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iTradeAIMS | The Purple MagicThe Magic Purple Line To put it very simply, the Magic Purple Line is the Trend Line that I use for my trading. It is a Trend line based on Trading Chaos. Yes, it is the Red Line of the Bill Williams Alligator but... It is the Red Line of the 5 times higher time frame This means you will ALWAYS be in tune with the trend of the higher time frame. that's very simple. I arrived at this indicator by using some fractal geometric math logic. The Redline of Bill Williams Alligator Indicator is calculated by using 8-period smooth moving average with a shift of 5 periods to the right. Multiply 8 by 5 = 40 Multiple 5 by 5 = 25 But to get it Fractal Geometrically correct, I converted it into the Nearest Fib Numbers. et voila, you have the Magic Purple Line How to calculate The Magic Purple Line: Plot a 34 Smooth Moving Average with 21 Shift I used it like this. I take entries using AIMS The Box indicator. I want the box to be always above the purple line for my buy orders and vice versa for shorts E.g. Tesla Entries Marked on this chart. Note that all entries are marked as Buy Orders because the price is above the purple line. Hope this helps improve your trading. If you like it, please hit the LIIKE button and Follow iTradeAIMS 🎈🎉
Pine Script™ indicator
by iTradeAIMS
11
iTradeAIMS | The BOX IndicatorIntroduction to iTradeAIMS The Box Indicator Here I will attempt to give a brief introduction to this amazing indicator that has revolutionised my trading since 2009. Everything in the universe is energy and energy follows the path of least resistance. When it moves it heavily influenced by a structure. When energy flows it reacts to the underlying structure. Electricity flows through copper wires easily compared to "my arm". A river flows smoothly on flat plains of the land but becomes violent when flowing down a mountain. Why is this? Why does it change its behaviour? The Science of Chaos Brings us here. Everything in the universe has an internal or underlying structure. That structure is often, but not always, hidden. The Market has an underlying Unseen Structure. And it can be revealed by using this indicator. TSX:TSL Anatomy of the Box The iTradeAIMS Boxes are formed using the high and low of the fractals. A new AIMS Box will be created whenever price makes a new high or low Fractal. The bottom of the AIMS Box – the Lower AIMS Level - is created when a low Fractal is formed i.e. the low of a candle is lower than two candles to the left and two candles to the right. What is the Underlying Structure of the Market? The underlying structure of the Market is Elliott Wave . And the Underlying Structure of the Elliott Wave is the Fractals. This BOX is an indicator based on the Fractals. The Upper and Lower Levels require a minimum of five bars with the top of the box being the upper Fractal; the bottom of the box, the lower Fractal The AIMS Levels are the high and low of the AIMS Box – the upper and lower Fractals. This indicator, by itself, provided the concept that revolutionised my trading. What are the Benefits of Using AIMS iTradeAIMS The Box? 1. Identify Trend: The Box will also help you identify Trending Markets. The Stepping Up pattern it creases is an indication of UPTREND . The Stepping Down pattern indicates DOWNTREND . 2. Identify Entry Points The Box will help you identify Entry Points into the market. There are two ways it helps you make entries into the market. a) breakout entry b) trend following entry 3. Identify Range-Bound Market The Box helps identify a sideways range-bound market. When the box is not creating either a stepping up or stepping down pattern, it usually indicates to a sideways or rangebound market on that time frame. 4. Help you Make Entries: Calculate Correct Positions Size and Risk Size The BOX is the structure of the market that offers the best method of How to calculate Risk Per Trade based on the market generated information. Calculate your Entry Level and Stop Loss level using the Box Levels on either side of the box. Buying the Box: Set a Buy Order a Point above the Box and Stop Loss a point below the Box Low. Selling the Box Set a Sell Order a Point Below the Box Low and Stop Loss a Point Above the Box High. TSLA Entries and Exits for Tesla Stock I took this trade on the box high of this stock OII I shared the Idea on TradingView as a Buy Signal on OII Check the BitCoin Entry Here 5. Stop Loss Trailing Mechanism to Lock in Profits The box levels are used for Trailing Stops. For Long (Buy) Orders use the box low as a stop loss level for trailing and locking-in profits. For Shorts (Sell) Orders, use the Box High levels for trailing stop and lock in profits. 6. Support and Resistance The Box Levels (upper and lower) clearly shows support and resistance – where price approached a level and could not go further, forcing it to retrace on itself. Pay attention to how box levels create ranges and also indicate trends. How to Use this Indicator with other Indicators? This indicator is great on its own but even greater if used in conjunction with iTradeAIMS The Wave and The Gator and The Magic Purple (Script Available FREE to use on iTradeAIMS Profile) > The market always creates an AIMS Box before it turns around. > Every trend starts and ends with an AIMS Box. > Entries are always taken on the breakout of the AIMS Box. How to Get Access to This Script? Enjoy and accept it as my gift to the TradingView Community from iTradeAIMS | This Indicator is now available to everyone for FREE. Credits: I learned the method from Bill Williams of Profitunity.com All credits, thanks, gratitude, positive vibes, and prayers goes to Dr Williams 🥇 (RIP) and his family ❤.
Pine Script™ indicator
by iTradeAIMS
7
AIMS Purple MagicThe Alligator is a Very Powerful Indicator Some people think it's just 3 moving averages. But in reality, it is far more than that. Read more about Alligator and Bill Williams The Purple Magic Line has been derived from Bill Williams Alligator. Together the Alligator we call the AIMS Gator. It is a smooth moving average based on the Chaos Red Line of the 5 times higher time frame. Our Mantra: If you trade in line with the trend of the 5 times higher time frame, you will have a higher chance of catching breakouts in the direction of the trend. So we have this rule, Always Trade when Price is Going Away from The Purple Line. Simple as that. Buy Only: Price above the Purple Line Sell Only: Price below the Purple Line. What is The Alligator? The Alligator Indicator was developed by Bill Williams and combines moving averages with fractal geometry. The indicator helps traders to identify if the market is trending. It consists of 3 lines: the blue line (aka the Alligator's Jaw), the red Line (aka the Alligator's Teeth) and the green Line (aka the Alligator's Lips). Each has different lookback periods and offsets that can be set by the user. The alligator is easy to use and can find trade setups, based on how close together or how far apart the lines are, resembling an alligator opening and closing his mouth. This indicator can be used in combination with other analysis techniques. Based on calculations of Non-Linear mathematical formula we have arrived at a way to calculate the Trend of the 5 times higher time frame The Purple Magic Indicates : The Trend of Current and 5 times higher time frame It helps prevent trading into Wave 4 It helps with counting Wave 3 and 4 You can use it to time early entry into Wave 5 The bounce of Purple after a wave 3 is often a 50% fib retracement. Examples: In the picture below you see an M5 chart and M1 chart. On the left side, you see Alligator Red Line on the 5-minute chart on the right side, you see The Purple Magic line. Which depicts the same price regions. This is the Sweet Spot where we take trades. In line with The Awesome oscillator if you time your entries based on a pullback towards the purple, it can be a system on its own. Nothing else required. But we have a better method. When we put together, AIMS The Box, AIMS The Gator, and AIMS The Wave indicators, things work even smoother. For more information visit the link below.
Pine Script™ indicator
by iTradeAIMS
74