mrtools wrote: Fri Apr 24, 2020 2:55 am
Was gonna make that a user choice but forgot,added it in this version, wish in mt4 you could have more than 1 color choice on levels.
Workaholic Mr Tools,
I've liked this indicator for a long time, now you have perfected it for 2 TFs.
I have a question, though:
if I look at the 2 standard inputs on WPR:
fast 14
slow 96
Question: which TF do you emulate with 96? That somehow doesn't make sense to me.
Say I trade on H1 using WPR 14 - if my reference TF is H4 shouldn't that be 56 instead of 96?
Say I trade on H1 using WPR 14 - if my reference TF is D1 shouldn't that be 336 instead of 96?
Nevertheless - if I compare the indicator values to my HMAs standard setup turning points are very, very close.
So: how to explain the riddle?
Thanks in advance for your answer.
As to the arrows:
it is only a suggestion but I don't think arrows on entering (or exiting) OB/OS areas are really a good solution.
Everybody seems to think so and most people trade that way BUT
I think the really interesting part (using this indicator you otherwise perfected) is SLOPE direction:
1. If slope of slow WPR is down, wait for fast WPR to move downward for sell.
2. If slope of slow WPR is up, wait for fast WPR to move upward for buy.
So basically what you want is a slow WPR filtered so that the price move slope is more or less one colour and then enter when the fast WPR changes to that colour (because it moves in the same direction).
But that's just a suggestion for you to think about - maybe you'll find it interesting.