Multi-Timeframe High Low (@JP7FX)Multi-Timeframe High Low Levels (@JP7FX)
This Price Action indicator displays high and low levels from a selected timeframe on your current chart.
These levels COULD represent areas of potential liquidity, providing key price points where traders can target entries, reversals, or continuation trades.
Key Features:
Display high and low levels from a selected timeframe.
Customize line width, colors for high and low levels, and label text color.
Enable or disable the display of high levels, low levels, and labels.
Receive alerts when the price takes out high or low levels.
How to use:
It is important to note that using this indicator on it's own is not advisable. Instead, it should be combined with other tools and analysis for a more comprehensive trading strategy.
Possibly look to use my MTF Supply and Demand Indicator to look for zones to trade from at these levels?
If the price breaks above a high level, you might consider entering a long position, with the expectation that the price will continue to rise. Conversely, if the price breaks below a low level, you may think about entering a short position, anticipating further downward movement.
On the other hand, you can also use high or low levels to look for reversal trades, as these areas can represent attractive liquidity zones.
By identifying these key price points, you could take advantage of potential market reversals and capitalise on new trading opportunities.
Always remember to use this indicator in conjunction with other technical analysis tools for the best results.
Additionally, you can enable alerts to notify you when the price takes out high or low levels, helping you stay informed about significant price movements.
This indicator could be a valuable tool for traders looking to identify key price points for potential trading opportunities.
As always with the markets, Trade Safe :)
在腳本中搜尋"daily"
BTC Performance Table / BTC Seasonality Visualization
This script visualizes Bitcoins "seasonality", in form of a colored table (based on the idea from "BigBangTheory")
The history table shows you which months do statistically perform better/worse in comparison to other months.
How to use this script:
Choose ticker "BLX" ("BraveNewCoin Liquid Index for Bitcoin").
Set the charts time frame to weekly or daily. Tables position on the screen and its colors are configurable.
Table explanation:
Cells show whether a gain or a loss occured from month to month, since BTC came out in 2010.
The price difference, between monthly open and monthly close, determines the cell color (negative -> red, positive -> green).
The year column shows total gain (green) or loss (red) for that particular year.
Each value is presented as a rounded percentage number.
How this script works:
The script calculates the price difference between each monthly and yearly open and close, storing those numbers inside arrays.
Then it populates the table, by using those numbers and doing the cell coloring (there will be a yellow cell, in case no change should occur).
German Short-Description
Prozentuale Übersicht in Tabellenform, der monatlichen, sowie jährlichen, Performance des Bitcoin (basierend auf der Idee von "BigBangTheory").
Hierdurch wird die "Saisonalität" des Bitcoin sichtbar. D.h. welche Monate des Jahres, im Vergleich zu anderen Monaten, statistisch gesehen öfter positiv/negativ schließen.
Zwecks vollständiger Darstellung muss der Ticker "BLX" ("BraveNewCoin Liquid Index for Bitcoin") im weekly oder daily time frame aktiv sein.
MA20 Hi-Lo-Close Magic BandThis is an improvement over my previous MA20 High Low Magic Band, as it keeps a central 20 MA reference point. So it can help find the up from MA20 lows and down from MA20 highs resisted or supported by MA20 average before final entry. Usable in any time frame of choice - 15m, 30m, Hourly or Daily. In the Hourly / Daily time frame, the signal used with the volume data may work in 6/10 events or more ... Happy trading!
Reverse Ehler Instantaneous Trendline - TraderHalaiThis script uses a reverse function of the famous Ehler Instantaneous Trendline to calculate the source price required in order to change from Bullish to bearish
From my analysis, the reverse price does appear to be rather choppy, though it is 100% accurate. This is because Ehler's Instantaneous Trendline tends to remain trending for longer periods of time with above average hold periods.
The main suitability for this would be higher level timeframes, such as Weekly, 5 daily, 3 daily. From my findings Smoothed Heikin Ashi Trend, tends to provide better risk-adjusted returns across most timeframes (Higher return to drawdown ratio)
As I have spent a bit of time getting the reverse function mathematics to work, I decided to publish this as open source for the benefit, scrutiny and for further development by the TradingView community anyways.
