Green/Red Arrowed Buy/Sell signals are just simple buy sell signals based on SuperTrend, VWAP, Bollinger, Linear Regression
Purple Arrowed Buy/Sell Signals happen when the price/candle cross over or under the yellow outer lines (4.236 fib lines) It's extremely rare and hard for price to stay above these lines therefore we can usually and comfortably buy/sell it, a key information here though when price pumps or dumps super fast and hard to the point of crossing these borders, the trend might also be extremely strong and continous so even if the price temporarily goes back inside the borders as the lines expand over time price can continue riding or crossing these lines back again and continue the uptrend/downtrend, therefore crossing these outer borders doesn't necessarilly and always mean a reversal is due.
When analyzing the instrument you're trading the important factors for support/resistance areas are usually the outer lines like i said previously it's super hard for price to be outside these and will almost always get back inside quickly. The Middle thicker green/red line which is Variable Index Dynamic Average should also be a nice pivot line for major support and resistance . All the other lines are also important dynamic support/resistance lines. Their Importance Order 1- Outer Yellow Line (4.236 Fibs) 2- Thicker Middle Green/Red Line (VIDYA) 3- Thinner Upper/Lower Green/Red Line (VIDYA +3, VIDYA -3) 4- The Rest Of The Lines (Fib Lines)
You can use this indicator in any market condition in any market to determine key support/resistance levels, use it for mean reversion through price expanding to outside of the most outer line therefore being overbought/oversold basically using the purple buy/sell signals or only follow the normal buy/sell signals or use it in confluence with each other. You can also use this indicator in confluence with your own manual technical analysis or other indicators/strategies you are already using and are comfortable with.
A good part is the support/resistance lines from timeframe to timeframe pictures the whole situation quite well, you can use lower timeframe to find your entry/exit positions and higher timeframe to find your key support/resistance points, they all should be somewhat in confluence from timeframe to timeframe anyways. My recommendation would be to look at 1HR, 4HR and 1D charts for swing trading and 5-15 Min for quick scalping/day trading
You should still probably at least take a look to higher timeframes so that you don't get burned when you realize there is a huge resistance line at price XXXXX on the 4 hour chart but you're expecting it to go above it on the 5 minute chart, it can go above it temporarily but we analyze everything on a closing basis so it most likely won't close above it. Again don't take a position or FOMO when price breaks a support/resistance line, we're looking for a CLOSE above/below them and a retest to see if S/R flip happened would even be better.
Sometimes the most outer line won't be the 4.236 (Yellow) lines as when it gets quite volatile the Thinner Upper/Lower Green/Red Lines (VIDYA +3, VIDYA-3) might cross them to be the most outer line, in this case i have observed that the trend is extremely strong this time price almost always doesn't go above or below the VIDYA line but can stay outside of the Yellow 4.236 Fib line for an extended amount of time (price will still get back inside the channel relatively quickly, just not as fast as the normal condition)
With Proper Risk Management and Discipline this indicator can be of great use to you as it's surprisingly successful especially at mean reversion and pointing out the support/resistance lines, they are so much more successful than your average MA/EMA lines.
Nota Keluaran
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English Style Menu Names
Nota Keluaran
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An overhaul to the overbuy/oversell signal logic now showing as potential local/short term Low and High points that seem to have a pretty good chance to be correct for quick scalps. An addition to our mostly fib, atr and regression based channel/lines for calmer times where volatility and volume is low and you don't really touch the outer lines, kind of like a new mini channel inside the major channel + linear regression based auto generated top, mid and lower trend lines to use in confluence with.
Nota Keluaran
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Tried to make this a standalone indicator with almost no settings to tweak to make it work on all timeframes and all assets, cleaned up the stuff that i thought wasn't really working well and implemented a better high/low signals, removed the buy/sell signals. This is basically v3.0 at this point. Also added another line that i think complements the middle VIDYA line a lot better in some scenarios, the EVWMA
hey bro. what is the recomemded take profit percentage? i use it in 1m tf and 0.66% tp is taking me hours hahhaa
Attrition
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@joedyshann, Well of course the 1m isn't going to be that volatile except some certain cases like news/data annonucements, There isn't any recommended TP or SL you should use the lines as your possible and probable TP and SL points (they are much more reliable as you go higher on the timeframe) You should use lower timeframes like 5 min 15 min to find ideal entry/exits and look at higher timeframe like 1 hours 4 hours or even higher to find major support/resistance points.
idontname
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@Attrition, thanks bro. im using it in 15min time frame but in different way. im using the buy signal to entry a posistion and the sell signal to exit
Attrition
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@joedyshann, Be sure to look at those signals on candle closure and check manually too as the buy/sell signal logic is still not what i want it to be. The High/Low signals are a bit better for sure for easy quick scalp gains.
y9754565h6
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I think this is terrific and I really appreciate all the work you put into it. Thank you!