SNDTOsc - MTF
SNDTOsc helps identify when a market is in a good position to identify an entry.
This indicator requires a bit of manual judgement and tweaking for specific markets. In a higher volatility market, use 1 to catch the quicker price movements. In low volatility, use 4. I normally flip between 1 and 2 with an occasional 3 or 4 in the higher timeframe if I need to determine the trend.
Pay attention to the color and position of the columns because they measure the higher timeframe's current bullish/bearish strength:
Lime - Bullish zone
Green - Potentially exhausted bullish zone
Pink - Bearish zone
Maroon - Potentially exhausted bearish zone
A few simple rules to filter out hasty entries:
HTF (Higher timeframe) - Lime
Look for a long entry upon a bullish crossover (red above blue) as long as the crossover is below the overbought zone.
HTF - Green
No new long positions. Look for short position upon bearish crossover.
HTF - Pink
Look for a short entry upon a bearish crossover as long as crossover is above oversold zone
HTF - Red
No new short positions. Look for long position upon bullish crossover
This indicator requires a bit of manual judgement and tweaking for specific markets. In a higher volatility market, use 1 to catch the quicker price movements. In low volatility, use 4. I normally flip between 1 and 2 with an occasional 3 or 4 in the higher timeframe if I need to determine the trend.
Pay attention to the color and position of the columns because they measure the higher timeframe's current bullish/bearish strength:
Lime - Bullish zone
Green - Potentially exhausted bullish zone
Pink - Bearish zone
Maroon - Potentially exhausted bearish zone
A few simple rules to filter out hasty entries:
HTF (Higher timeframe) - Lime
Look for a long entry upon a bullish crossover (red above blue) as long as the crossover is below the overbought zone.
HTF - Green
No new long positions. Look for short position upon bearish crossover.
HTF - Pink
Look for a short entry upon a bearish crossover as long as crossover is above oversold zone
HTF - Red
No new short positions. Look for long position upon bullish crossover
Информация о релизе:
Updated shading.
Информация о релизе:
Changed a bit under the hood and made the indicator easier to see in dark mode.
Информация о релизе:
Updated colours
Информация о релизе:
Updated logic to show an up or down arrow whenever three significant timeframes align in its direction