This indicator shows overbought and oversold zones. Can be used on all time frames. I personally use 15m - 30m.
How to apply ?: - There can be many strategies for use! I use this indicator to buy an asset in the green zone and then sell it in the middle of the channel or in the red zone. - I strongly advise against entering counter-trend positions in a growing market if you have little trading experience and understanding of price action.
How do I place orders ?: - I place orders in a grid. - If the price is very close to the edge, but it is difficult to reach it, then it is better to open a position on the market and place orders deep into the grid. - If the price is at the edge of the channel for a very long time, then you need to look at a higher timeframe.
Algorithm composition: - ALMA - Keltner Channel - Fibonacci Retracement - Custom price percent offset calculations and manipulations.
Settings: - I strongly do not recommend changing ALMA. These numbers have been specially calculated. - It's better not to change Borders either. The current algorithm dynamically changes the width of the extreme channels depending on the price movement. - The Keltner Channel was specially selected. - Fibonacci Retracement can be changed. This part of the algorithm can be modified to suit your needs. At the moment, there are settings for aggressive trading.
Сonservative channel does not allow a large number of points to enter positions, however, it is more straightforward and safer for very large movements. I prefer aggressive settings because they allow me to make more profit on the number of trades.
Try to use both modes and choose what is preferable for you.
Thanks for your indicator! Can you make a strategy for it? This way possible to backtest. Would be amazing my friend!
GASANOV_KIRILL
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@Ether2020, I was thinking about implementation. It is difficult to write a strategy for this indicator, because the indicator does not give signals but trend analysis.
For a strategy, I first need to write a channel oscillator and make a strategy based on it.
CryptoStan77
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dear creator how to add notification when the price cross the top or bottom of the indicator
edyexito
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This is one of the best indicators that I have seen, it allows the Trader to have very precise exit objectives or take profits if you prefer to take partials and the most important thing is that it does not repaint... Just congratulations for such an excellent job.