PROTECTED SOURCE SCRIPT
The OG Outback [TTF]
The Outback indicator
After a major overhaul of our Outback strategy, we decided that we would make our original version available for anyone to use.
The fundamental element of this indicator is based on price action relative to a slow moving average. That said, given that price will always tend towards a moving average, we have also implemented a method for helping filter out false signals leveraging a "consolidation cloud" and fast moving average. This, coupled with references to a customized version of the Relative Strength Index (RSI), has enabled us to provide significantly higher quality signals relating to price crossing a moving average.
Note: For this version, we have only prepared a single set of conditions and alerts (as noted by the 🦘 symbols). However it's worth noting there are several variations that can be done with some fundamental technical analysis and referencing additional indicators that can take this foundation and build upon it for a substantial increase in risk/reward and profit targets.
After a major overhaul of our Outback strategy, we decided that we would make our original version available for anyone to use.
The fundamental element of this indicator is based on price action relative to a slow moving average. That said, given that price will always tend towards a moving average, we have also implemented a method for helping filter out false signals leveraging a "consolidation cloud" and fast moving average. This, coupled with references to a customized version of the Relative Strength Index (RSI), has enabled us to provide significantly higher quality signals relating to price crossing a moving average.
Note: For this version, we have only prepared a single set of conditions and alerts (as noted by the 🦘 symbols). However it's worth noting there are several variations that can be done with some fundamental technical analysis and referencing additional indicators that can take this foundation and build upon it for a substantial increase in risk/reward and profit targets.
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