The Urika Confirmation (UC) Indicator helps a user make a better decision about areas to enter the market for a trade. The indicated incorporates the highs and the lows of the price for a specific period. The information is depicted on this two-line indicator to show the direction of the price. The gap between the two lines is a cloud for determining the current position of the trade and staying in a trend.
The two lines in the indicator are a signal line and a slow line: the price is likely bullish if the signal line crosses above the slow line while likely bearish if the signal line crosses below the slow line. One can enter a trade if the price is above the cloud while the signal line crosses above the slow line, This is an indication that the commodity or stock is bullish and vice versa for bearish. One can avoid trading when the price is in the cloud.
UC Calculations:
The signal line is the average high and low of the prices using the fast-length input.
The slow length is the average of the past previous high and low prices using the slow-length input.
Ways to Use the UC Indicator:
It is convenient to use the indicator with Relative Strength Indicator. If the signal line crosses above the slow line -->> Bullish possibility (buy if RSI >= 55). It is a false buy/long signal if the cross occurs while RSI is below 55.
If the slow line crosses above the signal line -->> Bearish possibility (short if RSI <= 45). It is a false short signal if the cross occurs while RSI is above 45.
The indicator can be used at all timeframes. The user can use different settings to suit their way of trading.
The indicator uses the concept of the Ichimoku Indicator to provide users with
The two lines in the indicator are a signal line and a slow line: the price is likely bullish if the signal line crosses above the slow line while likely bearish if the signal line crosses below the slow line. One can enter a trade if the price is above the cloud while the signal line crosses above the slow line, This is an indication that the commodity or stock is bullish and vice versa for bearish. One can avoid trading when the price is in the cloud.
UC Calculations:
The signal line is the average high and low of the prices using the fast-length input.
The slow length is the average of the past previous high and low prices using the slow-length input.
Ways to Use the UC Indicator:
It is convenient to use the indicator with Relative Strength Indicator. If the signal line crosses above the slow line -->> Bullish possibility (buy if RSI >= 55). It is a false buy/long signal if the cross occurs while RSI is below 55.
If the slow line crosses above the signal line -->> Bearish possibility (short if RSI <= 45). It is a false short signal if the cross occurs while RSI is above 45.
The indicator can be used at all timeframes. The user can use different settings to suit their way of trading.
The indicator uses the concept of the Ichimoku Indicator to provide users with
Release Notes:
I added the shapes to make it easier to identify where there is a crossover between the signal and slow lines.