TradingWhale - OMEGA Indicator with Trading Signals (premium)
© TradingWhale trading indicators, individually and in combination, are designed to have the following features:
- Minimizing the ‘noise’ of normal price fluctuations of the underlying securities and exposing their natural oscillations and patterns while still providing quick response time at the edge of trend reversals.
-Providing accurate signals for trend-reversals before they happen so traders can maximize profit and reduce risk. To be fully transparent, this can’t always be achieved for every ticker and every time frame.
-Optimizing entry and exit for both long and short positions and thus improving the risk/reward ratio of the trade. We strongly believe in buying into weakness and selling into strength at the point of trend reversal, so we designed indicators with that goal in mind. We urge our users not to underestimate the impact this strategy can have on trading results. It is even more important when trading options and other highly leveraged instruments.
Btw, we would never ask our users to use our indicators with esoteric chart types such as Heikin Ashi, Renko, Kagi, Point & Figure, and Range, which produce unrealistic results. We prefer candles with no wick. Also see our disclaimer at the bottom.
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OMEGA Indicator
The Omega indicator algorithm pulls it all together and adds several useful features, incl. proprietary algos and free available indicators (Hull Moving Average and Multi-Moving Averages). It provides multiple proprietary signal algorithms as well as our AlphaTrend line and AlphaTrend colored bar charts. Alphatrend is not an EMA or other moving average. It reacts faster than EMAs at reversal while at the same time providing accurate trend continuation confirmation.
Benefits
- Proprietary AlphaTrend signal line is fast at reversals yet properly confirms intact trends
- AlphaTrend colored trend candles
- Proprietary Long and Short signals based on a combination of multiple indicators
- Details on how to best apply the signals included in Tooltips (see indicator settings)
- Modify periods for AlphaTrend, Hull MA, SMAs
- Turn signals on /off all at once or individually
- Create predefined Alerts based on signals
- Works for most timeframes
Signals
- AlphaTrend candle colors changing
- Price closing below the AlphaTrend signal line
- 6+ discrete signal algorithms providing up or down signal triangles
- Signals should always be considered on completed candles
Considerations
Automated signals don't work equally well on all time frames and symbols. Most of our discrete signals that provide up or down triangles work best for 15-Minute to 1-Day time frames. Depending on the signal you are using and the symbol you are trading, signals may also work very well for all way down to 3 minute time frames and all the way up to 3-month time frames.
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A friendly word of advice / Disclaimer
Successful trading requires more than professional indicators. It requires things like knowledge, discipline and constant learning, having a plan and executing accordingly. It requires risk management (ie. setting stop losses), position-sizing and many other things being properly managed. That is to say, no indicator in the world can by itself make you a successful trader or investor, just like an great kitchen knife doesn’t make you a chef and a Formula 1 car doesn’t make you a professional race driver. What our indicators can do is provide you with the context to better understand market patterns and use them to make high-probability trades confidently.
For those new to trading or technical analysis, we always recommend a demo account until you feel confident in using our indicators.
- Minimizing the ‘noise’ of normal price fluctuations of the underlying securities and exposing their natural oscillations and patterns while still providing quick response time at the edge of trend reversals.
-Providing accurate signals for trend-reversals before they happen so traders can maximize profit and reduce risk. To be fully transparent, this can’t always be achieved for every ticker and every time frame.
-Optimizing entry and exit for both long and short positions and thus improving the risk/reward ratio of the trade. We strongly believe in buying into weakness and selling into strength at the point of trend reversal, so we designed indicators with that goal in mind. We urge our users not to underestimate the impact this strategy can have on trading results. It is even more important when trading options and other highly leveraged instruments.
Btw, we would never ask our users to use our indicators with esoteric chart types such as Heikin Ashi, Renko, Kagi, Point & Figure, and Range, which produce unrealistic results. We prefer candles with no wick. Also see our disclaimer at the bottom.
-----
OMEGA Indicator
The Omega indicator algorithm pulls it all together and adds several useful features, incl. proprietary algos and free available indicators (Hull Moving Average and Multi-Moving Averages). It provides multiple proprietary signal algorithms as well as our AlphaTrend line and AlphaTrend colored bar charts. Alphatrend is not an EMA or other moving average. It reacts faster than EMAs at reversal while at the same time providing accurate trend continuation confirmation.
