INVITE-ONLY SCRIPT
SNDTOsc - MTF
Atualizado
SNDTOsc helps identify when a market is in a good position to identify an entry.
This indicator requires a bit of manual judgement and tweaking for specific markets. In a higher volatility market, use 1 to catch the quicker price movements. In low volatility, use 4. I normally flip between 1 and 2 with an occasional 3 or 4 in the higher timeframe if I need to determine the trend.
Pay attention to the color and position of the columns because they measure the higher timeframe's current bullish/bearish strength:
Lime - Bullish zone
Green - Potentially exhausted bullish zone
Pink - Bearish zone
Maroon - Potentially exhausted bearish zone
A few simple rules to filter out hasty entries:
HTF (Higher timeframe) - Lime
Look for a long entry upon a bullish crossover (red above blue) as long as the crossover is below the overbought zone.
HTF - Green
No new long positions. Look for short position upon bearish crossover.
HTF - Pink
Look for a short entry upon a bearish crossover as long as crossover is above oversold zone
HTF - Red
No new short positions. Look for long position upon bullish crossover
This indicator requires a bit of manual judgement and tweaking for specific markets. In a higher volatility market, use 1 to catch the quicker price movements. In low volatility, use 4. I normally flip between 1 and 2 with an occasional 3 or 4 in the higher timeframe if I need to determine the trend.
Pay attention to the color and position of the columns because they measure the higher timeframe's current bullish/bearish strength:
Lime - Bullish zone
Green - Potentially exhausted bullish zone
Pink - Bearish zone
Maroon - Potentially exhausted bearish zone
A few simple rules to filter out hasty entries:
HTF (Higher timeframe) - Lime
Look for a long entry upon a bullish crossover (red above blue) as long as the crossover is below the overbought zone.
HTF - Green
No new long positions. Look for short position upon bearish crossover.
HTF - Pink
Look for a short entry upon a bearish crossover as long as crossover is above oversold zone
HTF - Red
No new short positions. Look for long position upon bullish crossover
Notas de Lançamento
Updated shading.Notas de Lançamento
Changed a bit under the hood and made the indicator easier to see in dark mode.Notas de Lançamento
Updated coloursNotas de Lançamento
Updated logic to show an up or down arrow whenever three significant timeframes align in its directionScript sob convite
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Instruções do autor
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