This is a cloud where I tried to recreate the Nadaraya-Watson Envelope using a different mathematical approach Clustered standard Ma's with weighting.
Objectives: No repaints Alerts Almost the same output on live play.... (no need to replay history when configuring settings).
the presetup is for LuxAlgo's default settings (thanks for this great indicator).
Features: Alarms with different modes --- Band 3 is the band that triggers the alarms. more gradual setting for the curve visual alerts for band 1 and 2
how to use: in trend direction act the yellow "in direction" arrows tape 1 against the trend direction: the band 3 signal, DCA or with SL, prefer SL as it is safer for both trading variants you can adjust the curve and the bands to your risk management
have fun
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added selectable Timeframe
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Digitalout is now a dedicadet Plot which forwards Level 3 Buy and Sells
buy= +1 sell = -1
here a sample with my free scripts all the parameters are in the screenshot
The Daisychain line is: Almost Nadaraya x8 Processor with MDP function (each 2% one sell or buy) MK5.6 Riskmanagement
possible extensions: Almost Nadaraya x8 Processor with MDP function (each 2% one sell or buy) free L1 L2 RSI indicator from my scripts another X8 which combines the channels after this in the MK5.6
alternative you just can use the digitalsignal plots in you own strategy and work with that signal
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corrected screenshot
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addition of "spikedetekt", default off than alarms also come on low and high instead of close
addition of "zero lag" indicator to find no trade zones (a experiment to decrease fail traids when countertrend usage) this also filters the alarms
addition of multibit implementation to daisychain x8 processor and modular backtesting
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bugfix sideways trend filter for plotshapes
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multitimeframe possibility for the sideways filter
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libary update
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Changed the way digits are handled, thanks to @JohnNey for that idea
Added optional OSZILLATOR mode changeable via dropdownbox it messures the distance from close to the boundary channels To use this feature, you need to move the indicator into a new plane and select the correct operation-mode
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Additions to the oszillator settings and new alertmode
Changeable Hlines Selectable alertmode "Oszillator" Alerts based on Hlines movment direction change Alerts L1 are not usefull here, you may disable Detection Length (time of moving in) Filter Length (time of moving out)
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removing sideways filter... no consistent backtesting results, big no trade zones and still lots of overbuys/oversells in the wrong spots.
I would like to thank you for this screen and this idea. I am now scanning with my brain many charts in m15, white price moving in h1, h4 and daily StDev bands with default parameters.
If I manage to make money regularly, I will give you money as reward and thank.