Pro Trading Signals - Trend + S/R + Risk

The Pro Trading Signals - Trend + S/R + Risk indicator provides a comprehensive trading framework by combining trend identification, dynamic support and resistance detection, and automated risk management.

Usage

The tool is designed to identify high-probability entry points based on market structure and momentum. It generates Long and Short signals when specific technical conditions align:

• Trend Identification: The indicator uses multiple EMAs (9, 21, 50, 200) to ensure trades are only taken in the direction of the prevailing market regime.
• Entry Signals: Signals are triggered by pullbacks to moving averages or bounces from support/resistance levels, provided momentum (RSI) and volume conditions are met.
• Signal Scoring: Each signal is assigned a score based on factors like trend strength and volume. Users can set a minimum score threshold to filter out lower-quality setups.
• Risk Management: Upon signal generation, the script automatically plots Stop Loss and Take Profit levels based on the Average True Range (ATR) and a user-defined minimum Risk:Reward ratio.

Details

The script utilizes a weighted scoring system to evaluate trade setups. It assigns points for trend alignment (EMA stacks), volume surges, RSI positioning, and proximity to key horizontal levels. Horizontal levels are derived from pivot highs and lows using a lookback period to establish significant support and resistance zones. Volatility filtering is also integrated to avoid entering trades during choppy or extremely volatile market conditions.

Settings

Trend Detection

• Fast EMA (Trend): Sets the period for the fastest EMA used in trend stacking.
• Medium EMA (Trend): Sets the period for the intermediate trend EMA.
• Slow EMA (Major Trend): Sets the period for the slower trend EMA.
• EMA 200 (Market Regime): Sets the baseline filter to distinguish between broad bullish and bearish regimes.

Momentum & Volatility

• RSI Length: The lookback period for the RSI momentum calculation.
• RSI Strong/Weak Threshold: Defines the bounds for bullish/bearish momentum confirmation.
• ATR Length: The period used for calculating volatility for stop loss placement.
• ATR Multiplier (Stop Loss): Determines the distance of the stop loss from the entry price.

Support/Resistance & Filters

• S/R Pivot Lookback: Defines the sensitivity for detecting swing highs/lows.
• S/R Touch Tolerance %: The percentage distance allowed to consider price "near" a level.
• Minimum Risk:Reward Ratio: Sets the minimum required distance for Take Profit levels relative to the Stop Loss.
• Minimum Signal Score: Filters signals based on their calculated strength (0-100).

FAQ

How do I use the signal score?

The signal score helps you prioritize setups where more technical factors align. A higher score indicates stronger trend alignment and volume support. You can adjust the "Minimum Signal Score" in settings to be more or less selective.

Can I adjust the risk parameters?

Yes, you can modify the ATR Multiplier for stop loss distance and the Minimum Risk:Reward Ratio in the settings menu to match your personal trading plan.

How can I access Pro Trading Signals - Trend + S/R + Risk?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.