Algorex
Introduction
We at Algorex have developed a Non-Repaint indicator to identify tops and bottoms. It uses a pattern found in historical tops and bottoms. We found this pattern through quantitative research and trial and error.
What?
The pattern is simple yet effective. It follows a fibonacci like sequence and only uses OHLC values. We don’t use any trend identification or third party indicators, since the pattern itself weeds out bad signals by itself. A skeleton of what the pattern looks like:
If:
Settings
Symbols and timeframes we have found success with (works on lower an higher timeframes):
Features include:
Parameters:
How?
It is up to you how to incorporate this indicator. We use it as an extra confluence on top of our trading with good results. This indicator was developed as to free up more time from the charts. Message me for more questions on how to incorporate it in you trading.
Instructions
A down arrow indicates a potential sell setup and an up arrow indicates a potential buy setup.
If you want access to this script contact me by clicking on the link below!
Past performance is no guarantee of future results
We at Algorex have developed a Non-Repaint indicator to identify tops and bottoms. It uses a pattern found in historical tops and bottoms. We found this pattern through quantitative research and trial and error.
What?
The pattern is simple yet effective. It follows a fibonacci like sequence and only uses OHLC values. We don’t use any trend identification or third party indicators, since the pattern itself weeds out bad signals by itself. A skeleton of what the pattern looks like:
If:
- Candle (O/H/L/C) is (LOWER/HIGHER) than candle (O/H/L/C) of X candles ago
- …
Settings
Symbols and timeframes we have found success with (works on lower an higher timeframes):
- EURCAD 3h
- XAUUSD 4h
- GBPJPY 4h
- ...
Features include:
- Arrow indicator
- Alerts
Parameters:
- Change signal icon
How?
It is up to you how to incorporate this indicator. We use it as an extra confluence on top of our trading with good results. This indicator was developed as to free up more time from the charts. Message me for more questions on how to incorporate it in you trading.
Instructions
A down arrow indicates a potential sell setup and an up arrow indicates a potential buy setup.
If you want access to this script contact me by clicking on the link below!
Past performance is no guarantee of future results
Versionsinformation:
This update doesn't change anything to the existing indicator, it only adds on top.
New Feature
We added a new feature called 'Signal heads up', this feature will display a dialogue box at the most right of your chart. In this box it will say:
We think this is a great addition to the indicator, because this way you can prepare your trades better.
Beware! if its says possible signal it doesn't mean there will be one in x bars!
New Feature
We added a new feature called 'Signal heads up', this feature will display a dialogue box at the most right of your chart. In this box it will say:
- Possible buy signal in x bars
- Possible sell signal in y bars
We think this is a great addition to the indicator, because this way you can prepare your trades better.
Beware! if its says possible signal it doesn't mean there will be one in x bars!
