Floki Pole

The Floki Pole is a custom oscillator designed to provide clear buy and sell signals using a smoothed two-pole filter. Inspired by the concept of smooth market oscillations, it uses historical price data to generate precise entry and exit points.

Key Features:
Two-Pole Filter: A smoothing technique is applied to the price data, filtering out noise while retaining important trends.
Buy and Sell Signals:
A Buy Signal is generated when the oscillator crosses above a historical value and remains below zero.
A Sell Signal is generated when the oscillator crosses below a historical value and remains above zero.
Signal Precision: The indicator identifies precise crossover points, giving traders clearer entry/exit signals.
Previous Signals: Historical buy and sell signals are plotted as lines, showing past entries and exits to give context to current market conditions.
Color-Coded Oscillator:
The oscillator itself is color-coded based on market trends:
Green for an uptrend (buy signals).
Red for a downtrend (sell signals).
How It Works:
The Floki Pole works by applying a two-pole filter to a normalized version of the price data (the difference between the current price and its moving average). This results in a smoothed version of the market movement, which helps highlight significant trend reversals.
When the oscillator crosses a specific threshold (either moving above or below the signal line), it triggers a buy or sell signal, which is visually marked on the chart.
The previous buy and sell signals are retained and shown as lines, allowing traders to observe past performance and trends, aiding decision-making.
Ideal Use:
The Floki Pole is suited for traders looking for a more precise entry and exit mechanism based on trend changes.
It can be combined with other indicators like moving averages, RSI, or Bollinger Bands for enhanced analysis.
Benefits:
Clear Trend Identification: Quickly identifies when market trends are shifting, helping traders stay aligned with the dominant market direction.
Historical Context: By displaying previous signals, it helps traders see how the market behaved at specific points in time.
Customizable: The indicator allows you to fine-tune the smoothing and filtering parameters to better suit different market conditions.