The WOTS Forex Indicator gives you a true picture of the market entry points, after a scan it performs every period (after every candlestick closes) . It is pretty straightforward in its use with clear visual representation of the entry and exit points provided by the indicator. This allows you to make improved entry and exit points either you're going long or short on any Forex pair you like, and accommodates many trading styles, systems, and strategies. It will work along most TradingView indicators and the timeframes we recommend you using it are the 30M, 1H and sometimes the 4H chart. The specific components of the indicator are:
Methodology:
The indicator uses a MACD oscillator to determine the local trend direction and to give buy & sell signals when its conditions are met.
An optional build-in indicator, exponential moving average cross (EMA cross), can be used to filter out 'false' signals.
The calculation of the entry points are drawn from universal prices that fit every pair in the Forex market you may choose.
Persistent variables are used for buy and sell prices, enabling color-coding of the signals (profitable or not).
Features:
Color coded labels - Buy & Sell
Four types of entries - Bull Buy = orange, Scalp Buy = green & Bear Sell = purple, Scalp Sell = red
Universal prices fitting all Forex pairs
Four Buy and Sell signal alerts
Remarks: In our experience and recommendation, the values used work best on the 30-minute & 1-Hour timeframes. We encourage everyone to experiment the best results we had, were on this specific timeframe, higher or even lower. Using the indicator on non-standard charts (Heikin Ashi, Renko etc.) can produce unrealistic results.
- Thanks to John Aslanis and Alexandros Temelkou the idealists and creators of this indicator.
Use the link below to watch a tutorial video, request a trial, or purchase for access
Notes de version
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Updated user inputs to make the indicator faster and more reliable. Added a volatility calculation index based on a collection of 10+ indicators to filter the entry points even better! Kept the colors and Alerts that you all are used to, so you keep on having the same great user experience. Enjoy.