Cracking Cryptocurrency - Waddah Attar Explosion

Cracking Cryptocurrency - Waddah Attar Explosion

An entry indicator that analyzes momentum and volume . This indicator is very sensitive and works very well on lower time frames for scalping, and higher time frames for confirming explosive movements or shifts in trend or rising directional momentum in the market.

This indicator can be used as an Initiator, Confirmer, or Vol. Filter. It's multiple components make it an extremely effective tool in any trader's tool belt.


Features & Functions

This indicator can be customized by adjusting the sensitivity levels, lengths, and multiplier. However, I find that the settings that I have made as default work very well. However, as with all indicators, nuance and customizing your settings to your asset class and time frame will yield greater results.

False Positive Filter - Enabling this, as it is by default, will dramatically change this indicator's sensitivity. This is designed to analyze long-term momentum and reduce the occurrence of "false positives". However, the trade off will be reduced reaction speed.

Entry Strategy - Print alerts and trading signals for many different permutations of entry strategies available with this indicator. Explosion Level Crossovers, Color Flips, Rising Explosion Level Cross, and Rising Explosion Level.

Exit Strategy - Print alerts and trading signals for many different permutations of exit strategies available with this indicator. Explosion Level Cross, Receding Delta, Color Flip, Falling Explosion Level.

Bar Coloring - This indicator colors the bars to indicate a buy or sell signal, as well as printing Up and Down arrows in the indicator pane itself. This can be disabled in the settings window.

Alerts - This indicator is programmed with Buy and Sell alerts, available from the Alerts Window.

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Purpose

To identify likely turning points in the market, the existence of powerful momentum to confirm a directional bias, or the introduction of high volume or volatility into the market.

Notes de version:

//CHANGE LOG 1.5
//Following up on Don_Kandon's observation about display issues, I re-wrote the portion of the indicator that calculates the values of Waddah. I was able to make the math cleaner and the code much smoother, removing quite a few lines of unnecessary (now) code.
//This also has the effect of fixing the issue reported by users that bars are hard to see, or won't zoom on lower-time frames.
//Note for back-testers: the absolute values for 'Positive Delta', 'Negative Delta', 'Explosion Level' and 'Dead Zone' will now be different from historical values IF the False Positive Filter is enabled in Settings, however the signals (when and how they were generated) will be identical.