by Coondawg71 » Wed Jul 23, 2014 12:53 pm
Can we please request a Signal Alert and corresponding Strategy for Zmender's version (Trend Indicator.lua) of the Bulls/Bears indicator?
On a default setting for a One hour price chart, the indicator would have 3 time periods in reference to specific trading periods. 24, 72 and 144. One Day, Three Days, One Week in hours.
Concept is based on the principle of trading on A.) the divergence of short term momentum from the larger momentum cycle and B.) Confluence of momentum cycle exhaustion.
BUY SIGNAL
IF 144 period <0, IF 72 period <0, when 24 period >0 (close of first bar above 0 line) Signal Alert "BUY WAVE1"
IF 144 period <0, when 72 period >0, and 24 period >0 (close of first bar above 0 line) Signal Alert "BUY WAVE2"
When 144 period >0, and 72 period >0, and 24 period >0 (close of first bar above 0 line) Signal Alert "BUY WAVE3"
When 144 period is greater than 0.90 and 24 period <0 CLOSE BUY orders on first close price below O line
SELL SIGNAL:
IF 144 period >0, IF 72 period >0, when 24 period <0 (close of first bar below 0 line) Signal Alert "SELL WAVE1"
IF 144 period >0, when 72 period <0, and 24 period <0 (close of first bar below 0 line) Signal Alert "SELL WAVE2"
When 144 period <0, and 72 period <0, and 24 period <0 (close of first bar below 0 line) Signal Alert "SELL WAVE3"
When 144 period is less than negative 0.90 and 24 period >0 CLOSE SELL orders on first close price above O line
Green Arrow UP located on price chart below each BUY signal.
Red Arrow DOWN located on price chart above each SELL signal.
Default font size of arrow set at 10.
DIVERGENCE SIGNALS
IF 144 period and 72 period >0 and 24 period value is Negative "0.75" Signal Alert "Divergence/BUY" ((negative 0.75 to negative 1.00))
IF 144 period and 72 period <0 and 24 period value is Positive "0.75" Signal Alert "Divergence/SELL" ((positive 0.75 to positive 1.00))
Light Blue Arrow UP located on price chart below each Divergence BUY signal.
Yellow Arrow DOWN located on price chart above each Divergence SELL signal.
Default font size of arrow set at 8.
CONFLUENCE SIGNALS
IF 144>0 when 72 period and 24 period are greater than positive 0.75, Signal Alert POSITIVE CONFLUENCE SELL short term cycle exhaustion
IF 144>0 when 144 period and 72 period are greater than positive 0.90, Signal Alert POSITIVE CONFLUENCE STRONG SELL long term cycle exhaustion
IF 144<0 when 72 period and 24 period are less than negative 0.75, Signal Alert NEGATIVE CONFLUENCE BUY short term cycle exhaustion
IF 144<0 when 144 period and 72 period are less than negative 0.90, Signal Alert NEGATIVE CONFLUENCE STRONG BUY long term cycle exhaustion
NOTE: Please allow user to change Signal threshold parameters from default settings of +-0.75 and +-0.90 to within the range of +-0.50 to +-1.00
Thanks!
sjc