EneX is signal that give recommendation signals for entry and exit on spot market. This indicators not suitable for leverage trading in futures market. EneX signal consider several indicators and has entry and exit rules. EneX signal is suitable for investors who believe in trend following strategy (disclaimer on). This script composed by Yohan Naftali for educational purpose only. Reader who will use this signal must do own research.
Indicator and Plot Involved 1. Williams Fractals with default periods = 2 2. William Alligator Indicators with default simple moving average 8, 13, and 21 3. Exponential Moving Averages with default value EMA 50, 100, and 200 4. Relative Strength Index with default overbought level = 80 and oversold level = 20 5. Williams Fractals are joined to create support and resistance line and fill area between support and resistance lines.
Entry signal conditions 1. Entry on Weakness when bullish fractal appear on n/2 period 2. Entry when price break resistance line All entry condition must above EMA and alligator signal and not in overbought RSI
Exit signal conditions 1. Lowest price is below Exponential Moving Average 2. Lowest price is below William alligator lines
You can easily find entry and exit points by using Entry (E), Exit(X) signals
How to use 1. Monitor chart and wait until E or X signals 2. Entry if Entry Signal (E) appear (green colored label) 3. Exit if Exit Signal (X) appear (red colored label) 4. Change indicators setting when necessary
Best Practice 1. Entry only when entry signal (E) appear 2. Never entry when price below William alligator signal 3. Exit when exit signal (X) appear 4. Not exit when exit signal appear when you believe or you have information that price will be rebound 5. Exit if you believe that current price meet your target price 6. Always wise when use EneX signals
Disclaimer Do your own research and consider fundamental price of asset. The indicators provided on this script is for educational purposes only. Author does not offer advisory or brokerage services, nor does it recommend or advise users to buy or sell particular stocks or securities. Please examined script and give feedback for further improvement.
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change name from EnExRecom to EneX
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change name from EneX to NX change signal from e to N to prevent confusing between entry and exit now entry signal is N
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Add dot indicator below chart to show position in holding asset or not holding asset blue dot indicate position in holding asset teal dot appear when entry on weakness is recommended green dot appear when price break on resistance red dot appear when not holding asset
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Fix eXit signal condition
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Change Version and update chart
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Adding safe and danger area
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Update Chart
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Change title options
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change border line style from linebar to step line change color and add trasparency for visibilty other line