Killer Bands v1
This indicator helps you identify trend and reverse points by simple price action with main MA:
1) MA is blue, when the price is beyond the MA ( uptrend )
2) MA is red, when the price is under the MA ( downtrend )
Reccomend to use RMA(SMMA) as smoothing method, because with you will find trends most percent of the time. Just found that this type of smoothing works better than others.
ATR bands are calculated based on ATR of the N bars before and multiplied by one of the Fibonacci numbers. Just found that bands excatly with 2.618 and 3.618 are more accurate and show often enough good signals:
1) When prices hits one of the blue borders(upper blue border shows more accurate signals, of course), it is a good signal for SELL.
2) When price hits one of the red borders(lower red border show more accurate signals, which appear less often that the ones from upper red border, of course), it is a good signal to BUY.
Nice signals:
1) When price hits one of the red borders and then goes beyond main MA, then it is probably a very good time to BUY.
2) When price hits of the blue borders and then goes under main MA, then it is perhaps a good time to SELL.
Better using this thing with other indicators for better confirmation. Hope you will find it useful.
Feel free to give feedback and critique. Good luck!
1) MA is blue, when the price is beyond the MA ( uptrend )
2) MA is red, when the price is under the MA ( downtrend )
Reccomend to use RMA(SMMA) as smoothing method, because with you will find trends most percent of the time. Just found that this type of smoothing works better than others.
ATR bands are calculated based on ATR of the N bars before and multiplied by one of the Fibonacci numbers. Just found that bands excatly with 2.618 and 3.618 are more accurate and show often enough good signals:
1) When prices hits one of the blue borders(upper blue border shows more accurate signals, of course), it is a good signal for SELL.
2) When price hits one of the red borders(lower red border show more accurate signals, which appear less often that the ones from upper red border, of course), it is a good signal to BUY.
Nice signals:
1) When price hits one of the red borders and then goes beyond main MA, then it is probably a very good time to BUY.
2) When price hits of the blue borders and then goes under main MA, then it is perhaps a good time to SELL.
Better using this thing with other indicators for better confirmation. Hope you will find it useful.
Feel free to give feedback and critique. Good luck!
Versionsinformation:
Shorttitle change.
Versionsinformation:
Deleted standard deviation variable for better perfomance, check it out.