The base code for this indicator was created by RicardoSantos What I added is a signal line that indicates when to buy and when to sell.
Advised use : Combine with a zero-lag indicator like ZeroLagEMA_LB by LazyBear (suggested period = 34) Then use the following Rules of engagement : Current price > ZLEMA & Signal line of BBP_NM is green : BUY Current price < ZLEMA & Signal line of BBP_NM is red : SELL Please click the like button if you dig this indicator !
Hi, Is this a term " RS " in your indicator is "Relative Strength"? If it is, then which is the Index by default? Can I use it on India "NSE:NIFTY 50" index? or Indian stocks? RS is the term used when the script is out or under performing the index. In this case, if we consider Apple is out perform Nasdaq 100 then the Signal line is above Zero. And if Apple is under performing the Index i.e Nasdaq 100 the Signal line is below the Zero. Am I understanding the right? Then, if indicator has a SPX / Nasdq 100 or DOW30 is default Index, then the indicator can not be used in other markets. Like India/Europe etc. Can you please elaborate on this? I must say, this is very good indicator. Really appreciate your efforts. Thank you. 👍👍👍 (India)
syracusepro
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On trying to learn this language, what the n stands for, also the symbol => on the following piece of code: f_exp_lr(_height, _length)=>
_ret = _height + (_height/_length). Thanks.
Nico.Muselle
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@syracusepro, sorry for the late reply
n returns the bar number (a built-in variable
the => symbol declares f_exp_lr as a function that requires 2 parameters, height and length and using those parameters calculates the return (_ret) using the formula height + (_height/_length)
This allows to create the calculation formula only once and use it with different parameters throughout the scripts as you can see :
bear = 0-f_exp_lr(h_value-close, n-h_bar)
bull = 0+f_exp_lr(close-l_value, n-l_bar)
hope this helps ... and again sorry for the (very) late reply
fabfoot
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I have used this indicator on the 1 min and 5 min time period trading Binary options and it is performing well for me. Give it a try!
Nico.Muselle
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Hey, thanks for your feedback. Good to hear some success stories ! Make sure to try out the improved v02 :)
RUSKY1
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@Nico.Muselle, hi niko,just saw a comment of fabfoot, says he uses on binary,but, how to know expiry time?
RUSKY
Nico.Muselle
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@RUSKY1, thanks for your visit and your question, unfortunately I don't have any experience using it for Binary options, as like you are saying there is also the matter of time. I hope @fabfoot can shine a light on this
@fabfoot, hi fabfoot,you said you used on binary and it did well, but, what expiry do you put.
Looks more for forex so,anyway, hope you give me the expiry time.
Thanks