[RS][UNTESTED]CAP Fibo Channel V2
V2 of previous CFC, added optional bull/bear squeeze.
squeeze can get a bit messy on extremely oversold/overbought markets like currently USDJPY in 1 hour timeframe, or any currency on low time frame during high volatility.
squeeze can get a bit messy on extremely oversold/overbought markets like currently USDJPY in 1 hour timeframe, or any currency on low time frame during high volatility.
Notes de version:
Update for V5:
Channel centered around the cumulative average price(CAP) and using the average difference of high/close/low CAP's
to generate a action zone over the Price Action(PA), so that PA can be assimilated faster.
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Note: this works better on ranging markets, as a strong rising trend tends to stay above average and falling trend
tends to stay bellow average. there's a bit of a mental process to assimilate that.
Channel centered around the cumulative average price(CAP) and using the average difference of high/close/low CAP's
to generate a action zone over the Price Action(PA), so that PA can be assimilated faster.
---
Note: this works better on ranging markets, as a strong rising trend tends to stay above average and falling trend
tends to stay bellow average. there's a bit of a mental process to assimilate that.