Add SSL Hybrid indicator

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The SSL Hybrid indicator

The SSL Hybrid indicator by Mihkel00 is designed for the NNFX Method and is recommended for daily charts.

• Baseline (SSL / MA): You can choose between the SSL (Stop and Reverse Line) or a Moving Average (MA) as your baseline. The baseline serves as a reference for entries and exits.
• Secondary SSL: This secondary SSL is useful for continuation trades.
• Third SSL: The third SSL assists with exit trades.
• Alerts: The script provides alerts for baseline entries, SSL2 continuations, and exits.
• Keltner Channel Setting: The baseline incorporates a Keltner Channel setting for identifying when price is “in zone.”
• Gray Candles: Gray candles are added based on the condition of “Candle Size > 1 ATR.”
• Diamonds: Diamonds from an older script are included, with the criteria of being within the Baseline ATR range.

Source script: Link
Description link: Link

Some Trading strategies:

• Trend Direction:

  • Buy when the table option shows completely Blue signals across all indicators.
  • Sell when the table option shows completely Pink signals across all indicators.

• Entry and Exit Points:

  • Entry: Look for SSL1 crossing the baseline to enter both long and short trades.
  • Stop Loss: Calculate the stop loss based on an ATR multiplier.

• Take Profit (TP):

  • Option to move the stop loss to break even on TP1.
  • Alternatively, rely on indicator flips to exit from positions.
  • Configure take profits with up to 5 ATR multipliers and exit percentages.

• Exit Arrows:

  • Use the SSL Hybrid’s EXIT ARROWS to determine trade entry and exit points.
  • Enter LONG trades on BLUE exit arrows.
  • Enter SHORT trades on RED exit arrows.

• Dynamic Position Management:

  • The indicator allows up to 3 DCA (Dollar-Cost Averaging) orders for trade entry.
  • While it sets a stop loss, it does not set any take profit levels.