JustUncleL

Big Snapper Alerts R2.0 by JustUncleL

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:

Inspiration from @vdubus

Big Snapper's Bollinger OutsideIn Swing filter in Action:
הערות שחרור: 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.


הסר מסקריפטים מועדפים הוסף לסקריפטים מועדפים
JustUncleL
Hi, is there anyway to prevent the repainting due to large moves?
+1 השב
JustUncleL blackboxtechnologies
@blackboxtechnologies, The indicator does not use any forward looking data, so it should not repaint on closed candles, it may rebuild on the current building candle but that is not repainting as the candle has not closed yet.
+1 השב
Good job JustUncleL !
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thanks again JustUncleL!
+2 השב
Awesome indicator!
Although it not always closes the long or short signals.
Often I see a double long signal.
השב
@normanu, You mean in the Alarm system. This is a Tradingview alarm system issue, I have raised this issue with Tradingview some time ago, but so far has not been resolved.
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normanu JustUncleL
@JustUncleL, hi! not only in the alarm system, also on the graphs.
Sometimes you see a double green, but never the red while it went down in the mean time.
השב
thank you for this indicator, it is useful, but is there a way to include the RSI with this indicator, I think the RSI will work better for BO.

thank you.
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@nine007, RSI could be added, but what RSI technique would be suitable? OB/OS or above/below 50 or some other technique? Also RSI itself is already reflected in the MAs movements, so I don't see a big advantage.
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if I am using this strategy with binary options what time frame and expiry should I use?
השב
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