Enjoy!
Inflation Adjusted Performance: Ticker/M2 money supplyPlots current ticker / M2 money supply, to give an idea of 'inflation adjusted performance'.
~In the above, see the last decade of bullish equities is not nearly as impressive as it seems when adjusted to account for the FED's money printing.
~Works on all timeframes/ assets; though M2 money supply is daily data release, so not meaningful to plot this on timeframe lower than daily.
~To display on same pane; comment-out line 6 and un-comment line 7; then save, remove and re-add indicator.
~Scale on the right is meaningless; this indicator is just to show/compare the shape of the charts.
Session High Low
This indicator shows Session High Low line and prices.
1: Session range is adjustable based on your timeframe. Nomore confusing timezone settings.
You can choose your timezone then set your Session start and end time.
Script will show you the following session high and low lines which is extendable until next session.
2: All historical lines and price levels are can be partially or fully hidden.
And line colors are adjustable so you can use suitable color on your chart.
Based on session you choose this script can be used as a session break strategy AKA (Asian session break, London session break strategy).
You can create your own trading Session and high lows.
Personally I monitor how price reacts on London session high lows during the NewYork trading session.
In this chart Session starts at 8am (London open) and closes at 12:30 (NewYork open). Script is showing high lows only in this session range.
Always double confirm with your trading style. It's not a Financial advice.
Inputs:
1: Hide history - Hides all historical lines and prices that means you can see only todays session.
2: Show price - Shows price level of session high lows. You can hide price level if you want to see only lines.
3: Session time - You can set your time range of session.
4: Start time - Session start time. You can see vertical line on your chart or you can hide line.
5: End time - Session end time. You can see vertical line on your chart or you can hide line.
6: Line extend time - End of the high low lines. You can draw line until the end of the session or you can draw short line.
7: All line and price colors are optional.
Thank you.
Stock ScreenerThis indicator helps monitoring QQE Mod and RMO of 20 tickers simultaneously.
This indicator shows last 4/8 indicator results of particular ticker.
Left side: 8 last colors of both indicator on current timeframe. Most left is older.
Right side: 4 last colors of both indicator on selected higher timeframe. Most right is newer.
Icon color is QQE Mod.
Background color is RMO color.
This indicator is suitable for daily or swing trade.
Recommended timeframe is 2 Hours, and recommended higher timeframe is Daily.
Liquidity mapLocate institutional daily, weekly, and monthly liquidity intervention zones in an innovative format that allows you to fractalize the degree of trend reversal opportunity across multiple lengths!
Far from the traditional formats to tell you "where's the high/low", we display with this map the grab levels relating to the amplitudes of the measured period.
You can check "show old levels" to backtest these potential fractal reversal areas.
Use the levels that interest you according to your working UT (scalping, intraweek, swing, etc.), or take all the elements into consideration for your trading management :
Confluence the information to optimize your entry and shelter your stop loss under strong levels rejections !
Default parameters are: display high/low weekly & monthly, display liquidities levels in daily.
ATRvsDTR + ADR Zone + SSS50%This Script is to be used for intra day as far as the adr zones. The adr zones are used as support and resistance but also can be used to determine whether the stock is breaking out or not. Also being that the adr zones are calculated using a 5 or 10 day period unless you change the settings, and are set when price opens. It does really help you know whether a stock is moving more than it does on average to me it just signifies its directional. So I added the atr vs dtr so you can see what a stock moves on average versus what it has moved today.
The atr period is calculated based on the daily period unless you change the settings. I added to the original script 3 more percentages the atr vs dtr will change as it goes higher so that you can be aware when the stock is getting closer to moving 100% of its atr. Even though a stock breaks above or below the adr that doesn't mean it has moved more than it normally moves.
