fract

Triple Cross UO

Sensitivity to a price change:
Black UO > Green UO > Red UO
How to reach a chart using UO_3X indicator:
  • A trend can be considered as stable if Green UO crosses and stays above Red UO. Visually it will look like a green cloud.
  • During uptrend there is a tendency of Black UO to fluctuate above Green OU and especially above Red UO. Coloring it yellow.
  • First reversal signal of the uptrend would be if Black UO touches or crosses above Red Band.
  • Second reversal signal is when Black UO falls below Green UO.
  • As a result of second reversal signal, Green UO also declines and eventually crosses below Red UO which is the confirmation of upcoming general downtrend, coloring it red.
  • During a downtrend Black and Green UOs fluctuate below RED UO.
  • Once black UO crosses below Green Band, coloring it blue, the first signal of upcoming reversal of downtrend is established.
  • Second signal of reversal of downtrend would be is when Black UO crosses above Green and RED UOs .
  • Confirmation of uptrend would be if Green UO goes above Red UO coloring it Green.
Release Notes: Responsiveness increased.
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

excellent work
unique implementation.
useful. Worth adding ths to the main screen.

Thanks for sharing.
200 coins
+1 Reply
fract gb50k
@gb50k, Man, thank you! I really appreciate and respect your perspective.
It just takes to select the right TimeFrame to make it fully synchronize to the market pulse.
Reply
During uptrend there is a tendency of Black UO to fluctuate above Green OU and especially above Red UO. Coloring it yellow.

Yellow is considered as continuation of uptrend or its a reversal of uptrend

Once black UO crosses below Green Band, coloring it blue, the first signal of upcoming reversal of downtrend is established.

Blue is considered as reversal of Downtrend.

& whats the best timeframe for this strategy?

Thanks for the amazing work
+2 Reply
fract sahhil.beri
@sahhil.beri, any timeframe. The larger your timframe gets, the more black UO matters. In small TF you also pay attention to black UO, but the main focus should be on rest of UO's
Reply
Great staff man!
+1 Reply
MeiZo
+1 Reply
You’re the man! Amazing work. How applicable is it in larger timeframe from accuracy perspective?
+1 Reply
@Mostakim32 @TWIMARKETCAP @UnknownUnicorn4766376

IMPORTANT! If you face some issues with it in bigger timeframes, make some changes to the inputs of UOs.

For a higher flexibility of the indicator, change the values:
UO1: do not change
UO2: 50 100 200
UO3: 200 400 800

I hope this helped.
+1 Reply
fract fract
@ffeizian, replying here to "How applicable is it in larger timeframe from accuracy perspective?" It's made for most of the timeframes.
First of all, I highly suggest you to test it. If you face some accuracy issues, replece the default configuration of values to the ones above.
Reply
@fract, understood. On it
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