ForexResearchLabs

Radar Screen v3

This is a combination of various indicators that very rarely conflict, thus giving us a good understanding:

- "Price Rally" detecting whether price is rallying, giving us confidence it will continue.
- Volume - knowing volume is going with the trend is a good confidence check.
- Trend Angle - This will go red or green depending on whether the price angle is going up or down, taken over three bars.
- VWAP for all of these stock traders.
- EMA8 is a very sensitive moving average, good for short term trades.
- CCI SMA is a strategy I commonly use, please check out my other indicators for a functional description.
- Stochastics is used throughout many systems.
- RSI BB shows where price is rebounding of the bollinger band and then moving up or down.

As per all of my indicators, the system is simple - The more green lines you see, the stronger the buy signal. The more red lines you see, the stronger the sell. If its a 50/50 mix of red and green, then don't trade.

I can customise this further or add other strategies, please message me.
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Comments

@ForexResearchLabs between this and your Multistrategy, what is your preference and/or could you explain better use case for each indicator? Thanks.
+2 Reply
jultopia MasBart
@MasBart, yes I'm also wondering this
+1 Reply
@MasBart @jultopia, I use both, as I find sometimes one can be noisier than the other. I mentioned in another comment earlier these heatmaps can be used for multiple different strategies. By glancing at both and judging whether the majority of colour is red or green, you get a good idea on which way other traders are operating. When the trend hits the peak or trough, that's where you get more noise on both indicators before the new trend settles.

I don't use these indicators on any timeframe lower than one hour. Often I trade 4hr charts, with 1hr entry/exits. So I can't comment on how these perform using 15min charts etc.
Reply
The idea of taking indicators and transforming them into a Heatmap pattern 💯 THIS IS BRILLIANT 💯 so simple and so effective.
This is probably the best thing I have found online in such a long time 👍 Thank you for sharing this! 💯

After reviewing all my preferred indicators and creating my own heatmap then only comment I have is that the binary (green/red) approach needs expanding.
The market is not just in Buy or Sell mode. There are at least 5 stages: Flat, Rising, Falling, Full Up Trend, Full Down Trend.

Again thank you so much for sharing this approach of viewing indicators. Really useful! 💯👍
Reply
@dragosMLT, Hi, No problem it took alot of research, but we got there! There are other heatmaps available, found on my profile if you wish to take a look. My theory is have as many strategies as possible under one heatmap, then when it's red/green you know how everyone else using these strategies are trading. When all lines are the same colour, you know putting a trade on comes with the minimal amount of risk possible.

I've taken onboard your idea and will see how it can be implemented. TradingView has a limitation on the number of objects allowed on screen (currently 64 I think). But we can still use multiple indicators and some magic. Let me know if you would like to be involved.
Reply
Thank you for this, looks interesting. I can't figure out what the dots at the top indicate though?
Reply
@MBBT, Hi, I've taken a look through the scipt and can't see any plotshape circles or anything similar to a dot. Is it the "Price Rally" line found at the top you're questioning?
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you are a beast bro thanks god bless you !!!
Reply
ForexResearchLabs maribelarvelo20
@maribelarvelo20, Well I wasn't expecting that feedback lol! Let me know how you get on with it and whether you feel improvements could be made.
Reply
maribelarvelo20 ForexResearchLabs
@ForexResearchLabs, yes i love it is perfect i put the alerts and all good and you combine this with ?
Reply
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