Trendline Angle Pro V6 (Degree + Strategy) by dewanpro
By dewanpro
Performance Metrics
- Author: dewanpro
- Symbol: NASDAQ:GOOGL
- Timeframe: 1 day
Description
Trendline Angle Pro V6: Degree, Zones and StrategyWhat it does: This script measures the angle of a trend in degrees and shows how strong the move is. It normalises the angle by ATR, so the same degree values mean the same thing on stocks, indices, options underlyings, crypto, commodities, metals and forex.Angle zones• Steep (45° or more): strong momentum• Moderate (20° to 45°): healthy, sustainable trend• Flat (below 20°): weak momentum or consolidation• Downtrends use the same zones with negative angles.What you see on the chart• Pivot-based support and resistance trendlines, each labelled with its degree and zone.• The last major swing line with points moved and degree.• An angle fan from the latest major swing: 20° red, 40° blue and 45° dark green.• A dashboard with the live angle, zone, meaning and ATR.Strategy rules• Long entry: the live angle is +20° or more, the fast EMA (9) is above the slow EMA (50), and price crosses back above the fast EMA.• Short entry: the mirror image, with the angle at -20° or steeper.• Exits: a 1.5 ATR stop, a 2:1 reward-to-risk target, or an exit when the angle turns flat.• Shorts: these can be switched off, for example for cash-segment stocks.2. How to Use It1. Pick the timeframe: Use 5 to 15 minutes for intraday on indices, or the daily chart for swing trades.2. Read the zone first: Trade in the direction of a Moderate or Steep angle. Stay out when the zone is Flat.3. Use the fan lines: A pullback that holds the 40° or 45° line is a stronger setup. A close below the 20° red line suggests momentum is gone.4. Size positions by risk: Risk 0.5% to 1% of capital per trade, using the stop distance (1.5 ATR) to work out quantity. Don't use fixed large lots.5. Options: Take the signal from the index or stock chart, then choose the option strategy separately. Defined-risk positions are safer for beginners.6. Test before going live: Backtest each market with realistic commission and slippage. Then paper trade for a few weeks before risking real money.3. Honest Note on ProfitConsistent profit comes from risk control, patience and testing on each market, not from the indicator alone. The settings that suit Nifty will not suit Bitcoin or Gold, so tune the angle scale, EMAs and stop for each. Avoid over-fitting: a backtest with 100 or more trades across different market phases is more trustworthy than a short, perfect-looking one.4. Terms and Conditions / DisclaimerDisclaimer: This script is for educational and informational purposes only. It is not investment advice, a recommendation, or a solicitation to buy or sell any security, option, cryptocurrency, commodity or other instrument. Trading in stocks, derivatives, crypto and forex involves substantial risk of loss, and you can lose more than your initial capital, especially with leverage and options. Past performance and backtest results do not guarantee future results. Backtests have limits, including hindsight, slippage, liquidity and changing market conditions. The author makes no guarantee of profit and accepts no liability for any loss arising from use of this script. You are solely responsible for your trading decisions. Consult a SEBI-registered investment adviser or a qualified professional before trading. Use of this script means you accept these terms.Script by Sanjay Dewan.