update of the code to Cycle Trader Indicator
I have just published an update to the code of the Cycle Trader Indicator. That new update made the Trend Band a very efficient trend filter.
The Trend Band is the thick colored band. It automatically changes its color based on the prevailing trend.
Every pullback to the Red Trend channel can be considered an attractive Short setup.
Every pullback to the Green Trend channel can be considered an attractive Long setup.
The Band allows you to quickly adapt to changing market conditions and flip from long to short bias in a heartbeat:
If you had access to the previous version of the Cycle Trader indicator you do not need to request permission to get an upgrade.
To switch to the new version of that algo follow the steps:
(1) delete the Cycle Trader Indicator from your chart, then
(2) reload TradingView page in your browser and, finally,
(3) go to Indicators/ Invite Only and pick the Monkey Cycle Trader Indicator.
If you double click any elements drawn by the indicator you will get to its menu:
My preferred timeframe is 30 min.