I also have the weekly open on the script as I trade the strat and I want to know, at what price the the week will change from bearish to bullish and vice versa. So that I can understand the trend when I am trading intraday.
The 50% lines were added for Sara strat snipers 50% rule and you can change the timeframes on them. This is used to know whether a candle will go 3. This also can help with retracements vs reversals, because in traditional technical analysis 50% is around where people start think its a reversal more so than a retracement.
I believe the script will be very help as it can show you price being directional but can also let you know when the stock is getting close to moving more than it normally has or if it has moved more than it normally has. As well as being able to see if something is a retracement vs a reversal. I trade TheStrat strategy so this can be very helpful in that regard
The 50% retracement levels are default 1h and daily. You can change them and whether or not they show
In the example chart you can see we are below weekly open which is bearish and you can also see where price reverses out of the upper adr zone. As well as how much of the atr we have moved on this day in time.
Average D,W,M Range-By AtropineThis is an intraday indicator.
The Average Range is a simple concept, calculated as the difference between highs and lows averages over some period.
This Indicator provides an Average Range of Daily, Weakly, Monthly upper and lower level daily.
It can be useful for helping guide support and resistance , for taking profits and for placing stoploss.
Volume + VolatilityBefore I begin I want to mention:
1. This is a variation of the 'CCI & BB' made by matsu_bitmex (Link: ) and SigmaDraconis's 'On Balance Volume Oscillator + Bollinger Bands' (Link: )
2. While using this sometimes you may not notice the crossover so I've added the Line 'x' outside 'x' BB to only see if Line 3 and 4 crossed over
The indicator:
1. When the background is green and the 2 lines are going up it means uptrend
2. When the background is red and the 2 lines are going down it means downtrend
3. When there is a crossover and the background outside BB turns yellow, it means there is a lot of volatility or volume
How to use (Or how I use this):
1. All trades based on the yellow color MUST be during a trend
2. When the color changes to yellow for the 1st time in the direction of a trend it is advisable to enter
Creentrend Pressure SignalsThe hull moving average is my favorite moving average, as well as slower (55ma Bollinger Bands dev@(1.618)) is my favorite standard deviation indicator. Lets combine the two to evaluate overbought, oversold, and pressure.
Use for all time frames- I PREFER daily.
Bollinger band MA at 55
Hull ma at 55
The Hull is more reactive and faster than any band on the BB (both at 55)
When HULL closes BELOW LOWER BAND- it will print a buy signal, remember- over sold and overbought in VOLATILITY could be dangerous on low time frames, as swift moves typically have short term reversals but return to the main trend eventually, this is why i reccomend daily candles.
When PRICE closes ABOVE UPPER BOLLINGER BAND- it will print a green ^ signal under candle indicating upward pressure.
When HULL closes ABOVE UPPER BOLLINGER BAND- it will print a red resistance line. Complex tops happen a lot with bitcoin so take a 1-5% stop above it if shorting.
Indicador OMEP S============
ENGLISH
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- Description:
This is an upgraded version of my previous indicator "OMEP" (feel free to check my profile to try it).
The OMEP is a momentum oscillator calculated by the combination (average) of RSI , MFI and STOCHASTIC to detect overbought and oversold levels.
The idea that the combination eliminates weaknesses and enhances strengths.
In this upgraded version (OMEP S) a signal line has been added to generate more accurate entry/exit signals, also 2 kind of triggers can be configured for futher customization, default settings have been updated for this version.
Consider the OMEP S as an advanced Stochastic.
- Usage:
You can use it as an RSI / MFI , when the OMEP is in the bottom area is considered OVERSOLD, when is in the upper area is considered OVERBOUGHT.
Thanks to the signal line added to this version you can use any Stochastic strategy aswell, in fact, you can customize visual alerts (background color changes) on crossovers (inside overbought and oversold areas) for faster signals and a more conservative option which shows the alers when both lines have left the area.
- Visual:
For ease of use i've added 3 horizontal lines, which are fully customizable:
Upper line: overbought level.
Mid line: just a reference line but can be used to enter/exit aswell like with some RSI strategies.
