Johnny Ringo's Short Term Wheel Indicator

12 jam lalu

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Johnny Ringo Short-Term Wheel Model
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The Johnny Ringo Short-Term Wheel Model uses trends, momentum, breakouts, and a score-based histogram to show when the market is leaning bullish or bearish. User selected thresholds are then used to create Strong (high-confidence) and Weak (early or lighter strength) alerts. The histogram shows buying or selling pressure, while displaying the thresholds as upper and lower limits of the, otherwise, normal price channel. Triangles are shown on the price chart when the thresholds are exceeded, and act as possible trade signals. The model works on any timeframe and includes several optional filters. Please be advised that this does not forecast the market. It, instead, can help the user guage market activity to use, along with other indicators, to enter and exit trades based on the user's specific trading style.

Mode Selector (Display Option)
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- Both together
- Alert signals on Price Chart
- Histogram with thresholds
- Lets you show or hide the threshold lines.
- Lets you smooth the score to make the histogram look cleaner.
- This only changes how the histogram looks, not the signals.

This does not change how the model works, only what you see.

EMA20 / EMA50 (Indicators)
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- These measure short-term and medium-term trend direction over set time periods in days.
- Price above either EMA usually means uptrend.
- Price below either EMA usually means downtrend.
- These help the model understand which way the market is leaning.

- Select this on when you want the model to be sensitive to recent activity before showing alerts.
- Select this off when you want the model to react faster, by ignoring recent activity.
- Turning this on can cause fewer alerts because the model will skip alerts during choppy or unclear movement and only alert when price is moving in a clear direction.

LRS (Linear Regression Slope) (Indicator)
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- Measures how strong the price is pushing up or down.
- Rising slope means buyers are getting stronger.
- Falling slope means sellers are getting stronger.

- Select this on when you want the model to confirm price is gaining strength in one direction.
- Select this off when you don't need confirmation and want the model to alert more quickly, even in weak or uncertain moves.
- Turning this on can cause fewer alerts because it causes the model to reduce weak or early signals and wait for stronger movement before alerting.

EMA100 Filter (Filter)
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- This is a longer term (100 day) trend filter.
- If price is above the EMA100, the model allows bullish signals.
- If price is below the EMA100, the model allows bearish signals.
- Helps avoid trading against the main trend.

- Select this on when you want the model to follow the bigger picture and overall direction of the market.
- Select this off when you want the model to alert even if price is going against the longer-term trend.
- Turning this on can lead to less alerts because the model blocks alerts that go against the main direction and only lets stronger, safer alerts through.

Donchian Breakout (Filter)
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- This is similar to a Bollinger Band but looks at recent highs and lows, within a set period, to show if the price is breaking out of that recent range.
- Higher settings mean fewer but stronger breakouts.
- Lower settings mean more signals but more noise.
- This helps the model avoid signals during fake breakouts.

- Select this on when you want the model to alert only when price clearly breaks out of its recent range.
- Select this off when you want more frequent alerts, even if price stays within its recent range.
- Turning this on can lead to less alerts because the model will ignore small or sideways movements and wait for the price to leave its current range.

VWAP Filter (Filter)
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- This shows who is in charge today, bulls or bears.
- Above the VWAP means buyers are in control.
- Below VWAP means sellers are in control.
- Turning this on helps the model ignore signals that go against today's control.

- Select this on when you want the model to only alert if the alert (buy/sell) is consistent with today's control.
- Select this off when you want alerts even if they go against today's direction.
- Turning this on can lead to less alerts because the model will only allow alerts through that agree with the current day's buy or sell sentiment.

Timeframe Adaptive
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- All settings automatically adjust to whatever timeframe you choose.

3 jam lalu

Nota Keluaran

This is a user selectable wheel model that adapts to both each stock's recent beta and chart time frame. It detects trend reversals and optimizes those to alert you when to enter and exit covered options. It is user selectable with regard to colors.

Weaker Alerts are shown with lighter shade Arrows:

- Red Down Arrows at the top indicate bearish reversals.
- These also have a C or P inside that arrow states whether to sell your CC or buy your CSP Back.

- Green Up Arrows at the bottom indicate bullish reversals.
- These also have a C or P inside that arrow states whether to sell your CSP or buy you CC Back.

Strong Alerts are shown with darker shade Arrows:

- These exist where both Red conditions -OR- both green conditions above apply.
- They have no C or P printed inside.

In the settings, users can:

1. Choose only bearish or bullish reversals
2. Adjust BB Mult
3. Adjust RSI Exhaustion
4. Adjust cooldown bars