Palace BWAL Signals

Key Components of the System:

1. BWAL Momentum Oscillator:
- Specialized RSI measuring price deviation from BWAL
- Identifies overbought (70+)/oversold (30-) conditions relative to BWAL

2. Volume Confirmation:
- Requires 150% of 20-bar average volume
- Ensures institutional participation in moves

3. Price-BWAL Convergence:
- Detects when price moves within 0.1% of BWAL
- Requires decreasing volatility near the line

4. Signal Logic:
- Buy: Price converges above BWAL with rising momentum (45-70 zone)
- Sell: Price converges below BWAL with falling momentum (30-55 zone)
- Requires 2-bar confirmation of price direction

### Visual Features:
1. Direct Chart Labels:
- Green "BUY" labels below bars
- Red "SELL" labels above bars

2. Background Highlighting:
- Subtle green/red tint during signals

3. Signal Strength Metric:
- Measures quality on 0-5 scale (higher = stronger signal)

### Usage Guidelines:
1. Best Trading Hours:
- Signals are most reliable during NYSE open (9:30-11:30 AM ET)

2. Confirmation:
- Enter on next bar after signal appearance
- Always use 1:2 risk-reward ratio

3. Filtering:
- Focus on signals with strength > 3
- Avoid signals during economic news events

4. Exit Strategy:
- Take profit at 1.5x average true range
- Stop loss at opposite side of BWAL