The Black Flamingo indicators (Overlay, Trend and Context) are a setup of three indicators that aims to help in trading.
The Black Flamingo Overlay part aims to guide the price prediction, by informing on potential short-term reversal zones, and providing take profit lines of counter-trade. The Black Flamingo Trend part aims to predict changes in current trend, and generate trade entry points. The Black Flamingo Context aims to inform on trend status on higher timeframes, and is used to confirm signals made by the two others indicators
The Black Flamingo Trend display on the chart the following components : - A Trend oscillator that is using price and volume information to inform on changes in trends. - Overbought and Oversell zones, to rapidly see when the price is making strong moves in price and volume. - An automatic divergence computation ("D" displayed on the chart) between the oscillator and the price.
Trend oscillator is a new tool that aims to provide information on trend exhaustion or trend changes. In first, the oscillator is computed using the past prices and volumes. So to make the oscillator stay in overbought and oversell zones, there must be strong movement and volume. There is several way to use this oscillator in conjonction of the other Black Flamingo indicators : - When you are confident that the price is in range (looking the Black Flamingo Context), every time the oscillator is in overbought or oversell zone consist in entry time of trade - When you are confident that the price is in trend (looking the Black Flamingo Context), you have to write a support/resistance line of the oscillator. A reversal signal is done when the support/resistance is breaked and a divergence is printed. The reversal signal can be confirmed by the Black Flamingo Overlay if there is some 3D Breaker targets. - When there is no visible support or resistance in the oscillator, it likely means that the price is in range.
There is one parameter to configure the Black Flamingo Trend : - period : That's the number of candle the oscillator is looking to display its value. Use a low period to catch short term entry price, and high period to add more safety on the entry prices.
This indicators is only accessible on invitation. Please contact me in PM or thisma (https://fr.tradingview.com/u/THISMA/) in order to request us an access.
Release Notes
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Update the description chart
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- Add contest background overlay to indicate potential reversal zones
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- Add multi timeframe informations on the trend, in order to improve the display of support and resistance on the trend
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- Disable by default the multi-timeframe feature
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Version 1.0
- Some bugfixes - Add the multi-timeframe trend (MTF) in gray on the chart. It correspond to the synchronisation of all trends in upper timeframe. It can be used to confirm a divergence or a signal
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- Add alerts on highlighted bull and bear setup - Add alerts on Trend + MTF in oversell/overbuy - Clean naming of plots - Version number 1.10