This is combo strategies for get a cumulative signal.
First strategy This System was created from the Book "How I Tripled My Money In The Futures Market" by Ulf Jensen, Page 183. This is reverse type of strategies. The strategy buys at market, if close price is higher than the previous close during 2 days and the meaning of 9-days Stochastic Slow Oscillator is lower than 50. The strategy sells at market, if close price is lower than the previous close price during 2 days and the meaning of 9-days Stochastic Fast Oscillator is higher than 50.
Second strategy Developed by Dr Alexander Elder, the Elder-ray indicator measures buying and selling pressure in the market. The Elder-ray is often used as part of the Triple Screen trading system but may also be used on its own. Dr Elder uses a 13-day exponential moving average (EMA) to indicate the market consensus of value. Bull Power measures the ability of buyers to drive prices above the consensus of value. Bear Power reflects the ability of sellers to drive prices below the average consensus of value. Bull Power is calculated by subtracting the 13-day EMA from the day's High. Bear power subtracts the 13-day EMA from the day's Low. You can use in the xPrice any series: Open, High, Low, Close, HL2, HLC3, OHLC4 and ect...
WARNING: - For purpose educate only - This script to change bars colors.
nice explanation. Thank you @HPotter is this script only works for future market? tested it on ASX S&P200 for Australian market and doesn't seems to give any signal...
It changed the colour of the chart, but no enter/exit or buy/sell signal generated. Thought anyone? Cheers!!
Gayel
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Great chart.thanks
AmyLand
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Excellent Analysis And very well explained..interesting things
It changed the colour of the chart, but no enter/exit or buy/sell signal generated. Thought anyone? Cheers!!