ORELA Long Signals

22 Jun 2020

The indicator is made to be used for the Bitcoin market.

Orela long signals is a script made for helping to identify oversold conditions similar to an RSI based on recent prices.
After identifying an oversold condition script is betting that the price will recover and longing the market based on the recovery calculation.

Like momentum traders betting that the price will move strongly in the direction until it loses strength.

For risk management in case the price doesn't recover but enters a new oversold condition the script will ladder entries to achieve a more favorable
position with better average entry price. Script also has risk management logic based on ATR calculations to exit the market when conditions are met
in order to protect against and time stronger moves in the opposite direction.

For position management script has adjustable stop loss and take profit levels based on average price of entry.

To help identify when the trend is losing or gaining strength the script also has a price following EMA "cloud".

Use the link below if you would like to obtain access to this indicator.

24 Jun 2020

Nota Keluaran

Release Notes:

- Added labels for average price amount

- Added option to select type of candle and time frame (default or heikin ashi) for ATR calculation