najv wrote: ↑
Tue Aug 25, 2020 1:50 pm
The idea is to have more straight forward access to the information when the TDFI line changes its slope direction
- I think the local extremes -- when the slope changes from up to down or from down to up ( same thing when the derivation of the TDFI line crosses zero)
These extremes of TDFI might be good indicators for partial profit taking - red lines on my pictures.
When looking on my pictures, the green lines indicating local valleys - local minimum (also zero crosses on derivative of the TDFI) could be used as add in points for already running trades.
There are of course some noise signals - so all the mtf and filtering options should be kept.
I cant tell right now if simple slope (=current value - previous value) or slope relative to value (= (current value-previous value) /current value) would be better. If possible allow both as options.
I think the result could be shown as a line or as a histogram with positive/negative (or rising-declining positive and rising- declining negative)
Zero cross signals are obvious I guess, more signals could be arranged later perhaps..
Anyway, if you happen to find this interesting enough to invest your time, I would be grateful.
In case this is too time-consuming, I have a simpler option: add rising/declining colouring option to the existing indicator attached. Something like the standard awesome oscillator has. That would still be useful and perhaps could prove the idea.
p.s. I see i missed some peaks and valleys in the drawings.. my mistake ... the idea would apply to those as well, it's not that I would not want those to be recognized