Entery signal: When line color turns to lime (lighter green) after a blue dot appears
Exit signal: When line color turns to red (darker red) after a red dot appears
Note: it is more affective as an entry signal (Bottom is stronger)
- When line touches or crosses red band it is Top signal (Williams Fix)
- When line touches or crosses blue band it is Bottom signal (Williams Fix)
- Red dot at the top of indicator is a Top signal ( )
- Blue dot at the top of indicator is a Bottom signal ( )
- Gray dot at the bottom of indicator is a Squeeze signal (filtered by either or %B)
- Silver dot at the bottom of indicator is a weaker Squeeze signal (Doesn't meet either or %B filter)
- Purple is a 'Half Squeeze' only 1 crossed the Channel
This is an attempt to make use of the main features of all 6 of these tools:
- Williams Fix +
- (detects Fix starts to rise or fall to a certain degree in order to help validate bottom/top)
Note : There is also added precision on entry by dividing WVF by square roots of basis.
- The crossing of Channel by the (Squeeze)
Conditions to Help Filter Squeeze:
- When the ( ) value is lower than the lowest value within a period plus a margin of error (percentage)
- When the %B value goes up or down by the impulse value (threshold value in setting) detailed in LazyBears indicator. (https://www.tradingview.com/script/2gNjW...)
If it meets one of these 2 filters and there is a Channel Squeeze than gray color or else if the squeeze doesn’t meet one of the 2 filters than silver color (weaker Squeeze).
The goal is to find the best tool to find bottoms and top relative to and filter squeeze.
Note: You can also change the threshold for RVI top and bottom.
And this work builds on my last indicators:
- Williams Fix + BB & RVI (Top/Bottom) & Squeeze (https://www.tradingview.com/script/vazpn...)
- Williams Fix BB + RVI & Squeeze ( ) filtered + %B (https://www.tradingview.com/script/FOb64...)
If you have ideas on this work or have ideas on potential combinations please message me, I always want to learn or get perspective on how it can be improved.
Sharing is how we get better (Parameter tuning, ideas, discussion)
I don’t reinvent the wheel, just trying to make the wheel better.
So now the Linear Regression (Vix Fix rise/fall) is smoothed with a Hull MA.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.