Blue Waves: 1.bw1 and bw2: Calculated using the Exponential Moving Average (EMA) and Simple Moving Average (SMA) of the price, respectively. They are used to capture short-term and medium-term price trends. 2.VWAP (Volume Weighted Average Price): Provides an average price level, commonly used to identify support and resistance levels.
Money Flow: 1.By calculating the money flow over specific periods, it helps in determining the buying and selling strength in the market. 2.Positive Money Flow (Green): Indicates stronger buying power.Negative Money Flow (Red): Indicates stronger selling power.
Relative Strength Index (RSI) and Its Derived Indicators: 1.rsiMod: A smoothed Relative Strength Index based on the Stochastic indicator, used to determine overbought and oversold conditions. 2.stcRsiMod: Another RSI-derived indicator based on the Stochastic indicator, further smoothed to reduce noise.
Overbought/Oversold Levels and Triggers: 1.Over Bought Level 1: Default value is 60. 2.Over Sold Level 1: Default value is -60. 3.Trigger 1 and Trigger 2: Thresholds used to generate specific signals.
Meaning of Small Circle Labels: 1.Green Small Circle (Buy Signal) 2.Red Small Circle (Sell Signal)
Color Meanings: 1.Blue Waves (Lt Blue Wave and Blue Wave): Lt Blue Wave: Light blue, used to display short-term price fluctuation trends. Blue Wave: Dark blue, displays medium-term price trends.
2.VWAP (Volume Weighted Average Price): Color: Light yellow, semi-transparent, used to highlight the average price level.
4.RSI and Sto RSI: RSI: Purple, used to display the Relative Strength Index. Sto RSI: Changes color based on the relationship between rsiMod and stcRsiMod. Green when rsiMod > stcRsiMod, and red otherwise.
5.Overbought/Oversold Levels and Triggers: Over Bought Level 1 (OB 1 Solid) and Over Sold Level 1 (OS 1 Solid): White semi-transparent lines, used to mark key overbought and oversold areas. Trigger 1 and Trigger 2: White semi-transparent small circles, used to mark specific trigger levels.
Usage Scenarios: 1.Identifying Trend Reversal Points: By observing the crossover points of bw1 and bw2, traders can identify potential reversal points for short-term and medium-term trends. 2.Assessing Overbought and Oversold Conditions: When the indicator enters overbought or oversold regions, combined with other signals (such as crossovers), traders can determine the possibility of a reversal. 3.Money Flow Analysis: By observing changes in money flow, traders can understand the buying and selling strength in the market, enabling more informed trading decisions. 4.Assisting Decision-Making: Small circle labels provide clear buy and sell signals, helping traders make quick decisions in complex market environments.
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