This indicator is based on the "Vegas Tunnel" system from FTMO, please check out their site here for some good documentation: ftmo.com I give FTMO full credit for this indicator, all I did here was make it easy to throw it up on a chart. Personally, I've had some success trading with this method. I encourage doing some back and forward testing to see if it is...
This indicator plots a base EMA and then plot many lines above and below according to the Fibonacci levels, creating a tunnel where it is possible to see the price respecting some levels. It is similar the concept of Vegas Tunnel, but with my numbers. The Base EMA is 26 for daily charts and 8 for Weekly charts. The smaller timeframes use a variation of 26, like...
High - Low Trend Tunnel Experiment. Using latest pinescript Array support! Plotting Highest highs and Lowest lows for specific length (can be defined in settings). The blue line is whom determinate the direction. Blue line is the average of the highest highs and lowest lows smoothed by EMA. Green - Up Trending. Red - Down Trending. Yellow - Squeeze, a...
Using the new 'pinescript' array support to build an High/Low tunnel meter. Using the Array to save only X HIGHEST HIGHS and Y LOWEST LOWS. By the X and Y i build a tunnel - X is the top line (highs) and Y bottom line (lows) Green - Up Trending Red - Down Trending Yellow - Reversal / drawback might occur.
One of the most accurate trend following indicator I have used till now. You yourself can test it by using on multiple charts and time frame. However, I have found it more accurate on intraday charts, may be 5 min & 15 min TF. Highlights are: > High Prediction rates > Non repainting > Can be used on MTF > Simplicity > Give stoploss levels Disadvantage: ...
Step 1: Create a 1 hour chart on whatever currency pairs interest. I personally use MT4 platform on Oanda to follow my trades. Overlay 3 time periods: 169 EMA, 144 EMA and a 12 period EMA ( all 1 hour.) The 144 and 169 EMA’s create the tunnel. The 12 EMA is the filter and crossover indicator. Step 2. Fibonacci numbers are very crucial to trading with the tunnel...
The bronze edition of my code will be the most basic of a series of Vegas Wave codes which I will publish. EMA 144, 169, 233 Vegas Tunnel - Highlights the price band between the 144 and 169 EMA. Identifies support and resistance areas Target price bounces and aid identifying EW counts. Wave 2 retrace through the waves. Wave 4 bounce off Vegas Tunnel for...
Easy Wave Tunnel Wavy Line ; ema34 3 lines = High, Close , Low Tunnel Line ; ema144 , close and ema169, close 5 Rules to use WaveTunnel 1. Wavy Lines and Tunnel Lines are the natural Resistant and Support line. 2. Price above both Wavy & Tunnel = Uptrend , Price below both Wavy & Tunnel = Downtrend 3. Break Wavy Line , price run to Tunnel Line 4. Not...