This oscillator used to find bottoms and tops to decide when to go in and out of the market. It takes combination of price power, its direction and volume over the time into consideration.
*** Can be used on long term chart (monthly or weekly) or even short-term one like daily, hourly chart.
*** Indicator colors: - Red: trend down - Green: trend up - Black: trend is on-going (either up or down), should wait for the reversal to come.
*** As a general rule of using any oscillator indicator: - Buy when the oscillator is low and sell when oscillator is on its top. - Be hesitate to buy when oscillator is on top just because the price is high and everyone is excited about it, as your risk is big and the reward is low. - Always put a stop when you go in the market, as NO indicator can guarantee you 100% correct all the time.
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Updated to USD/JPY to have longer view in term of time.
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Updated UI and underlying calculation. Added MACD for TAB line as well.
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Updated chart view.
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Plot MACD histogram by area instead of bars.
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Use -20 as hist base for MACD histogram.
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Use Apple stock as example.
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- Add a new tool to check the trend: Trending Oscillator (over 100 and under -100 are overbought and oversought areas) - Use the Trending Oscillator to check what the trend is now. - Then use the TAB Oscillator for timing your enter entry with the trend.
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Use BTC 4H chart.
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Use TNAMA for the MA. Add more signals when the MA is oversold or overbought (under 0 or over 100). Change default length to 73.
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- Update default length to a longer value. - Use NAMA cloud to indicate trending status (background color).
@niceboomer I like your script. It is so cool, can I have access to the source coding ? thx
niceboomer
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@chungyatfai2005, Thanks a lot for your donation. It'd be a good source to encourage me to improve my scripts more. Happy bull run 2024. Cheers ;)
My1000X
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Hi @niceboomer,
Its a Amazing Indicator,
It would be wonderful help if you give access to the source coding.
donnamichele
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this indicator is the bomb!! Holy moly! It is extremely accurate. I love the little green arrows letting me know the chart is going up. Great work, thanks so much!!!!
@niceboomer can you please tell what is "new MA" ?
niceboomer
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@zschonn, the normal signal in most cases will not exceed its MA (always <100 and >0). With this new signal line, it will exceed the limits sometimes and when it's over 100 or under 0, I guess it's time to take action then. This new signal line also use NAMA indicator in its heart so you don't need to worry about choosing the period for your MA anymore. Let me know if you have any questions. Cheers ;)
nama(src, len) => alpha = 1.618 / 100 ma = ta.sma(src, len) ma := na(ma[1]) ? ma : alpha * src + (1 - alpha) * ma[1] ma
I like your script. It is so cool, can I have access to the source coding ? thx