ceyhun

Bull and Bear Fear Expert by Walter Downs Strategy

Bull and Bear Fear Expert by Walter Downs Strategy
Release Notes: v4 fix
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

can you made alert version?
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Buongiorno, qualcuno mi spiega come funziona questo indicatore, che non riesco a comprenderne i meccanismi e l'applicazione pratica? Sarei interessato, grazie
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ceyhun Cripto1
@Cripto1, grazie,
Bull Fear/ Bear Fear
The system is a trend follower that appears to get you in at the early in a trend. If the trend breaks down for any reason, the system seems to take you out with relatively little pain, and there is a relatively high
percentage of losing trades (usually around 50%).
Therefore, the system seems to perform best on issues that are prone to make prolonged moves.
+3 Reply
Cripto1 ceyhun
@ceyhun, Thank you. Some questions...
So does the system have a 50% false signal rate? And the strange coloring of the candles, how should it be read? And how should the scripts "-2 short" and "long +2" be interpreted? What do those "+2" and "-2" mean?
+4 Reply
ceyhun Cripto1
@Cripto1, bull blue
red bear
change time gray

Event calculation method you call -2, + 2 ...

BullFear = (highest (high, n) -lowest (high, n)) / 2 + lowest (high, n)
BearFear = (highest (low, n) -lowest (low, n)) / 2 + lowest (low, n)
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Cripto1 ceyhun
@ceyhun, Interesting. So, when, exactly, I should buy or sell by following the signals provided by the system? For example i see the system provides a couple of arrows over or under and bisides some candles...
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ceyhun Cripto1
@Cripto1,

The important thing is to find a trend, all indicators are forced horizontally.
Since it is a strategy, it gives 1 bar late.
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Cripto1 ceyhun
@ceyhun, I understood everything. I wait for my great-grandchildren to grow, in 20 years maybe some of them, if interested in trading, will be able to explain to me how this indicator works. I must confess to you that your explanations, however kind, are and remain, for me indecipherable.In fact, I continue to ask you specific questions which you, in your reply, continually evade. Excuse me, you know, but if I ask you to explain a specific thing, you cannot give me in response concepts not pertinent to the question ...So, i'll continue to respond you i've all understood while understanding nothing....
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@Cripto1, I find if you increase the time period to 30 that it works better on the higher time frames. You just need to have a system on top of this system to filter out the false signals, say something like whipsaws.
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Cripto1 JasonLeighton
@JasonLeighton, And, apologize my ignorance, "what are these whipsaws?"
Thank you....
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