Today I am glad to provide you a strategy based on the wave trend oscillator. If you want to use it as an indicator, just disable long and short to not make any shops.
It works on all time frames.
The way it works its like an RSI .
We have overbought and oversold levels, and together with a channel and length we calculate the wave trend.
A simple script to show the Fridays (Weekly Option Expiry), of course this is a basic script we can make a few more improvement.
One of many ways to utilize the "dayofweek" variable.
Currently there are no options to draw a vertical line, you can do a background color for the candle.
Future plans - Include monthly option expiry.
Simple script to show you a way to find 3rd Fridays (Monthly Options Expiry)
If that friday is a holiday, then it doesn't generate a signal. Futures & Forex trader need not to worry. I will fix it for the stock traders as well. Time is all I need.
as usual Good Luck for those who believe in it. Practice for those who believe in hard work. Think for those who...
This code snippet below is a quick and dirty follow up to some statistical analysis performed on the FTSE 100. It showed that over the long run, (since 1995) going long on a Friday appeared to have a statistical edge (53%). As a bit of fun, I wanted to create a quick pine script backtest to test this and see if it is possible to profit from it. After all, the...