eSignal Study: A trailing stop provides a systematic way to know when to exit a trade. It is especially useful for trend traders and breakout traders who like to let profits run while maintaining a logical exit for when the market trend changes so they can exit their position in a controlled and timely manner. Using efficient stops is applicable to all markets from equities and options to forex and futures and e-mini and in any timeframe.

This study is intended to assist traders looking for a systematic way to follow their trades with a trailing stop or to be alerted to changes in market trends. As its name suggests this indicator uses "Average True Range" to trail a stop behind prices. We use average true range in our trailing stop indicator instead of a fixed percentage because this allows the trailing stop to adjust to the volatility of the market in which it is being used.

Using the correct settings, this script can also be used to determine bias.  Bullish, trading above the line, bearish below.  

For additional guidance on using the ATR Trailing Stop, please visit this article. 

The period and multiplier are customizable to suit the vehicle you are trading.  Plus, the colors and line thickness are also customizable!

BONUS! Also available is the ATR Trailing Stop "Band".  This works the same way as the ATR Trailing Stop, but shows the ATR TS level above AND below the price.  This can be useful for setting targets as well as your stop.

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  It is very useful to know tomorrow's pivot point (TPP) as it can act as support/resistance as well as bias.  This script dynamically outputs the TPP as the day progresses using the current day's high, low, and close (as opposed to yesterday's HLC, which is how the normal PP is calculated).

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  Similar to other "gauge" indicators on this site, this script gives the bias/trend based on the crossing of 2 given MA's from multiple time frames on a single chart.

A common technique to determine bias is to look at two moving averages (one "slow" and one "fast").  When the "fast" MA is above the "slow" then that shows a bullish bias.  The opposite is true if the "fast" MA is below the "slow" MA.  To take this concept one step further, this script monitors two moving averages across mutiple time frames.

In the example image, it is using the 32 sma (Simple Moving Average) and the 50 sma on the 5, 15, 30, 60, 120, 240 minute time frames.  If the block has a green background, the "fast" MA is above the "slow" MA showing bullishness.  The text is also green showing they are also separating, showing even more bullishness (this is the situation for the 30, 60, and 120 minute time frames in the example image).  The opposite is true for a red background with red text (15 minute).  If the background is showing bullishness, but has red text (such as the 5 minute), then it means the MAs are showing bullishness, but are converging.

For performance reasons, it is recommended to use as few time frames as necessarily.  Set to "0" for none in the parameters.

The moving averages and the time frames are all user definable! 

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  Give the MACD bias/trend from multiple time frames on a single chart.

Similar to other "gauge" indicators on this site, this script allows you to monitor the MACD on multiple time frames from a single place. 

The MACD settings and the time frames are all user definable!  

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  Similar to other "gauge" indicators on this site, this script give the bias/trend based on if PRICE is above or below a given moving average. Displays the bias from multiple time frames on a single chart.

Similar to the MA Cross script, except instead of looking at the relationship of two moving averages, this script looks at the relationship of a single moving average and the current price.

In the example image, it is looking at the 21 ema on the 5, 15, and 30 minute timeframes. Over all three time frames, the current price is above the MA, thus all have a green background.  However, price is moving toward the MA, thus the text is colored red for each.  

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  This script is intended to be used with the Oscillator Study in 3/10 mode. The idea is sometimes a 3/10 cross will happen and then pullback during the same bar. This script will alert of that "skim".

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

IMPORTANT: This script requires the Sound Pack.  You can download it here.

eSignal Study: This script was originally developed for use on daily charts, but it will work on any time frame.  This script gives a quick bias summary of the CCI, RSI, Directional Movement, and Stochastic.  Red for bearish and green for bullish.  If background is red and the text is green, then it means it is bearish but turning bullish.  Similarly, if the background is green and the text is red, then it means it is bullish, but turning bearish.

All studies use default parameters. 

Commodity Channel Index (CCI) - Looks at curent direction (moving up or moving down) and if it is overbought (>100) or oversold (<100).

Relative Strength Index (RSI) - Looks at current direction (moving up or moving down) and if it is overbought (>60) or oversold (<40).

Directional Movement (DM) - Looks at PDI and NDI, which is on top, and whether they are converging or diverging.

Stochastic (STO) - Looks at the K and D, which is on top, and whether K is overbought (>80) or oversold (<20). 

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  This script was originally developed for the 6E 1-minute chart to indicate if there is a volume spike.  However, it may work with other symbols or time frames.

The idea is that when there is a large candle with high volume, this could indicate exhaustion and a possible price reversal. You can adjust the threshold to filter out smaller volume spikes.

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

IMPORTANT: This script requires the Sound Pack.  You can download it here (free).

eSignal Study: This strategy looks at the range of the first 30 minutes after open and indicates a break of this range.

In the example image, two black lines are drawn showing the first 30 minute's range. You can see that once the lower part of this range was broken (indicated by the blue arrow), a significantly more to the downside.  Thus, the TMR gauge is red and says "short".  Note, the script itself does not draw these lines nor the arrow, but merely the "gauge" on the bottom left of the chart.

Basic Idea:  After the first 30 minutes of trade:

• If a new low is made, assume the market will close lower than that first 30-minutes low.
  
• If a new high is made, assume the market will close higher than that first 30-minutes high.

eSignal Study: Mirrors the functionality of Advanced GET's Oscillator (Osc) with added customization. Supports normal, extension, alternate, and custom modes. The oscillator can be color-coded for "above zero" (green) and "below zero" (red) or give an indication of "momentum" by using bright colors as increased growth of the bar. Note: Advanced GET is NOT required for this study.  

Osc type, custom moving averages, color-coding style, line color, zero line, and osc outline are all customizable! 

This study can be used as the popular "3/10 Osc" by manually using the settings shown in this image. Or you can automatically use the recommended settings by setting the "Osc Type" to "Alternate 3".

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

IMPORTANT: This script requires the Sound Pack.  You can download it here.