Bottom line: oversold level.
The color of the background changes depending on the location of the lines AND the chosen trigger (crossover or zone):
On crossover there're 2 colors for oversold and 2 colors for overbought: green when oversold and lime on crossover inside oversold area, maroon when overbought and red on crossover inside overbought area.
For the area trigger there're 3 colors: first color works the same, but a second light green/light marron shows when the OMEP line has already left the area and then the lime/red when both are out.
Therefore, in this second mode you can think about taking a position when the color starts to become lighter before both lines leave the area.
- Customization:
By default RSI , MFI and STOCHASTIC are hidden, only OMEP and SIGNAL lines are visible, but you can turn on/off and customize colors for any of them too.
Settings for all indicators and their relevance in the average calculation are configurable aswell, default values have been proved to work better on daily with a strategy tester., BUT also on lower timeframes if you take higher ones in mind (e.g. do not buy in 1H if it is overbought in 4H).
- Recommendations:
Higher timeframes are better, 1D is recommended to detect peaks and bottoms, 4H can be used for faster trades.
It was tested on various cryptocurrencies, if you have patience you can just buy the dips (5-10% each position) on daily.
Suggestions are welcome!
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ESPAÑOL
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- Descripción:
Ésta es una versión mejorada de mi anterior indicador "OMEP" (no dudes en echar un ojo a mi perfil para probarlo).
El OMEP es un oscilador de momento calculado por la combinación (media) de RSI , MFI y ESTOCÁSTICO para detectar niveles de sobrecompra y sobreventa.
La idea es que su combinación elimine debilidades y mejore sus fortalezas.
En ésta versión actualizada (OMEP S) se ha añadido una línea de señal para generar puntos de entrada/salida más precisas, también se pueden configurar 2 tipos de señales para una mayor personalización, los ajustes por defecto han sido actualizados para esta versión.
Considera el OMEP S como un Estocástico avanzado.
- Uso:
Se puede utilizar como un RSI / MFI , cuando el OMEP está en la zona inferior se considera SOBREVENDIDO, cuando está en la zona superior se considera SOBRECOMPRADO.
Gracias a la línea de señal añadida a esta versión puedes utilizar cualquier estrategia que aplicarías a un Estocástico, de hecho, puedes personalizar las alertas visuales (cambios de color en el fondo del indicador) en los cruces (dentro de las áreas de sobrecompra y sobreventa) para obtener señales más rápidas y una opción más conservadora que muestra las alertas cuando ambas líneas han abandonado la zona.
- Visual:
Para facilitar el uso he añadido 3 líneas horizontales, que son totalmente personalizables:
Línea superior: nivel de sobrecompra.
Línea media: sólo una línea de referencia, pero se puede utilizar para entrar/salir como como con algunas estrategias RSI .
Línea inferior: nivel de sobreventa.
El color del fondo cambia en función de la ubicación de las líneas Y de la señal elegida (cruce o zona):
En el cruce hay 2 colores para la sobreventa y 2 colores para la sobrecompra: verde cuando hay sobreventa y lima en el cruce dentro de la zona de sobreventa, granate cuando hay sobrecompra y rojo en el cruce dentro de la zona de sobrecompra.
Para la señal área hay 3 colores: el primer color funciona igual, pero un segundo verde claro/granate claro muestra cuando la línea OMEP ya ha salido del área y luego el lima/rojo cuando ambos están fuera.
Por lo tanto, en éste segundo modo puedes ir pensando en tomar una posición cuando el color empieza a tornarse claro antes incluso de que ambas líneas salgan del área.
- Personalización:
Por defecto RSI , MFI y ESTOCÁSTICO están ocultos, sólo la línea OMEP es visible, pero puedes activar/desactivar y personalizar los colores para cualquiera de ellos.
Los ajustes para todos los indicadores y su relevancia en el cálculo de la media son configurables también, los valores por defecto se han demostrado que funcionan mejor en diario con un tester de estrategias, PERO también en los marcos de tiempo más bajos si se tiene en cuenta los superiores (ej: no entres en compra en 1H si en 4H está sobrecomprado).
