WaveRiders

The Zone Trades v1.0

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The Zone is mention in New Trading Dimensions by Bill Williams ,PhD.
The Zone is used for Entry Signal
Green Zone are painting Green Bars when Awesome Oscillator (AO) and Accelerater/Decelerator ( AC ) are both increasing.
Red Zone are painting Red Bars when Awesome Oscillator (AO) and Accelerater/Decelerator ( AC ) are both decreasing.
Gray Zone are painting Gray Bars AO and AC in difference changing
Gray Zone are indicate the indecision between bulls and bears.
Bill Williams , PhD. mention that Green Zone or Red Zone usually happen 6-8 bars Continuously.
The First Bar that change to be Green or Red color is the Signal Bar.
Entry Signal is the second bar in the same color as the Signal bar happen with Volume
Price go higher the high of previous Green Bar is Buy Signal. Entry Buy (Long) and place Stop at 1 tick lower the Low of previous bar.
Price go ;ower the Low of previous Red Bars is Sell Signal. Entry Sell (Short) and place Stop at 1 tick higher the High of previous bar.
Do not Entry if Green Bars or Red Bars completed 5 bars continuously.
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//The Zone is mention in New Trading Dimensions by Bill Williams,PhD.
//The Zone is used for Entry Signal 
//Green Zone are painting Green Bars when Awesome Oscillator (AO) and Accelerater/Decelerator (AC) are both increasing.
//Red Zone are painting Red Bars when Awesome Oscillator (AO) and Accelerater/Decelerator (AC) are both decreasing.
//Gray Zone are painting Gray Bars AO and AC in difference changing 
//Gray Zone are indicate the indecision between bulls and bears. 
//Bill Williams, PhD. mention that Green Zone or Red Zone usually happen 6-8 bars Continuously. 
//The First Bar that change to be Green or Red color is the Signal Bar. 
//Entry Signal is the second bar in the same color as the Signal bar happen with Volume 
//Price go higher the high of previous Green Bar is Buy Signal. Entry Buy (Long) and place Stop at 1 tick lower the Low of previous bar.
//Price go ;ower the Low of previous Red Bars is Sell Signal. Entry Sell (Short) and place Stop at 1 tick higher the High of previous bar.
//Do not Entry if Green Bars or Red Bars completed 5 bars continuously.
//
// The Zone v.1.0

study(title="TheZone", overlay = true)
//calculate AO, AC
ao = sma(hl2,5) - sma(hl2,34)
ac = ao - sma(ao,5)

//Green Zone , Red Zone and Gray Zone 
zGreen() => ao > ao[1] and ac > ac[1]
zRed() => ao < ao[1] and ac < ac[1]
barcolor(zGreen() ? green : zRed() ? red : gray)

//Entry Signal
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