REDWOOD King Bishop MA's

30 de nov. de 2020

REDWOOD King Bishop MA's

This indicator is based around moving averages to show short term and long term trends and possible trend reversals.

There are a lot of factors in this indicator so I will explain how best to take trades depending on your trading strategy.

Default MA settings are set and are one of the 2 recommended settings (other recommended settings are in the inputs for this indicator)
These show short term swings and changes, while coloring the fill with the short and long term trends.

Default labels show the Buy and Sell labels, along with the Strong Buy and Strong Sell labels. Buy labels should be taken as a tell that we could be reversing the trend, these labels will also allow you to get into trades earlier before a major trend change.

For the most part I recommend trading on the Strong Buy and Sell labels, these are telling you the strong trend changes that are taking affect, giving the "last call" for good entry or sell signals.

There is a long MA (Black) plot that is used as a support and resistance and when it is in the middle of the fill, this is telling you we are in the midst of the bull or bear run the indicator is showing. Times it is above or below the fast or slow MAs is taken as risky entries. you should only trade on these if other indicators are showing a reversal or entry themselves along with this indicator.
I recommend using this indicator with the RSI or MacD, specifically the REDWOOD MTF MacD or REDWOOD Stochastic RSI.


All MA fills are colored to show what is happening in the short term and also the long overall trend. A color change of the fast ma's while the overall trend is stable, lets you know of potential dips or exit positions.



There are lots of settings that you can utilize with this indicator and they are as follows..

• You can customize all MA lengths
  
  
  
• There are Scalp labels you can toggle on to show good scalp entries on both long and short sides. These are risky and only to be taken as potential exits or entries
  
  
  
• You can toggle all labels, buy/sell, StrongBuy/StrongSell, Bullish, Bearish, Pivots, and Scalp
  
  
  
• Pivot labels with this indicator are very risky, but can give you the best entries on a reversing market. These work best with a confirming indicator working along with these labels.
  
  
  
• Bullish and Bearish labels show when the overall trend has crossed the support or resistance, these are good trades to take if you are swing trading or want to see or be alerted of a change of overall trend.
  
  
  
• By default, which you can turn off, Bars are colored with the trend of the market, blocking out candles that could be opposite of the trend, reassuring a position.
  

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Swing Trading: Buy on Strong Buy signals and Sell on Strong Sell signals
Alternate Strategy: Buy on Bullish signals and Sell on Bearish signals

MacD or RSI or Stoch RSI confirming the trend change on these will give you the best entries and exits possible.



Scalp Trading: Buy and Sell on Scalp signals after turning them on.
Alternate Strategy: Buy when the 2 Fast Ma's cross changing the color on the fill lime, and Sell when the Fast Ma's cross and change the fill color red.
Alternate Strategy : Buy on Scalp on Buy or Sell Scalp signals and sell when Fast Ma's cross and change opposite your position, bullish or bearish.

Again, a confirming indicator will help with entries and exits.



Day Trading: Buy on Buy labels and Sell on Sell Labels

Again, a confirming indicator will help with entries and exits.
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All settings, colors, and plots can be customized, and all are labeled to make it easy for you.

Alerts for each label or trend change has been incorporated, so you never miss a trade opportunity!

This can be a very useful indicator, and I'm sure some may find settings that work even better
than the default or recommended settings.

This indicator works on all markets, forex, cryptocurrency, and stocks.

For access to this and all indicators available, please DM me here or See profile.
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