Didi's Needles setup screener

The Didi's Needles setup screener indicator monitors multiple technical conditions across several symbols to identify specific trend setups and trade management signals. It consolidates the Didi Index, ADX, Bollinger Bands, Trix, and Stochastic oscillators into a single dashboard to help traders quickly assess market direction and momentum.

Usage

The script is designed to screen up to 40 symbols simultaneously, providing a comprehensive overview of trend health and potential entry/exit points.

• Symbol Column:

  • Blue Symbol: Indicates a bullish confluence where Didi Index, ADX, and Bollinger Bands align for a buy.
  • Yellow Symbol: Indicates a bearish confluence where Didi Index, ADX, and Bollinger Bands align for a sell.
  • Red Symbol: Indicates a broad trend exhaust where ADX, Bollinger Bands, Trix, and Stochastic suggest closing an active trade.

• ADX Column: Identifies trend strength and directional bias (Uptrend/Downtrend, Strong, Falling) and "Kicks" (reversals from peaks or troughs).

• Didi Column: Signals "Needle" setups (Agulhadas) based on fast and slow moving average crosses relative to a median. It distinguishes between valid alerts, confirmations, and "Fake" points.

• BB Column: Tracks Bollinger Band status, indicating whether bands are opening (expanding) or parallel, and whether the mean is rising or falling.

• Trix/Stoch Columns: Provides momentum confirmation, showing whether these oscillators are in a "Bought" (Bullish) or "Sold" (Bearish) state.

Details

The core logic is based on the "Didi Index" strategy, often referred to as "Needles" (Agulhadas). A valid needle setup occurs when the fast and slow moving averages converge near the median (8-period SMA) and then diverge. This screener tracks these interactions to provide early alerts and subsequent confirmations.

The indicator also integrates ADX levels to filter for high-probability trending environments and uses Trix and Stochastic for final momentum confirmation.

Settings

Table Config

• Column Width (%): Adjusts the width of the table columns on the chart.
• Screen #: Allows for the placement of multiple screener instances.
• Location: Sets the table position (e.g., Bottom Right, Top Left).
• Size: Adjusts the overall font and table size.

Indicator Configs

• ADX Config: Set smoothing, DI length, and the significance level (default 32).
• Didi index config: Customize the Fast (3), Median (8), and Slow (20) averages and the MA type.
• Agulhada: "Delta t Needle" defines the time window between an alert and a confirmation.
• Bollinger Bands: Adjust length, source, and standard deviation for the BB column logic.
• Trix & Stoch: Configure the periods and smoothing for momentum filters.

Symbols

• u01-u40: Toggle switches to enable or disable specific rows in the screener.
• s01-s40: Symbol inputs to define which assets to track.

FAQ

How do I interpret a "Fake Buy" or "Fake Sell" in the Didi column? A fake signal occurs when the fast average crosses the median, but the slow average is already trending in that direction. This usually suggests a trend continuation rather than a new reversal, often used to increase position size or hold existing trades.

What does the "Kick" in the ADX column mean? A "Kick" is a turning point where the ADX was rising (increasing trend strength) and starts to fall, or vice versa, signaling a potential loss of momentum.

How do I access Didi's Needles setup screener? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.