A simple post on how to combine indicators to have an edge.
1. Understand the Indicators and its function. 2. Understand the price action 3. Create rules, that work for "you" 4. Stick to the Plan. 5. Manage what we know.....
For eg. 1. Squeeze on Weekly - Chart is sideways 2. Top and Bottom Indicator works well in a sideways market.
3. We cannot apply the TOP&Bottom on weekly because, its range is tight. Therefore, we switch timeframe to find the swing, that's good enough to trade
4. In this case, Daily / 2Day chart will work.
5. Apply the top & bottom indicator to the weekly squeeze.
- Creating strategies / Analyzing charts will only constitute for a 15% of the trading game. - Other 85% still remain on RISK MANAGEMENT.
Developing risk management ===> Developing rules for the strategy.
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littleriver
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I recently combined Williams %R with your T&B . The T&B provided lots of false signals on this silver chart but when combined with the W%R many good signals were found. Thank you ucsgears for continuing to code some great indicators!
dougl1965
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nice job Littleriver! What are your %r settings? It looks like you have 3 of them there intertwined? If we can find a setup that really works, I'd love to have a topic where we can enter possible setups. The daily setups are nice but I need to figure out how to make money intraday too. Guess I can just pick some stocks and do the same thing? set some alerts and see how it goes? good job guys!
littleriver
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Hello doug1965 I have three of them combined for a W%R ribbon. They are set with inputs 8, 32 and 160. When they consolidate in overbought / oversold is often a time for action. That is what i have highlighted above. I think picking some stocks and spend some time learning the nature of this indicator before making any trades is a good idea. I find it useful on all time frames. Good luck!
A-shot
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Why is the green %R visible only at the end?
littleriver
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Since this input requires the most data (160) , there apparently isn't enough data available for this symbol to print it earlier.
sameer_patel18in
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where will i find the setup of W%R ribbon? I am talking about exact setup which you put in your graph. Thanks.
littleriver
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Hello sameer I explain to doug just above what the inputs are for the W%R ribbon. Here is what I said,"Hello doug1965 I have three of them combined for a W%R ribbon. They are set with inputs 8, 32 and 160. When they consolidate in overbought / oversold is often a time for action. That is what i have highlighted above. I think picking some stocks and spend some time learning the nature of this indicator before making any trades is a good idea. I find it useful on all time frames. Good luck!".Hope that helps.
sameer_patel18in
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Ok sir, I got that but i can't add three willam %R all together. I am noob for charting...sorry. Is there any pine code available for that setup ? thats what i was asking. Thank you.
littleriver
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No code necessary. All you have to do is click hold and drag one indicator at a time on top of the other. First create the the three w%R's; then, click and drag all of them into one panel. This can be done with other indicators as well.