Librehash Double Guppy ChannelThis indicator is a slightly more advanced twist to the commonly used 'CM Super Guppy' and Madrid Moving Average Ribbon (MMAr), if you are familiar with it.
If not, please take a look at the pictures below:
Above is the CM Super Guppy
Above is the MMAR.
Core Difference Between the Zerononcense Double Guppy and the Two Former Iterations
The Zerononcense Double Guppy is a significant upgrade over both of the aforementioned indicators because it incorporates substantially more information for the user to make use of while trading.
1. The ZN Double Guppy creates a restrictive channel around the highs and lows of the price that imitate features of Donchian channels. Therefore, any and all trading practices that are asssociated with the Donchian can be applied here.
2. By implementing multiple moving averages for both the higher and lower end of the spectrum whilst providing a channel for the price at the same time, users are able to confirm trends easier and understand price direction as well as impending price action as well because the upper and lower bounds (two different colors) of the indicator will be providing traders information independent of one another, making this an infinitely useful tool to have in one's trading arsenal.
3. Perhaps the most awesome aspect of the ZN Double Guppy is that it confirms trend substantially earlier than the aforementioned indicators, and coding the upper and lower bounds separately allow for two layers of confirmation; making the indicator exponentially more powerful than its predecessors.
How to Read the Indicator:
This is simple.
A) The 'middle' part or the brown area is where the price's 'normal' trajectory is based on former price data (coded into the indicator).
B) If the price is either above or below these points, that represents an extreme in the data.
C) The colors change for the upper and lower bounds. For the upper bound, the default (neutral) color is blue. When a positive price trend is confirmed, the upper bound of the indicator will change to the color 'green'. The lower bound does the same thing. For example, the two colors of the lower bound indicator are 'purple' and 'red'. When the lower bound is showing 'purple', that is default (neutral). However, when it signals red, then the negative price action trend has been confirmed.
D) The indicator will never show both purple and green at the same time.
E) The indicator may, however, show both bounds in a neutral phase, this should be considered to be an abnormal level of consolidation and inaction in the price and other indicators should be consulted alongside this one in such situations.
F) This indicator is not meant to be predictive. However, it is definitely meant to assist with confirming trends. Although this is not the most glorious aspect of trading and it is oft underlooked, this is perhaps one of the most valuable and crucial facets of any experienced trader's repertoire. Without confirmation, one is subject to pivots, whipsaws, and other sharp market moves that may not be easily foreseen / anticipated without an indicator such as this one.
Interested in Using This Indicator?
If you're interested in using this indicator, just contact me on TradingView and we can talk. Please note that access to this indicator is not free.
Price and payment options (primarily crypto), will be discussed as well. Access is a very simple process.
Also, please do not hesitate to reach out if you have any doubts its going to work.
