LegacyAffiliation

Project Royalty BETA

This indicator is designed to be used in confluence with the PROJECT WINDFALL BETA.

Trend analysis combined with top and bottom signals. This indicator is aimed at minimizing risk by trading with the trend.

Color Definitions:
Blue candle coloring shows a bullish trend
Orange candle coloring shows a bearish trend

Signals:

Trading Strategy:
TRADE WITH THE TREND
While the trend is bullish (blue) ONLY LONG.
Long trend reversal signals (blue triangle).
Long bottom signals (blue cross) and then take profits on top signals (orange cross w/ circle). DO NOT short top signals while in a bullish trend .

While the trend is bearish (orange) ONLY SHORT.
Short trend reversal signals (orange triangle).
Short top signals (orange cross) and then take profits on bottom signals (blue cross w/ circle). DO NOT long top signals while in a bearish trend .

Stop Loss/Take Profit Bands:
Stop Loss and Take Profit Bands are provided to encourage the setting of both a SL and a TP (methods to minimize risk). When entering a long, set a SL at the SL band value of the signal candle (defaulted to 1%). Set a TP at the TP band value of the signal candle (defaulted to 1.8%). Default percentages are under the assumption of 10x trading leverage.

Ideal Settings:
It's advised to turn off candle borders and to change candle colors to match the colors used in the indicator (default blue and orange).

IMPORTANT:
This indicator is specifically tuned for BTCUSD and is most effective on the 1 HOUR time frame. Be warned when trading any other instrument with this oscillator.
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Brilliant work, I'm going to be doing some testing this week, it would be great to take a peek at the source and experiment with some things :)
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JJosuke JJosuke
I forgot to mention, I have been already trialling briefly with some pairs, and the results are fine, but they could be much better as you mentioned it's fine tuned to BTCUSD. I'd like to try to make this work with FOREX, and to be able to tune it for each pair
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@JJosuke, thanks for the compliment. I'm not ready to release the code, honestly I'm not sure if I ever will, but we'll see. There are about 12 or so variables across Royalty, so it's pretty challenging to tune. FOREX tuning is definitely on my list though. I appreciate the feedback and am always willing to hear more.

-Kyle
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JJosuke LegacyAffiliation
@LegacyAffiliation, I've spent a lot of my time when I was looking for the "best indicators" tweaking and checking the optimal performance variables for pairs and different assets. Like I said I wouldn't mind if they were available on the settings option to tweak I could give it a good sit down and find some effective combinations (we can keep them between us), but of course it's all up to you :)

Looking forward to see where this goes man!
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Thank you for sharing really loving this.
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@kkhaial, no problem! I hope you find it useful. Please feel free to offer any improvements you'd like to see or any comments on it's current design.

-Kyle
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