ROAD TO DUBAI Useful for daily trading over all type of asset, from Stock to Crypto, Forex and Commodities. It works best with 5min to 1hr graphs, if you are a intraday trader. This is not a simple mashup of indicators, because you can add them as your own. This script is more like a tool to understand price action based on indicators position. Thanks to cross call based on MACD , RSI with EMA applied and few index realtime mapping, this tool will let you reduce time effort for graph analysis. As extra feature it will let you to try different strategies, all fully customizable.
I've tried my best to keep it readble, and easy to use. The best way to learn to use it, is to disable all features from configuration and try one by one. CONFIGURATION TIPS : Click "Settings Gear" in the Upper Right Corner and disable "Indicator Arguments"
HOW TO PROPER SETUP Road to Dubai 3 is semiautomatic on finding best Long and Short areas, and plot on the chart. From configuration menu you can set a Backtrace period and sensibility for RSI EMA10, RSI EMA80 and MACD on your Timeframe, 5min, 30min, 60min. Usually when configured, those parameters works fine on almost every asset. You only need to start understanding signals.
STANDARD FEATURES VWAP : Green/Red line. It will reset everyday at 00.00. EMA80 : White Line BLUELINES : Positive and negative overextend value from VWap . This is based on a range of bar and it will extend on the opposite side the lower or higher candle. Useful for understading where price can arrive, expecially if a spike will appear. Those indicators are quite useful for understading trends, price positions and maximum price range.
RSI EMA10 OVERBOUGHT / OVERSOLD Yellow arrow marks where RSI arrived at his Top or Bottom. If on different timeframes (5min, 30min and 60min) something similar happen area is filled with Red or Green. This is base on EMA10 applied to RSI (I usually refer at it as Yellow Line on my indicator HighFreq Trader) To find good values please try High Freq Trader 1.3
RSI EMA80 CALL Red Cross or Green Square advice for a really potential inversion of trend. When a Silver bar appear, this means the same call was triggered on different Timeframe in the sametime. This is based on EMA80 applied to RSI (I usually refer at it as Blue Line on my indicator HighFreq Trader). To find good values please try High Freq Trader 1.3
MACD CALL Based on MACD with standard settings. When triggered, a lime Triangle appears. Differents size based on timeframe (5min smaller, 60min bigger). If the same call is triggered on the same place a Lime Bar appear on the opposite side of trend (this is a graphical contents, bacause with all enabled, standard use, can be difficult to read signals). In Menu Settings you will be able to set your best parameter for your asset.
MACD FIBONACCI EXTRA FEATURE If you want you can enable a Fibonacci draw based on MACD . This works at his best (on my opinion) with 30min MACD
EXAMPLE NATURAL GAS In this chart 30min you can see all calls triggered for a Short. Yellow RSI Arrow, Red Cross, Macd Triangle and Colored Red, Lime and Silver Bars are all calling for Short. In this way you can see in notime if this can be a perfect moment for take position
VIX VXN DXY CALLS If VIX , VXN is triggered a small Green Dot will appear. If both are in the same time a bigger Dot appear. Very useful to find trend inversion. If DXY is triggered a Red Dot will appear (only on Daily Chart ). Very Useful to understand trend inversion on whole market.
VOLUMES REMINDERS Find if there was an High Volume traded (HV) or Low Volume Traded (LV) in the near past. Useful to understand if some tricky situation could happen (like a sudden sell, an accumulation or distribution)