How to use it? - First check whether the bar (below the waves) is green (which means there is a lot of buying recently), in that case we are looking for a long option. If it is red (ofcourse) we are looking for a short option. - The green dots below the blue waves represent a buy signal and if the blue wave is oversold (below 60) the green dot is considered a BIG buy signal (more probability of a good trade). The big buy signals are also plotted on the horizontal bar. So a green dot on the bar while the bar is also green represents a buy signal. You can exit the long when a red dot appears in the blue wave above the zero line.
- Another way to use it is to look for divergence of the blue waves. When a blue wave below the zero line appears and then a new wave (some time later) appears which is smaller than the previous, this is considered a good entry point for a long.
- The yellow represents the VWAP (which can be used as a confirmation (crossing up means buying, crossing down means selling)
The RSI is also added (yellow line) oscillating between 100 and 200 (is moved up by 100). The Stoch RSI is also added (blue and red lines) on the same interval as the RSI.
For improvements, ideas or questions, please don't hesitate to leave a message.
Release Notes
⋅
You can now manually create an alert for the big buy signals (big green dots)
Was introduced to this by a great trader. I've relied heavily on RSI to identify the 4 types of divergence . If there's anything I would change on this it would be the size of the section where the RSI indicator travels in order to more clearly see points and basically identify divergence with that alone.
fattyjeep
⋅
Where is the money flow on the market cipher indicator
Mcdowells_2
⋅
nice one man
prasadmuttom
⋅
dear sir.now i am testing this indicator.thank you very much for your work.within a week ,i will post my experience.
Benito89
⋅
Cool
cranglepowder92015
⋅
why is there 2 colors of blue waves? also what is the green/red wave indicating?
Hey. Great job on creating this. I was wondering if you have given a shot by creating this as a strategy and backtesting it. Would love to know the stats of the same. One strategy could be buying the small green ones and one only the big buy ones. Would you be open to a discussion on this?
marshaggs
⋅
@TA_Pain, Thank you, well i didnt have time for that, been so busy with other things.. I like the idea though
TA_Pain
⋅
@marshaggs, Well, I hope you make one and share it. Would love to know the stats of the same.