Day Trader's Edge Companion - D Johnson
Day Trader's Edge Companion is the free companion indicator to the book "The Day Trader's Edge" by D. Johnson. It puts the book's rules-based workflow on your intraday chart. You don't need the book to use it, but the book explains the thinking behind each part.
It does not predict price and it is not a buy/sell signal generator. It is a process and risk tool: it shows what the market is doing, flags when a defined pattern's conditions are present, and runs a pre-trade checklist so that sizing, costs and limits are checked every time.
WHAT IT SHOWS
- Market mode: trend up, trend down or range, from ADX, directional movement and price against a moving average.
- Higher-timeframe direction, taken from the last completed higher-timeframe bar so it does not repaint.
- Daily-anchored VWAP with a one standard deviation band, the opening range of your trading window, and the prior day's high and low.
- Volume against its own average, and any gap against the prior daily ATR.
- Four pattern flags, drawn only on completed bars: opening range breakout (ORB), trend pullback (PB), VWAP reversion (VR) and failed breakout of the prior-day high or low (FB).
- A planned stop (ATR multiple, recent swing, or opening range midpoint) with two targets in R.
- Position size from your account size, risk percentage and stop distance, plus position value against your account.
- Trading cost expressed in R, from a cost per unit that you enter.
- A seven-point pre-trade checklist: direction and higher-timeframe agreement, trading window, volume, cost relative to the stop, net reward-to-risk, daily limits and break rule, and position size fit.
HOW IT CONNECTS TO THE BOOK
The setups, the R-multiple language, the position-sizing method and the pre-trade checklist follow the ones taught in the book, which is why the flags and dashboard use the same names. Chapter 16 explains how to set the indicator up and how to use it alongside your trading plan.
HOW TO USE IT
Add it to an intraday chart (1 to 30 minutes). Open the settings and enter your own
It does not predict price and it is not a buy/sell signal generator. It is a process and risk tool: it shows what the market is doing, flags when a defined pattern's conditions are present, and runs a pre-trade checklist so that sizing, costs and limits are checked every time.
WHAT IT SHOWS
- Market mode: trend up, trend down or range, from ADX, directional movement and price against a moving average.
- Higher-timeframe direction, taken from the last completed higher-timeframe bar so it does not repaint.
- Daily-anchored VWAP with a one standard deviation band, the opening range of your trading window, and the prior day's high and low.
- Volume against its own average, and any gap against the prior daily ATR.
- Four pattern flags, drawn only on completed bars: opening range breakout (ORB), trend pullback (PB), VWAP reversion (VR) and failed breakout of the prior-day high or low (FB).
- A planned stop (ATR multiple, recent swing, or opening range midpoint) with two targets in R.
- Position size from your account size, risk percentage and stop distance, plus position value against your account.
- Trading cost expressed in R, from a cost per unit that you enter.
- A seven-point pre-trade checklist: direction and higher-timeframe agreement, trading window, volume, cost relative to the stop, net reward-to-risk, daily limits and break rule, and position size fit.
HOW IT CONNECTS TO THE BOOK
The setups, the R-multiple language, the position-sizing method and the pre-trade checklist follow the ones taught in the book, which is why the flags and dashboard use the same names. Chapter 16 explains how to set the indicator up and how to use it alongside your trading plan.
HOW TO USE IT
Add it to an intraday chart (1 to 30 minutes). Open the settings and enter your own
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。