Welcome to the world of BW Zone Trading! This modified indicator is based on Bill Williams' zone trading principles and offers a fresh take on the classic trading tools.
Unlike the standard Awesome Oscillator (AO) and Accelerator Oscillator (AC), this indicator gives you the flexibility to set your own calculation price and periods for the fast and slow moving averages (MAs) used in the AO calculation. You can also adjust the smoothing period and choose the method for AC calculation. Plus, you can filter using both indicators or just one. It's all about what works best for your trading style!
Here are the six key input parameters to get you started:
- AO Fast MA Period: This is the fast MA period used for AO calculations.
- AO Slow MA Period: This is the slow MA period for AO calculations.
- AO Applied Price: This is the price of the MA used in the AO calculations.
- AO Calculation Method: Choose your preferred MA method for AO calculations.
- AC Smoothing Period: This sets the smoothing period for the AC calculations.
- Filter Type:
- By AO and AC: Filter zones using both AO and AC.
- By AO: Filter zones based solely on AO.
- By AC: Filter zones based solely on AC.
This indicator is visually represented in a separate window as a candlestick chart, with colors indicating different zones:
- BUS Zone: Green
- SELL Zone: Red
- Neutral Zone: Gray
Not only that, but this indicator comes equipped with four buffers that can be utilized within an EA:
- Buffer 0: Signal Up - This buffer has a non-empty value when transitioning from a non-bullish to a bullish zone.
- Buffer 1: Signal Down - This buffer has a non-empty value when transitioning from a non-bearish to a bearish zone.
- Buffer 2: Bullish Zone - This buffer has a non-empty value across all bars in the bullish zone.
- Buffer 3: Bearish Zone - This buffer has a non-empty value across all bars in the bearish zone.
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