VR Crayons (Signals, Trend and Reversal Indicator)This indicator is a combination of many different basic technical analysis tools, such as RSI, Bollinger Bands, Moving Averages and others.
It's main goal is to provide a fast and reliable visual representation of the current price action and possible entry and exit points for trades.
Explanation of the individual functions:
The indicator includes 2 different functions:
1) The crayons (colors of the candles) show the current state of price action and trend
and can be used to find oversold or overbought areas as well price reversal points.
The colors can be turned off and/or changed in the settings.
2) The signals that can be used to enter or exit trades. There are 4 different types of signals:
Mini signals, high/low timeframe signals and special signals.
All of them can be turned on and off in the settings.
Further explanations
Crayons:
There are 3 general colors, gray, green and red.
Red signals a general downtrend,
Green a general uptrend,
Gray sideways action.
There are also multiple other colors to visualize special situations:
Blue signals overbought areas
Orange signals oversold areas
Yellow and purple signalling heavy oversold areas and a possible trend reversal to the upside
Dark Green signals heavy overbought areas and a possible trend reversal to the downside (Also marked with "R")
Lastly there are two special candle colors, dark red and light blue.
Those are volume weighted indicators of heavy dumping/pumping. I implemented them to signal higher than
average volume which dan be useful when looking for breakouts/-downs or to avoid fomoing into huge pumps or dumps
Signals:
As mentioned above, there are 4 different signal categories.
Signals for Lower Timeframes (5-30m) and Higher Timeframes (1h-D), special signals working on all timeframes
and mini signals which can be taken as TP points but also as entry points for trades.
The placement of the signals shows if it's a "BUY" (below the candles) or a "SELL" (above the candles).
Even-though signals are named "LTF signals", from my experience they can be used on all timeframes.
HTF signals do not work as good on lower timeframes.
For the best visualisation, disable candle borders in settings and turn the wick color to gray.
!! DISCLAIMER !!
All of these signals and bar colors are just visual helpers to find possible entry and exit points for your trades
and to get a quick overview of the current market conditions.
I would always recommend to use at least some basic technical analysis in combination.
And as always in trading, please use proper risk management! None of these signals can an will be 100% accurate!
!! All of these signals and colors are only valid AFTER candle close !!
!! This indicator is NOT repainting !!
Please don't use the comment section to ask for access to this indicator, you can always write me a PM.
WWG
The WWG Plan Indicator V2█ OVERALL
This indicator was specifically created for the Walsh Wealth Group.
In short it is a fusion of some of the most basic and widely used indicators to show overbought patterns and trend reversals.
Its best usage is with LTF scalping and agressive profit taking but can also be used to find HTF dips and buy-zones.
█ FEATURES
Buy Signal (Buy):
Printed only with all confirmations triggered
Small Buy Signal (B1 & B2)
Printed if some of the confirmations are triggered and can be treated as DCA entries or for further
confirmation with other indicators and basic TA.
Crayons (Color Bars):
Blue: RSI is oversold
Olive: RSI and Stoch RSI are oversold
Yellow: RSI, Stoch RSI are oversold and lower Bollinger Bands are crossed by Low
Orange: RSI, Stoch RSI and CCI are oversold
Trailing SL:
If activated in the config, a trailing SL can be displayed on the chart based on ATR.
█ SETTINGS
The underlying indicators used are RSI, Stoch RSI, Bollinger Bands, MACD and CCI.
All possible configs can be changed in the config settings.
█ GENERAL INFORMATION
Depending on the settings, the indicator performance will be highly affected.
This indicator is only displaying highly oversold areas and events of trend reversal it is not a *God*-Signal and will print false positives.
█ ALERTS
An alert for the main buy-signal is implemented and can be used via the TV alert functionality.
