Range Trade Confirmer
- Indicateurs
- Rob Cain
- Version: 1.0
- Activations: 5
Range Trade Confirmer (RTC) is made up of many indicators to create a unique single trading instrument.
The main function of the indicator is to find price direction, the histogram is the main visual indicator, colour coded to quickly recognise the expected direction, we get a second confirmation, this is the RTC itself, based on price, it will enter or exit the histogram based around direction, an arrow will confirm the RTC direction,
The arrow colour and the histogram colour will need to be the same to confirm direction, a miss alignment of the colours lets you know there
are false signals.
While RTC is better used for trending, on higher time frames it will show ranges in the price, it's unique ability to show past moves are highlighted with a histogram, checked in line with the chart, the histogram can show previous price turns, making use of these turns we can see price return to meet possible support or resistance.
A volume filter has been added, while RTC functions just as good without it's use, the user can create a more complicated personnel approach, filtering out low volume, we can now adjust times of a higher volume entry, the volume setting will be time frame specific, using a low time frame with a high volume setting will show very little activity, just the same as using a low volume setting on a higher time frame will show multiple activity, this function is called the "Mass Trigger"
Setting the Mass Trigger to "True" and volume input to the level you want, will create an arrow when volume is at the desired level, the arrow colour will coincide with the RTC position, from here you can now see how price is performing in relation to volume.
Buy & Sell zones are included, as an oscillator, we find the swings up lead to downswings or vice versa, this we can also take advantage of by activating the zones, the trigger is set to a high of 70 and a low of 30, in general, a swing outside these levels will activate the appropriate arrow in relation to the position of RTC
Buy trigger & Sell trigger isolate the actual entry and exit of RTC from the histogram, if non of the setting are touched and used in default mode, arrows will appear all along the length of the direction of RTC, an added way so the chart has less clutter.
While the system offers no guarantees, it can be used as a visual assist in viewing the market movement.
