In this indicator I would like you to read the exact support and resistance according to fractal reaction of Bollinger bands and Ichimoku cloud we can also see a lagging span in it which can affirm the market trends and crossing MA's giving buy and sell signal which indicates uptrend and downtrend it will be more powerful in future updates.
I am explaining every point in mentioned image so you can easily understand what my indicator does and why i am using these things to make a strategy.
1 & 2 - Red and Green Cloud of Ichimoku:
The cloud provides support/resistance levels that can be projected into the future. This sets the Ichimoku Cloud apart from many other technical indicators that only provide support and resistance levels for the current date and time. How ever the clouds are displayed in either green or red - to make the reading easier. A green cloud is created when the Leading Span A (green cloud line) is higher than Leading Span B (red cloud line). Naturally, a red cloud results from the opposite situation.
3 - Blue lines - Bollinger Bands®:
When prices continually touch the upper Bollinger Band®, the prices are thought to be overbought; conversely, when they continually touch the lower band, prices are thought to be oversold, triggering a buy signal.
4 - Lagging Span of Ichimoku:
A trend is deemed to be upward when the Legging span appears above the price, and downward when the indicator appears below the price. Many traders watch for the Legging span to cross with prior prices to signal a potential trend change. It is created by plotting closing prices 26 periods behind the last candlestick/bar. It is used to gauge the momentum of an asset and to help identify potential trend changes.
5 - Super Trend tracement:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator buy and sell signals based on whether or not you should be buying and it signals an entry point or points to buy.
By the very nature of the super trend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses.
The way it works is, for example when the buy signal (green) is on, when prices dip towards the indicator, you can enter or go long at this level, which doubles up as support level. Similarly, when the sell signal is on, in red, price points nearing or touching the indicator can act as levels of resistance.
6 - Buy and Sell indication:
Phát hành các Ghi chú:
The previous version has different Buy and Sell indications based on a mixture of Moving Averages and Oscillators. The updated version has been linked with newly updated RSI by Trading View and is much tuned with Bollinger Bands and Ichimoku Cloud support and resistance. Also fixed the repainting issue of Buy and Sell. This is the perfect version of this indicator after launch.
The previous version has different Buy and Sell indications based on a mixture of Moving Averages and Oscillators. The updated version has been linked with newly updated RSI by Trading View and is much tuned with Bollinger Bands and Ichimoku Cloud support and resistance. Also fixed the repainting issue of Buy and Sell. This is the perfect version of this indicator after launch.