This indicator provides back-tested signals and alerts from multiple technical indicators. No more guessing whether or not you should trust an indicator. See your indicators' past performance at a glance. No more false alarms. Disable re-painting of signals. When multiple indicators overlap, a Confluence indicator will print (large triangle). With your settings properly tuned, this will show a HIGH probability of a move.
Current Signal/Alert Options (more to come): RSI Oversold RSI Overbought EMA Crossing Up EMA Crossing Down Buy Signal Confluence Sell Signal Confluence
Instructions: -Enable/disable individual indicators so you can fine tune one at a time -Adjust the indicator's settings -Adjust your trade parameters (Max Wait, Take Profit %). Signals that would have given the desired profit in the time allowed will be painted orange. -Repeat this process with each indicator until you're satisfied -Set-up alerts
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Added option to change RSI Timeframe independently (like the EMA already had). Keep in mind, the Max Wait is still in Candles. So if you're on a hourly timeframe with a value of 10, the indicator will only print a win if your Profit setting is reached within 10 hours after the signal prints.
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Fixed a bug effecting the "lookahead" process for confirming RSI signals. Changed default settings to a more reliable setup.
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Issue with "Disable Re-Painting Signals": Disabling re-painted signals makes it so the signal is only drawn on historical candles... Because alerts only trigger on current candles, this was causing alerts to not show at all. I've changed default settings to disable this feature, but I've kept it in case you'd like to use it for some reason.
Best configuration for alerts is to uncheck "Disable Re-Painting Signals", and set your alerts to "Once Per Close".
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Updated chart image
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Fixed a typo in settings. ("EMA Timeframe" > "RSI Timeframe") Improved default settings.
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Updating chart.
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-Added Stats readout (# of signals & Win Rate % for each signal) -Added Engulfing Candles as an alert -Confluence signals will trigger when >1 signal is active on a single candle -Removed "Re-painting" feature
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-Fixed a bug: Buy/Sell Confluence alerts were still defined as "RSI AND EMA = Confluence"... Now they will trigger if any two conditions are true. (if Signal Count >= 2, then Confluence is true)
- ADDED "ANY BUY" & "ANY SELL" ALERT Now you can set an alert that will trigger if any one condition is true on the buy or sell side.
@KenJason, the green and red arrows will show up real-time, depending on your settings, and can unpaint if conditions are no longer there. The Orange arrows paint over the old, set-in-stone arrows to indicate if your settings were effective, again, depending on your settings.
CrazedJEW
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@CrazedJEW, I set mine up to send alerts only at the end of the candle (daily), that way the alert I get is set-in-stone, and isn't unpainted after I've made a trade based on it.
dezignar
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Does someone use this for a longer period of time now and willing to share some info over it’s results?
CrazedJEW
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Hi @dezignar. I've used it as my primary trigger on bot trading since the indicator's inception. The back testing feature (orange arrows) can be trusted. If you set a plan on the indicator and mirror it in your bot settings, you'll get similar results. Of course, past performance does not dictate future results, but they're close! I have several bots that run off this, some trigger on the Any Buy signal, and some larger ones trigger only on a Confluence buy signal. Each bot makes 10-30% profit per month.
dezignar
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@CrazedJEW, nice profits! I've started with the bullish and bearish ec alerts, but now i am going to test with the bullish / bearish confluence signals. I would be happy with steady results similiar to yours. are you trading on the daily charts? As far as i can see... this timeframe produces the highest winrates.
CrazedJEW
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@dezignar, Yep, daily is the most reliable and profitable from what I've seen/tried.
CrazedJEW
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Anyone have ideas for additional alert conditions? Let me know.
KenJason
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Are ALL arrow Indicators displayed Real Time on the chart?