This is a modified Stochastic indicator. Modifications include:
1. The output is now centered on "0" and the scale is from -50 to +50, so that histograms and columns can be used to plot the output. 2. Added visual trade setup triggers. A trigger to the up side is a cycle high and indicates a "sell signal". A trigger to the down side is a cycle low and indicates a "buy" signal. 3. Added an alert trigger to be used to setup alerts. Selecting "Alert" to be Greater Than (>) Value = 0.00 will trigger an alert if either the buy or sell triggers occur. 4. Added a force indicator output. This indicates the rate of change in "D", or mathematically "dD/dt", as was done in the Power Analyzer indicator. When Force and D are in-phase, the maximum power is achieved. 5. Added "Slow Average Momentum" and "Slow Average Force" as was done in the Power Analyzer indicator. 6. Added an internal MACD and EMA as part of the trade setup trigger equation. There is a new input variable for the EMA length. 7. Added an input variable for the "Trigger Threshold", which ranges from -50 to 50, to be used as a screening filter.
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Updated trading alerts with new strategy.
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Updated user interface for greater control over the trading signal filters. Download the new companion, "Cycles Strategy" for backtesting.
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Updated buttons: Oct. 9, 2020 1. Revised text at button to enable/disable Higher close and Lower close Filter. 2. Added button to enable/disable %K Threshold filter. Revised text. 3. Revised text for Threshold %K and Threshold %D. These can be disabled by buttons or value settings, but the buttons over-ride the values set. 4. Revised to better match the Cycles Strategy.
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1. Backtested and updated trading signal algorithm. It now compares highs with highs, and lows with lows, and triggers when the candle action breaks above the previous lower high, or breaks below the previous higher low. 2. Updated initialization settings.
Hey man, really likes your script, fits very well for me--- I am new to cycle indicator -- can you explain what is the difference between %D and Average_Force (Market Pressure)??? Thanks a lot.
FXEngineering
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@liuwenjili, The %D is from the Stochastic indicator. It is a smoothed (averaged) version of %K. Average_Force is the Rate of Change (time derivative) of %D.
z3r0day
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thanks excellent script, pairs great with MACD for trading signals. just wondering tho..what's the other indicator you have there..."Parents"...i did a search and nothing comes up. Thanks again!
FXEngineering
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@z3r0day, Thank you. Parents is the MACD with multi-color output for the MACD and Signal lines. It's preset with the Top Dog Trading values, as is the Cycles indicator.