Katz Calypso Indicator (Refactored)

Overview
The Katz Calypso Indicator is a comprehensive momentum oscillator designed to identify potential entry and exit points in the market. At its core, it uses the True Strength Index (TSI) to gauge the strength and direction of a trend. To enhance signal accuracy and reduce false positives, the indicator integrates several optional filters, including the Waddah Attar Explosion, an EMA filter, and an ATR filter. It also provides an optional RVGI-based exit signal system.

This tool is designed to provide a clear, visual representation of market momentum, with customizable filters to adapt to various trading styles and market conditions.

How to Use the Indicator
The indicator is displayed in a separate pane below the main price chart.

TSI Line (Blue): This is the main oscillator line. Its position relative to the zero line indicates the overall trend bias (above 0 is bullish, below is bearish).

Signal Line (Red): A moving average of the TSI line. Crossovers between the TSI and Signal Line are the primary triggers for trade signals.

Zero Line: The centerline of the oscillator. A cross of the Zero Line can indicate a significant shift in momentum.

Overbought/Oversold Levels: These user-defined levels (defaulting to 65 and -65) help identify potential exhaustion points in a trend, which can be used for taking profits.

On-Chart Signals: The indicator plots shapes directly on the chart to make signals easy to spot:

Green Triangles (Up): Indicate long entry or continuation signals.

Red Triangles (Down): Indicate short entry or continuation signals.

Yellow Triangles: Suggest taking profits.

Maroon/Lime Triangles: Indicate an exit based on a signal cross (like RVGI or the Zero Line).

Trading Rules
Long Trade Rules
Entry: A long trade is signaled when ALL of the following conditions are met:

The blue TSI Line crosses above the red Signal Line.

The blue TSI Line is above the 0 Zero Line.

All enabled filters (Waddah Attar, EMA, ATR) confirm bullish conditions.

A green triangle labeled "Long" will appear below the price.

Exit (Take Profit): A take-profit signal for a long trade is generated when either of these occurs:

The TSI Line crosses below the Overbought level.

The TSI Line crosses back below the Signal Line while still above zero.

A yellow triangle labeled "TPL" (Take Profit Long) will appear above the price.

Exit (Stop/Reverse): A signal to exit a long trade is generated when either of these occurs:

The TSI Line crosses below the 0 Zero Line.

The RVGI Exit filter is enabled and generates a bearish crossover signal.

A maroon triangle labeled "Exit Long" will appear above the price.

Short Trade Rules
Entry: A short trade is signaled when ALL of the following conditions are met:

The blue TSI Line crosses below the red Signal Line.

The blue TSI Line is below the 0 Zero Line.

All enabled filters (Waddah Attar, EMA, ATR) confirm bearish conditions.

A red triangle labeled "Short" will appear above the price.

Exit (Take Profit): A take-profit signal for a short trade is generated when either of these occurs:

The TSI Line crosses above the Oversold level.

The TSI Line crosses back above the Signal Line while still below zero.

A yellow triangle labeled "TPS" (Take Profit Short) will appear below the price.

Exit (Stop/Reverse): A signal to exit a short trade is generated when either of these occurs:

The TSI Line crosses above the 0 Zero Line.

The RVGI Exit filter is enabled and generates a bullish crossover signal.

A lime green triangle labeled "Exit Short" will appear below the price.

Optional Filters
You can enable or disable these filters in the indicator's settings to fine-tune its sensitivity.

Waddah Attar Explosion Filter: This filter measures trend strength and volatility. When enabled, it ensures that entries are only taken during periods of strong, confirmed momentum, helping to avoid sideways or choppy markets.

EMA Price Filter: A classic trend filter. When enabled, it will only allow long entries if the price is above the specified Exponential Moving Average and short entries only if the price is below it.

ATR Filter: This acts as a volatility-based filter to prevent chasing a move. It helps ensure that you are not entering a long trade when the price has already moved too far above its EMA, or vice-versa for a short trade.

RVGI Exit Filter: The Relative Vigor Index (RVGI) is used here exclusively as an exit signal. When enabled, a crossover of the RVGI and its signal line can provide an earlier exit signal before the TSI crosses the zero line, potentially locking in profits sooner.

Disclaimer: This indicator is provided for educational and informational purposes only. It is not financial advice. Trading carries a high level of risk, and you can lose more than your initial investment. You should use this indicator at your own risk and discretion. Always conduct your own research and consider your risk tolerance before making any trading decisions.