ST OSC) is not shown on the chart however is used for the final calculation to confirm entries.
We have added an "Entry on Exit" selector which allows users to enable entries on exit candles. This may allow more trades, however will incur more risk.
With "Entry on Exit" selected entry and exit alerts CAN fire in same candle and may require delays if using STrend as a swing indicator.
Without "Entry on Exit" selected entry and exit alerts CANNOT fire in same candle. This will produce less signals overall however may be safer for traders to use.
It would be best suited to utilize a stoploss when trading with Miyagi STrend to minimize risk.
Alerts are meant to fire on "Once per Bar Close" to confirm entry and exit signals.
Happy Trading!