Parametric ATR Signal (Expo)

Parametric ATR Signal (Expo)

DESCRIPTION

This indicator is designed to detect positive and negative market changes and identify the continuation of specifically negative trends.

Negative trend
The whole idea is that the indicator identifies major negative changes in the market and if these changes have characteristics of a negative trend, the indicator will start plotting a straight line. When this happens the indicator is predicting that the negative trend will continue.

Positive trend
The indicator behaves a bit differently in a positive trend since the market characteristic is different from a negative trend. The indicator does only detected major positive changes. However, if you increase the length of the indicator up to around 50 - 200 periods, the indicator will identify the continuation of the positive trend.

When the indicator peaks:
Peaks in the indicator are good places to either take profit or to enter the market.

Example: You have been Long in a positive trend, and the indicator peaks with GREEN color, these points in the market can be seen as "take profit"
If the market is in a positive trend and the indicator peaks with RED color, these points in the market can be seen as "Enter Long".


HOW TO USE

1. Use the indicator to detect major changes in the market.

2. Use the indicator to identify trends.

3. Use the indicator to identify areas for “take profit” and to "Enter the market. "

4. Combine it with Parametric Oscillator (Expo) and Cumulative Delta (Expo).


INDICATOR IN ACTION

EURUSD

WALL STREET

WALL STREET

BRENT

BTCUSD

GOLD

GOLD

GOLD

GOLD

GOLD

EURUSD

RENKO CHART

EURUSD

The indicator works best in these time frames, 4 hours, 1 hour, 30 min, 15 min, 5 min, 1 min.


I hope you find this indicator useful, and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!

I will continue to work on this indicator, so please share your experience and feedback with me so that I can continuously improve it. Thanks to everyone that have contacted me regarding my scripts. Your feedback is valuable for future developments!


ACCESS THE INDICATOR

• Contact me on TradingView or use the links below


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Disclaimer

Copyright by Zeiierman.

The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.

My scripts/indicators/ideas are only for educational purposes!

Release Notes: Major Improvements!

• Impulse/Long/Short signals are added. These can also be seen as "Take profit areas". If a signal occurs and the market shows no sign of reversal, that signal should be seen as an impulse.
  

Best