DepthHouse Envelope Oscillator is designed to show dynamic support and resistance, along with possible over extension.
The indicator has two main functions. The Standard function (top) and the Shifted function (bottom).
The Standard Function: The oscillators outermost edges represent dynamic support and resistance. These points can often represent excellent buy and sell opportunities. Especially in a ranging market. Anything below or above these lines often represent a possible breakout or overexertion in either direction. The Shift Function: This works very similar to the standard function, however this actually offsets the calculations x to the right. This can be an excellent tool for breakout traders. In many breakouts, the horizontal lines actually shift from resistance to support, and visa versa depending on trend direction. With this function enabled, the user can designate the position of the horizontal lines, which adjusts the buy sell signals in the middle as well. Signals Beta: Both functions give possible buy and sell signals shown by the circles in the middle. The strength of the signal is shown by the circle size. The larger the circle, the stronger the signal. This feature is in beta testing is not advised to trade off of.
How to get: As you can see this is an invite only script. In the coming months this indicator, along with many others will become pay to use only. (website on my profile page) However all my indicators will be FREE until AT LEAST May of 2018. So please try them out! To take advantage of this FREE trial 1. Subscribe to my YouTube channel. I have many more videos to come! Maybe even leave a comment of what you would like to see next! youtube.com/channel/UCqAk6dyIxe9fhVe8AIxph_g 2. Comment on this indicator post! Maybe even give me a follow :D
Hey oh92, have had your ideas page bookmarked for many months now! I've also subbed to your youtube and followed, could you grant access please? Thanks :)
Hi...this lookd pretty nice...can I test drive it? So, when you mention "user designate position" of horizontal lines of the shift func, in a way its like me as a user is able to increase/decrease the threshold of the beta signal outocome?
oh92
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@ajmzfx, correct. however this only applies when the "shifted" option is enabled. enjoy!