- Recomendaciones:
Los marcos de tiempo más altos son mejores, 1D se recomienda para detectar suelos y techos, 4H se puede utilizar para operaciones más rápidas.
Fue probado en varias criptomonedas, si tienes paciencia puedes comprar las caídas (5-10% cada posición) en el diario.
¡las sugerencias son bienvenidas!
Indicador OMEP============
ENGLISH
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- Description:
The OMEP is a momentum oscillator calculated by the combination (average) of RSI , MFI and STOCHASTIC to detect overbought and oversold levels.
The idea that the combination eliminates weaknesses and enhances strengths.
- Usage:
You can use it as an RSI / MFI , when the OMEP is in the bottom area is considered OVERSOLD, when is in the upper area is considered OVERBOUGHT.
- Visual:
For ease of use i've added 3 horizontal lines, which are fully customizable:
Upper line: overbought level.
Mid line: just a reference line but can be used to enter/exit aswell like with some RSI strategies.
Bottom line: oversold level.
The color of the line and background changes:
Green: oversold.
Lime: OMEP just left oversold area and triggers an entry/long.
Maroon: overbought.
Red: OMEP just left overboughtarea and triggers an exit/short.
- Customization:
By default RSI , MFI and STOCHASTIC are hidden, only OMEP line is visible, but you can turn on/off and customize colors for any of them too.
Settings for all indicators and their relevance in the average calculation are configurable aswell, but default values have been proved to work better on daily with a strategy tester.
- Recommendations:
Higher timeframes are better 1D is recommended to detect peaks and bottoms, 4H can be used for faster trades.
It was tested on various cryptocurrencies, if you have patience you can just buy the dips (5-10% each position) on daily.
Suggestions are welcome!
============
ESPAÑOL
============
Descripción:
El OMEP es un oscilador de momento calculado por la combinación (media) de RSI , MFI y ESTOCÁSTICO para detectar niveles de sobrecompra y sobreventa.
La idea es que su combinación elimine debilidades y mejore sus fortalezas.
Uso:
Se puede utilizar como un RSI / MFI , cuando el OMEP está en la zona inferior se considera SOBREVENDIDO, cuando está en la zona superior se considera SOBRECOMPRADO.
- Visual:
Para facilitar el uso he añadido 3 líneas horizontales, que son totalmente personalizables:
Línea superior: nivel de sobrecompra.
Línea media: sólo una línea de referencia, pero se puede utilizar para entrar/salir como como con algunas estrategias RSI .
Línea inferior: nivel de sobreventa.
El color de la línea y del fondo cambia:
Verde: sobreventa.
Lima: OMEP acaba de salir de la zona de sobreventa y activa una entrada/long.
Granate: sobrecompra.
Rojo: El OMEP acaba de salir de la zona de sobrecompra y provoca una salida/short.
- Personalización:
Por defecto RSI , MFI y ESTOCÁSTICO están ocultos, sólo la línea OMEP es visible, pero puedes activar/desactivar y personalizar los colores para cualquiera de ellos.
Los ajustes para todos los indicadores y su relevancia en el cálculo de la media son configurables también, pero los valores por defecto han demostrado la mejor efectividad en temporalidad de 1D.
- Recomendaciones:
Las temporalidades mayores son mejores, se recomienda 1D para detectar suelos y techos, en 4H se puede usar para operaciones más rápidas.
Se ha probado en varias criptomonedas, si tienes paciencia puedes comprar los dips (5-10% cada posición) en diario.
¡Las sugerencias son bienvenidas!
Simple Trader - LevelsThis indicator plots the below levels in the chart.
Note: This is not a buy/sell recommendation. Reach Simple Trader to understand how to trade these levels.
Current day open,
Prev. day close,
Prev. day high,
Prev. day low.
Prev. week high,
Prev. week low,
Prev. month high,
Prev. month low.
