Purpose: Mathematically represent buying and selling zones for Daily/ Weekly Traders Indicator: Calculates moving average of the candle's body with respect to the daily trading range Buy and Sell Signals: Calculates Bollinger Range with Max/Min and Buy/Sell Bollinger signals Overbought and Oversold Signals: Candlesticks show overbought and oversold conditions Level of Difficulty: This indicator was written to make life easier. Follow the Rules and anyone can use it.
Rule 1: Buy when candlestick is below "purple" line Rule 2: Sell when candlestick is above "blue" line Rule 3: Add bollinger bands to your currency chart [not included] Rule 4: Confirm indicator bollinger bands with currency chart's bollinger bands Rule 5: Trade in direction of trend Rule 6: As with all trading; no indicators are fool proof. Please trade responsibly.
****Full Customization for you**** Suggestion 1: Add bollinger bands to currency chart[not included] to improve probability Suggestion 2: Trade the direction of Trend Suggestion 3: This indicator works very well with Ranged Markets (or use Suggestion 2) Disclaimer 1: This Indicator words best on Daily and Weekly time frames Disclaimer 2: Enjoy the Indicator and feel free to ADD COMMENTS; I worked very hard for you and me :)
Commenti
mansingn
⋅
I would say I have found this indicator more useful for buy and sell ( oversold purple ) I buy it and ( oversold cyan ) I sell It I have different strategy with vwap and believe me so far it’s 100 % winning ratio . Purple candle give me information for aggressive buyers and every time I took profit . Not even one loss with this . I would like to talk to you how do I do it so you can also use it in right way I must say .
Hociemocie
⋅
@mansingn, would love to know what you are doing to optimize!
maybach47
⋅
Awesome job TheBulltrader, thanks for sharing
TheBulltrader
⋅
@maybach47, Thanks! I'm super psych'd about this indicator. I'm trading this indicator longterm. It'll take me several months to get enough data for percent win rate and percent P/L but I'll update everyone on my progress whether good or bad :)
It I have different strategy with vwap and believe me so far it’s 100 % winning ratio . Purple candle give me information for aggressive buyers and every time I took profit . Not even one loss with this . I would like to talk to you how do I do it so you can also use it in right way I must say .