This is a diversified Binary Option or Scalping Alert indicator originally designed for lower Time Frame Trend or Swing trading. Although you will find it a useful tool for higher time frames as well.
The Alerts are generated by the changing direction of the ColouredMA (HullMA by default), you then have the choice of selecting the Directional filtering on these signals or a Bollinger swing reversal filter.
The filters include:
Type 1 - The three MAs (EMAs 21,55,89 by default) in various combinations or by themselves. When only one directional MA selected then direction filter is given by ColouredMA above(up)/below(down) selected MA. If more than one MA selected the direction is given by MAs being in correct order for trend direction.
Type 2 - The SuperTrend direction is used to filter ColouredMA signals.
Type 3 - Bollinger Band Outside In is used to filter ColouredMA for swing reversals.
Type 4 - No directional filtering, all signals from the ColouredMA are shown.
Notes:
Each Type can be combined with another type to form more complex filtration.
Alerts can also be disabled completely if you just want one indicator with one colouredMA and/or 3xMAs and/or Bollinger Bands and/or SuperTrend painted on the chart.
Warning:
Be aware that combining Bollinger OutsideIn swing filter and a directional filter can be counter productive as they are opposites. So careful consideration is needed when combining Bollinger OutsideIn with any of the directional filters.
Hints:
For Binary Options try ColouredMA = HullMA(13) or HullMA(8) with Type 2 or 3 Filter.
When using Trend filters SuperTrend and/or 3xMA Trend, you will find if price reverses and breaks back through the Big Fat Signal line, then this can be a good reversal trade.
Some explanation about the what Hull Moving average and ideas of how the generated in Big Snapper can be used:
Big Snapper's Bollinger OutsideIn Swing filter in Action:
ملاحظات الأخبار
⋅
Release R3.0
Added new Signal Type 5: Signals come from Fast MA crossing slower ColouredMA.
Replaced OutsideIn Coloured MA signals with those generated from the MA cross, this gives earlier entry points.
Added selectable colours for Big fat marker, the big arrows colours must still be selected in the "Style" parameters of the script.
Further Hints:
Try using SSMA instead of HullMA for signal line, it is similar to Hull but remains smoother at low lengths and also works well with the MA Cross signals.
For Binary Options/Scalping try MACross signals from ColouredMA = SSMA(14) and FastMA = SSMA(7) with a directional filter, eg EMA 89
Another BO/Scalper try OutsideIN:MACross ColouredMA = SSMA(14) and FastMA = SSMA(7) and Bollinger set to (14,2)
For Long term traders how about trying Swing trading with OutSideIN, same settings as above.
Will this strategy work on options like calls and puts. If yes then what time frame I should use?
molan2
⋅
Thanks for information, pls how can I get this indicator. It's urgent
SkyyartTV
⋅
thanks again JustUncleL!
MaxBiaggiRacer
⋅
JustUncleL..You're a legend. I am a newbie trader and have been on a demo account for 6 months now. This indicator is too good to be free!! I have tried every indicator imaginable, and have really struggled until I stumbled apon this snapper you created. Well done.. I'm scalping crypto on the 5m chart only and use your snapper together with stochastic and volume for additional confirmations. In reality I don't even need any additional confirmations, all I need is your coloured MA to change colour and it's a perfect entry signal. My settings are: colored MA is a ZEMA 5, fast MA is a ZEMA 8, medium MA is an EMA 20 and slow MA is an EMA 50. I use the 50 EMA only for trend confirmation. I have disabled all your other information including your buy & sell signals, that's how good your colored MA is for my entry triggers. Am I on the right track after changing your MA settings, or am I setting myself for a fall when I start trading my real account in a week's time?? Any feedback would be welcome..again, thanks for this awesome indicator, I am sincerely grateful.
JustUncleL
⋅
Here is a good trade example using SNAPPER, you should aim for the the first couple of Pull backs/retracements after a new trend has started:
brytespeaks
⋅
Hi @JustUncleL, this is awesome. I am just trying to setup this Snapper you have here. Was wondering which OutsideIn you used for the signal filter option? Pls can you advise? thanks