WMA Combo Crossover V2Before I begin I want to mention:
1. This is an upgrade of my indicator WMA Combo Crossover. (Link: www.tradingview.com)
2. The upgrade was inspired from the CCI and Bollinger Bands indicator by matsu_bitmex. (Link: www.tradingview.com)
3. I have combined the indictor with Bollinger Bands , coloring those sections as yellow, to increase winning trades as well as avoid losing trades by spotting potential reversals with the aid of news avoidance
4. This indicator is designed primarily for NNFX (No Nonsense Forex) though it can be used for any type of trading style
5. Also, I want to thank kurtisbu for helping me out. Thank you!
The indicator:
1. When WMA 25 is blue and is going upwards, it means there is an uptrend
2. When WMA 25 is red and is going down, it means there is a downtrend
3. During a trend, the color may switch to red and blue occasionally. When the color switches back to the direction of the trend, it can be used for re-entries
4. All trades based on the yellow color MUST be during a trend
5. When the color changes to yellow that means price is very volatile and only on the 1st candle is it advisable to enter a trade. (I have not backtested entering on the 2nd candle of a yellow color change)
6. During a trend, when the color changes to yellow and there is an incoming news event, then the chances of a reversal increase and I recommended avoid entering
Ehlers Moving Average Difference Indicator [CC]The Moving Average Difference Indicator was created by John Ehlers (Stocks and Commodities Oct 2021 pg 23) and this is essentially his version of the famous MACD indicator. He calls this indicator the "thinking mans" MACD because his thought process for creating the lengths is based on half of the period of the dominant cycle. These are the default lengths that he created but feel free to test it out with your own variations and please let me know if you come up with a better one. I'm sorry for my long delay from TV. Sometimes I just need to step away and collect my thoughts before I burn myself out with the many scripts I keep publishing daily. I will try to get back into publishing daily again because I have a personal backlog of over 50 scripts ready to go that I haven't published yet. As always I have included strong buy and sell signals in addition to normal ones so darker colors are strong and lighter colors are normal. Buy when the line turns green and sell when it turns red.
Let me know if there are any other scripts you would like to see me publish!
Marked Highs/Lows - Support & ResistanceThis indicator mimics the functionality of marked highs/lows in MarketSmith, a charting tool available from Investor's Business Daily. Marked highs/lows, sometimes referred to as pivot highs/lows, can be used to locate areas of support and resistance. These same points can also be helpful when drawing trendlines and channels.
I've added several customization options that add to the flexibility and overall usefulness of this technical indicator.
Custom Ranges for Marked Highs/Lows
In MarketSmith, a marked high is the highest high going back nine bars and forward nine bars. The number of required bars with lower highs on each side of the high is referred to as the period. The default for the indicator is a nine bar period, however, you can configure the period to fit with your trading style.
View Marked Highs/Lows on Any Timeframe
MarketSmith only supports marked highs/lows on daily charts. With this indicator you can view marked highs/lows on any timeframe.
Suggestions
■ Draw horizontal rays from the most recent marked high and low to help visualize areas of support and resistance.
■ Create a channel to show the current trading range. Draw a trendline across marked highs and a separate trendline across marked lows.
■ Increase the marked high/low periods to find more significant highs and lows.
Multi Range VWAP PivotsMulti Range VWAP Pivots turned out to be one of my most accurate pivot indicators to date!
Multi Range VWAP Pivots works by recognizing the high and low of the timeframe selected (D, W, M, 6M, and 12M) and plotting range high to VWAP averages and range low to VWAP averages.
After further examination of each completed range, I came to the conclusion that due to the nature of averages, high and low respectively would need to be completed within the current range, for the averages to actually display pivots correctly. This means that if all averages appear to be "pivoting" correctly after or during a break lower of higher, then we can only assume the most recent break higher or lower could be exhaustion and price will be reverted to the mean (VWAP). OR, this could be the most accurate hindsight indicator on the planet.
*DISCLAIMER*: This indicator repaints. DO NOT backtest or set alerts with this indicator.
