The purpose of this script is to decipher chop zones from runs/movement/explosion
The chop is RSI movement between 40 and 60
tight chop is RSI movement between 45 and 55. There should be an explosion after RSI breaks through 60 (long) or 40 (short). Tight chop bars are colored black, a series of black bars is tight consolidation and should explode imminently. The...
Combines SuperTrend with Stochastic Oscilator to provide entry and exit signals.
Offers 3 types of entry signals with an option to color ideal entry bars.
- Entry after SuperTrend flip confirmation.
- Entry at over bought/oversold levels respective to the trend.
- Entry at the 50% stochastic level following trend direction.
Offers two types of exit signals.
Phantom Trader is a "counter-trend" strategy built to take advantage of non-linear trading ranges and heavy chop zones.
Phantom Script is forward-thinking, and will project the next possible reversal zone (PRZ) well head of the move.
This script can be utilized for :
This indicator lets you see when a trend may be exhausted and require consolidation, as well as choppy trading zones.
When the oscillator is in the bottom bar, the price is in a chop zone. When it reaches the top bar, it is due for consolidation.
This is another implementation of the Chop index that also has a smoothed chop.
Marked for more visibility the extreme and danger zone crosses.
Colored areas for better visibility.
Added alerts on danger and extreme zone crosses (up/down).
!!! Don't use it as RSI to see overbought and oversold