[SCREENER] TAD SYSTEM (Shariah MYX)

The [SCREENER] TAD SYSTEM (Shariah MYX) indicator is a multi-asset scanning tool designed to identify trend alignment across three proprietary systems: Turtle, Atom, and Duck. It allows traders to monitor a predefined list of Shariah-compliant Malaysian stocks (MYX) to find synchronized buy and sell signals based on momentum and breakout conditions.

Usage

The indicator scans through a selected list of stocks and displays labels on the chart when specific technical conditions are met across all three TAD components:

• Turtle (F1 TURTLE): Based on Donchian Channel breakouts. A buy signal is initiated when price breaks above the resistance period, while a sell signal occurs when it breaks below the support period.
• Atom (F1 ATOM): Utilizes Bollinger Band-based volatility and momentum logic to confirm trend direction.
• Duck (F1 DUCK): A trend-following component that identifies alignment with broader price action.

Interpretation:

• BUY Signal: Triggered when the Turtle, Atom, and Duck indicators all align with bullish arrows simultaneously.
• SELL Signal: Triggered when the Turtle, Atom, and Duck indicators all align with bearish arrows simultaneously.

The screener includes various filters to narrow down results, including price range, volume thresholds, and RSI levels. Users can switch between different stock "Lists" (A through R) to cover a wide range of Shariah-compliant equities.

Details

The TAD System integrates three distinct methodologies to ensure high-confluence entries. By combining Donchian Channels (Turtle), volatility bands (Atom), and price action trends (Duck), the script aims to filter out noise found in single-indicator systems. This specific version is optimized for the Malaysian market (MYX) and specifically tracks Shariah-compliant equities as per updated regulatory lists.

Settings

• Label Offset: Adjusts the horizontal placement of the screener labels.
• Show Buy/Sell Label: Toggles the visibility of the signal labels on the chart.
• Stock Lists: Selects the specific group of MYX tickers to scan.
• TURTLE Settings: Configures the Resistance (Upper) and Support (Lower) periods for the breakout logic.
• ATOM Settings: Adjusts the length and Standard Deviation multiplier for the volatility component.
• Filter Settings:
  • Filter Price: Enables minimum and maximum price constraints.
  • Filter Volume: Filters stocks based on average trading volume (in thousands).
  • Filter RSI: Filters results based on whether the RSI is above a specified threshold.

FAQ

How do I access [SCREENER] TAD SYSTEM (Shariah MYX)? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

What does TAD stand for? TAD stands for Turtle, Atom, and Duck, representing the three core sub-indicators used to generate the trend alignment signals.

Are the stock lists updated? The script uses a predefined list of Shariah-compliant equities from Bursa Malaysia. Users should verify compliance regularly as official lists are updated by the Shariah Advisory Council.