Benefits
- Proprietary AlphaTrend signal line is fast at reversals yet properly confirms intact trends
- AlphaTrend colored trend candles
- Proprietary Long and Short signals based on a combination of multiple indicators
- Details on how to best apply the signals included in Tooltips (see indicator settings)
- Modify periods for AlphaTrend, Hull MA, SMAs
- Turn signals on /off all at once or individually
- Create predefined Alerts based on signals
- Works for most timeframes
Signals
- AlphaTrend candle colors changing
- Price closing below the AlphaTrend signal line
- 6+ discrete signal algorithms providing up or down signal triangles
- Signals should always be considered on completed candles
Considerations
Automated signals don't work equally well on all time frames and symbols. Most of our discrete signals that provide up or down triangles work best for 15-Minute to 1-Day time frames. Depending on the signal you are using and the symbol you are trading, signals may also work very well for all way down to 3 minute time frames and all the way up to 3-month time frames.
-----
A friendly word of advice / Disclaimer
Successful trading requires more than professional indicators. It requires things like knowledge, discipline and constant learning, having a plan and executing accordingly. It requires risk management (ie. setting stop losses), position-sizing and many other things being properly managed. That is to say, no indicator in the world can by itself make you a successful trader or investor, just like an great kitchen knife doesn’t make you a chef and a Formula 1 car doesn’t make you a professional race driver. What our indicators can do is provide you with the context to better understand market patterns and use them to make high-probability trades confidently.
For those new to trading or technical analysis, we always recommend a demo account until you feel confident in using our indicators.
Release Notes:
Added ability to define 'percent of live bar % passed' as requirement for signal generation.
Release Notes:
Specific signal information added for Signal 1.
Release Notes:
Default signals
Release Notes:
- improved signals
- added signals
- added signals
Release Notes:
- cleanup
Release Notes:
Big update this time with lots of new features:
- High-contrast candle color scheme for both light and dark theme to enhance trading
- Moving Averages (except Hull) have greater transparency to blend more into the background as to not visually overload the screen.
- Based on request, the plotted trading signals are now smaller.
- Ability to have wicks be muted visually (on/off), which in our opinion enhances trend recognition. Is enabled by default.
- Automatic Stop-Loss
- Automatically plotting stop-loss line and label on the chart when an OMEGA trading signal is plotted
- Has settings for lookback, StdDev adjustment and colors
- Sending OMEGA trading signals to STRATEGY
- Ability to send OMEGA trading signals to our new Strategy container for trade automation and strategy testing.
- You can use our OMGEA signals or your own as a source. Any indicator that plots a +1 (buy) or a -1 (sell) can be used as a source in the strategy to generate strategy entries and exits.
- General signal plotting doesn't have to be enabled in the OMEGA indicator, but the individual signal has to be selected for it's signals to be sent to the strategy. So you can send the signal even when it's nit plotted in the OMEGA indicator. Also, you need to turn on 'Plot OMEGGA Signals" at the bottom of the OMEGA indicator for the signals to be receivable by the strategy.
- High-contrast candle color scheme for both light and dark theme to enhance trading
- Moving Averages (except Hull) have greater transparency to blend more into the background as to not visually overload the screen.
- Based on request, the plotted trading signals are now smaller.
- Ability to have wicks be muted visually (on/off), which in our opinion enhances trend recognition. Is enabled by default.
- Automatic Stop-Loss
- Automatically plotting stop-loss line and label on the chart when an OMEGA trading signal is plotted
- Has settings for lookback, StdDev adjustment and colors
- Sending OMEGA trading signals to STRATEGY
- Ability to send OMEGA trading signals to our new Strategy container for trade automation and strategy testing.
- You can use our OMGEA signals or your own as a source. Any indicator that plots a +1 (buy) or a -1 (sell) can be used as a source in the strategy to generate strategy entries and exits.
- General signal plotting doesn't have to be enabled in the OMEGA indicator, but the individual signal has to be selected for it's signals to be sent to the strategy. So you can send the signal even when it's nit plotted in the OMEGA indicator. Also, you need to turn on 'Plot OMEGGA Signals" at the bottom of the OMEGA indicator for the signals to be receivable by the strategy.
Release Notes:
- cleanup and a fix for the last bar
Release Notes:
- last (live) bar always empty to emphasize it is not confirmed / complete.
Release Notes:
- code cleanup and reversing to larger signal plots
Release Notes:
- SL line lookback fix
- standard settings for AlphaTrend
- standard settings for AlphaTrend
Release Notes:
- settings adjustments
Release Notes:
- color update
Release Notes:
big fixes
Release Notes:
- Moved moving averages into separate indicator
- Improved signal quality
- Added ability to color candles based on external indicator trend
- Improved signal quality
- Added ability to color candles based on external indicator trend
TradingWhale 'invite-only' indicator, signal and strategy scripts are available on www.tradingwhale.io. We offer a 7-day free trial on all subscriptions.