Description:
Type: Oscillator.
What it is based on: price movement inside the overbought/oversold channel (based on ATR)
Functional:
1) Shows two signal lines that determine the price movement within the overbought / oversold channel (slow and fast lines, ema)
2) Shows the direction of the trend, filtering flat movements (the fast one crosses the slow one from the bottom up - a bullish trend, from top to bottom - a bearish trend. If the distance between the fast and slow moving averages is small, the indicator considers this to be a flat movement)
3) The green signal line crosses the red one from top to bottom in the presence of a red background - a short signal
4) The green signal line crosses the red one from the bottom up in the presence of a green background - a long signal
5) Signal lines crossing the upper border of the channel = strong overbought, you can wait for the background to change and go short (overbought, this is the price going beyond the average true range)
6) Signal lines crossing the lower border of the channel = strong oversold, you can wait for the background to change and go long (oversold is going beyond the average true range)
7) It is possible to create alerts for the presence of a bullish or bearish trend, which is shown in the corresponding color on the indicator (red = bearish, green = bullish)
8) There is additional highlighting, which indicates the appearance of large volumes, which can push the price further towards the trend (large volumes are determined by the divergence between two ema: slow and fast)
Type: Oscillator.
What it is based on: price movement inside the overbought/oversold channel (based on ATR)
Functional:
1) Shows two signal lines that determine the price movement within the overbought / oversold channel (slow and fast lines, ema)
2) Shows the direction of the trend, filtering flat movements (the fast one crosses the slow one from the bottom up - a bullish trend, from top to bottom - a bearish trend. If the distance between the fast and slow moving averages is small, the indicator considers this to be a flat movement)
3) The green signal line crosses the red one from top to bottom in the presence of a red background - a short signal
4) The green signal line crosses the red one from the bottom up in the presence of a green background - a long signal
5) Signal lines crossing the upper border of the channel = strong overbought, you can wait for the background to change and go short (overbought, this is the price going beyond the average true range)
6) Signal lines crossing the lower border of the channel = strong oversold, you can wait for the background to change and go long (oversold is going beyond the average true range)
7) It is possible to create alerts for the presence of a bullish or bearish trend, which is shown in the corresponding color on the indicator (red = bearish, green = bullish)
8) There is additional highlighting, which indicates the appearance of large volumes, which can push the price further towards the trend (large volumes are determined by the divergence between two ema: slow and fast)
Versionsinformation:
added alerts: "Bull Strong Trend" and "Bear Strong Trend"
Versionsinformation:
added Long/Short data for data_window (Long = 1, Short = -1)
Versionsinformation:
added the ability to select a timeframe