INVITE-ONLY SCRIPT

Crude Oil Indicator [SIDD]

由siddmuk2005提供

已更新

Crude Oil Indicator is giving two signal Bullish and Bearish . Bullish signal is used to take long trade and Bearish signal is used to close existing long trade and take new short trade and so on.

To get More signal of Bullish and Bearish user must enable More Signals check box that will check crossover and cross down of price close with Gaps.

I am using 2 ATR and one ADX and Gaps and VWMA to make signal profitable with 15 minutes 1 hr ,2hr,3hr,4hr chart time frame.

I have checked last few years data for back testing. Based on past performance it doesn't work well in 30 minute and 1 day chart time frame as results are not good in back testing. I have designed this indicator for Indian crude oil context though it can be used with other market as well.

1st ATR used to find trend with price crossover.

2nd ATR ADX is used to find the trend change details only. I have taken VWMA and ATR both to consider trend change.

Highlight Gap Up and Gap Down is used to know daily market opening gap up and gap down area. Gaps act as support and resistance .

VWMA Plotted as Blue line. Rising VWMA considered as uptrend and falling VWMA considered as downtrend.
Flat VWMA considered as no trend zone. In no trend zone every second third candles cross VWMA .

User must keep the default setting for getting better results as results are back tested. If setting changed then result may vary.

I have added here back tested performance user can see those results. I have added commission and slippage as well. Past year performance not guarantee for future years result so before taking any trade trader must take conscious decision.

This indicator is available on Subscription.

PM/ DM for more information about the script access.

Use the link below to obtain access to this indicator.

版本注释

Updated VWMA line color based on trend.

Today checked with Gold and Natural Gas its working on that as well in positional trades.

版本注释

Added more signals with VWMA.

Removed extra codes which are not useful.

版本注释

Added signals for consecutive candles based on open close so trend break can be identified.