Reversal signals were done by modifying the and and combining them in a unique way to find explosive price actions. These have been modified to provide signals at the bottom or top of a trend to catch price reversals and to improve margin of safety on trades. These signals are labeled as “Long” and “Short”.
We also added automatic zones to increase the accuracy of the “Long” and “Short” signals. This was done by using historical price action of highs and lows and periods of consolidation where price reversed.
The trend signals, which are labeled as “Bull” and “Bear” signals use a combination of exponential moving averages. These signals can be used as trend continuations.
We also added an cloud to help traders easily visualize trend. This can be used as a guide to help you stay in a trade to maximize profits. It can also be used as a guide to get out of a trade if price breaks out of the cloud. The third use of the cloud can be used as support resistance in between high/low zones.
- Only take long/short signals when there is a support or formed at or near the long/short signal, preferably within 1-3 bars of the support or . Signals too far from "Long" or "Short" signals reduces your margin of safety.
- When in a Long or Short position, use support or resistance zones as a stop loss level as price is likely to go against the position.
- When taking a Long/Short or Bull/Bear signal, wait for candles to be completed to get best entry possible.
- Previous support zones can be used as resistance zones and previous resistance zones can be used as support zones.
- The (SR) period can be adjusted. Numbers in the SR settings are bars looking back. For example, a setting of 10, looks back 10 bars.
1. Multi time frame support and resistance zones. You can now use longer time frame resistance zones on shorter time frame charts.
2. There are now three support and resistance zones. The first one is on by default and second and third are off by default.
- My preferred settings for SR 2 is one hour with a 10 period
- My preferred setting for SR 3 is daily with a period of 8
Unusual Volume will have a start above or below the candle.
1. Unusual Volume with a "Long" signal near a resistance could be a bull trap
2. Unusual Volume with a "Short" signal near a support could be a bear trap
3. In the settings, you have the option to choose to be able to view unusual volume without the algo signals. Just uncheck the "Only with Signals" box
4. The multiplier increases the volume condition to trigger signals. On shorter time frames, such as 5 minute and 15 minute, a multiplier between 4-6 is recommended
Tillgången till detta skript är begränsat till användare som har godkänts av författaren och kräver vanligtvis betalning. Du kan lägga till det till dina favoriter men du kan bara använda det efter att ha begärt och fått författarens tillstånd. Kontakta RichPenny23 för mer information eller följ författarens instruktioner här under.
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For access, please email: ClutchAlgo@clutch-capital.com
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