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:
Blue Triangle - Trend reversal (bearish to bullish)
Blue Cross - Local bottom while in a bullish trend
Blue Cross w/ Circle - Local bottom while in a bearish trend
Orange Triangle - Trend reversal (bullish to bearish)
Orange Cross - Local top while in a bearish trend
Orange Cross w/ Circle - Local bottom while in a bullish trend
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.
リリースノート
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Alert conditions have been added for all signals, trend change triangles, crosses, and sun crosses (circle with cross).
リリースノート
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Credit to @SirVyper for this recommendation.
A noise cancellation method (Vortex Indicator) has been added to reduce the abundance of Cross and Sun Cross signals of both colors. This noise reduction can be adjusted in the settings and turned on/off.
Amazing tools bro. Use them daily and making nice profits doing so! Hit me up if you need testers for any future versions etc!
Also, chuck up a donate address ;)
Stay awesome homie
Royal_Naut
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@SirVyper, glad to hear mate! Definitely let me know of any improvements that you want to see!
-Kyle
RoguePhosphene
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@LegacyAffiliation, I have found that the Vortex Indicator compliments Royalty very nicely. Perhaps you could use it as an extra confirmation for long/short entries or something?
RoguePhosphene
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@LegacyAffiliation, Hey mate hope you are well! Just wondering whether you would be able to add alerts the crosses so they can be used to close out trades..?
Royal_Naut
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@SirVyper, sorry for the delay, alerts are live!
MiyagiRy0ta
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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 :)
MiyagiRy0ta
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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
Royal_Naut
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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
MiyagiRy0ta
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@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 :)
Also, chuck up a donate address ;)
Stay awesome homie