Understanding the Sacred Chao Indicator
"The Sacred Chao symbolizes everything you need to know about trading and maybe a bit more! It even represents the things that aren't worth knowing, highlighted by the empty space around the Hodge-Podge."
So, what does this unique indicator bring to your trading setup? Let’s dive into it:
- An Alligator: Comprising Jaws, Teeth, and Lips to help identify market trends;
- Bullish/Bearish Divergent Bars: These are the first Wise Man indicators, closing completely below or above the Alligator (think countertrend signals);
- Bullish/Bearish Super AO Signal: The second Wise Man, represented by three bars of the same color on the Awesome Oscillator, which indicates market momentum;
- Bullish/Bearish Fractals: The third Wise Man, showing fractals above or below the Teethline to highlight trends;
- Angulation Lines: These lines track price movements as they cross or peak the Alligator to connect with the first Wise Man;
- For the Pros: The angulation data is stored as a deviation in Points per Bar, though it's not displayed;
- Trailing Lines: Based on the highest high and lowest low over a specified number of bars;
- ATR Value: This is utilized for signals and trailing, adjusted by a specific factor.
The first published version, 0.2, includes all these features and is functional, though it’s not without its quirks. For instance, while it performs well on live charts, it may throw an ArrayOutOfRange error in the Tester. If you encounter any issues, don’t hesitate to report them—improvements are always in the pipeline!
If you're curious or confused, take a peek at the code first; it's well-commented to guide you through.
At the moment, there’s minimal error coding, but it’s up to you to input sensible arguments for optimal performance.
"Debugging? Klingons don’t debug. Our software doesn’t coddle the weak. Bugs are great for building character in the user."
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