LTB Zigzag CirclesHello All,
Today I am here with a new idea and script, " LTB Zigzag Circles ". The idea is to create Circles using last 2 zigzag waves and to catch the breakouts earlier than horizontal lines. if a circle is broken then the script shows entry for Long/Short positions. and if broken circle reappears again then the position is closed. You can change Zigzag period as you wish and see the different results.
Here you can see how the script calculates and draws the Circles:
Below you can see how the script draws part of the circle on each bar:
Optionally the script can show levels:
P.S. I haven't tested it as a strategy, Result and Performance may change by Zigzag period, you need to find best Zigzag period according to your strategy. By the way, my Zigzag Circles idea can be improved, if you have any recommendation let me know please ;)
Enjoy!
Williams %R Color MapThis script is used to have a quick view for my triple screen trading system.
I use it in 1 hour chart so that the higher timeframe is 5-hour and daily.
Visual for the current price on which fib area of 5-hour and daily chart.
EMA BANDS//Trades have been checked periodically on daily charts with normal, basically, you'll set in trades for weeks, months, and years in some cases depending on the time frame and strategy you use, DO NOT TRADE ON MARGIN INTEREST WILL RUIN YOU.
//You can use the strategies on lower timeframes, however, you'll need to be able to execute trades during all market hours if you choose anything less than a daily.
//You MUST stay in your trade until the very end. that means even if you open the trade and you're super in red DON'T DUMP.
//Set stop losses to no more than 50% of your entry price. Less is better but understand that you may be stomped out of a trade that could reverse after a 40-49% pullback.
//I suggest you pull initial capital out after you 2x to lock in your profit.
//You must also have the ability to sell/buy after market hours, you'll make your trades generally one-two hours post-market in most cases.
//The green line gives a simple average of the last 1618 candles. The further price action is from the mean, the more the price will be pulled back. (Ideally)
//Strategy One (Safe/Slow)
//Buy when the closing price is less than the lower bounds of all bands. This does not include the green "Mean" line
//Sell when the closing price is greater than the upper bounds of all bands. Again, this does not include the green "Mean" line
//Strategy Two (Neutral)
//Buy when the closing price is less than the bounds of 3-4 out of the 4 bands.
//Sell when the closing price is greater than the bounds of 3-4 out of the 4 bands.
//This means that you execute trades even if the closing price is still within one band.
//You'll still execute orders even if the closing price is outside of all bands
//Strategy Three (Least Safe/Fast)
//Buy when the closing price is less than the bounds of 2-4 out of the 4 bands.
//Sell when the closing price is greater than the bounds of 2-4 out of the 4 bands.
//This means that you execute trades even if the closing price is still within two bands.
//You'll still execute orders even if the closing price is outside of all bands
//You'll still execute orders even if the closing price is outside of 3 of 4 bands
WSI FX DashboardThe WSI (Walton Strength Index) is a currency strength tool designed to show you how individual currencies are performing against each other.
It shows strength for 8 of the major currencies: USD, EUR, GBP, JPY, USD, CAD, AUD, NZD
Each of the lines corresponds to a currency, and you can use those readings to determine which currency pairs you would like to trade.
For example, if the EUR is higher than the rest of the currencies and the USD is lower than the rest of the currencies, then you may consider only buying on the EURUSD.
Don't look at this as an "entry mechanism" for placing trades, but rather a filter mechanism to help you determine which currency pairs might be best for a particular trading strategy that you intend to utilize. Once you have selected a currency pair, or set of currency pairs, then you would go to the individual currency pair charts and perform your usual technical analysis.
The Dashboard can be placed on any chart or timeframe. In the inputs you can select the timeframe you would like to use for the WSI calculations.
For example, if you are on a 1 hour chart and want to see a higher level view of the market, you might set the WSI Dashboard timeframe to Daily.
You can also change the WSI Period, which controls how many candles are used to calculate the strength for each currency.
Here is the 200 Period Daily WSI Dashboard:
