Market-Pip-Factory

Cipher Twister - Long and Short

INTRO / NOTES:
This script is based on Market Cipher B Oscillator by Falcon
The difference in this script is that only the useful points are printed on the indicator, namely Long and Short Trade Execution signals to be used by a bot, namely the PT Bot.
The script also differs from the original that it has been upgraded to Pinescript v4
This oscillator can be used with ALL time frames, but generally works the best on 15 minute and 1 hour charts on ANY market, no matter, stock, forex, crypto, spot, futures , derivatives, Nasdaq etc...

DEFINITIONS:
This oscillator forms the foundation of Buy and Exit of Long and Short Trades.
There are 2 'Red' Lines at the top of the channel and 2 Green Lines at the bottom of the channel.
These two channels are set at default to be +53 / -53 and +60 / -60 respectively. These two lines will serve as the threshold point if one is to make cautious trades only.

There is a center line which divides the Oscillator into two parts. Above the center line, the market is in over bought territory and Below the center line is in over sold territory.

'Red' dots are drawn by the indicator to represent a potential Short (or a signal to exit from a Long position)
'Green' dots are drawn by the indicator to represent a potential Long (or a signal to exit from a Short position)
The 'Red' and 'Green' dots are draw when a Cross between both wt1 & wt2 cross, thus providing a fantastic indication of potential trend reversal and entry/exit of a position.

STRATEGY NOTES:
The strategy to use this indicator with for realistic and proper results would be to use it with an automated Trading Bot such as Profit Trailer (PT-BOT)
You could use this strategy manually, however it would mean you would need to sit in front of the screen all day and night long and activate the trades immediately after the 'red'/'green' dots are drawn. Usually this will result in non-optimal entries and exits as well as loss on various instances when a 'red' and 'green' dot are printed close together (which is usually when the market goes into correction/consolidation) and slow entries/exits will result in a loss rather than a small profit or exit at BE (Break Even)

ACTUAL STRATEGY (For use with automated bot)
To be used in conjunction with Heikin Ashi Candles for added cautionary measures

For LONGs ONLY
--------------------
1/ When 'Green' dot is drawn, ACTIVATE Long Position
(Use 1.5% Risk Management for each trade)
(Use Lot size based on 1.5% risk management and xLeverage (if any))
2/ Make sure bot Opens an SL (Stop Loss) value based on 1.5% Risk Management
3/ When 'Red' dot is drawn, CLOSE Long Position.

*If you want to add extra caution to your trade, only activate the trade if the 'Green' dot is BELOW the 'Green' Markers
*For added caution, use color coded Heikin Ashi candles to 'confirm' Activation and Closing of a trade in the bot configuration
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For SHORTs ONLY
--------------------
1/ When 'Red' dot is drawn, ACTIVATE Short Position
(Use 1.5% Risk Management for each trade)
(Use Lot size based on 1.5% risk management and xLeverage (if any))
2/ Make sure bot Opens an SL (Stop Loss) value based on 1.5% Risk Management
3/ When 'Green' dot is drawn, CLOSE Short Position

*If you want to add extra caution to your trade, only activate the trade if the 'Red' dot is Above the Red Markers
*For added caution, use color coded Heikin Ashi candles to 'confirm' Activation and Closing of a trade in the bot configuration
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Supplementary Notes:
Make sure that your bot configuration will only activate ONE TRADE when the 'Green'/'Red' dot appears.
Occasionally during high volatility , 'red'/'green' dots will appear intermittently before remaining drawn, thus the oscillator 'redraws' the dots during market movement.
There will be times where occasionally a 'green' dot or a 'red' dot will appear, the trade will be opened, but the trade will fail due to the market manipulation (algorithm/market maker bots/fake volume etc), to wipe out those trading on derivatives and futures markets using leverage. Do not worry about this, no bot can make 100% wins, no strategy will achieve 100% win ratio and one necessarily doesn't need a high win ratio when using strict money management practices with your trading for SL and lot size.

If you use this method, you will see great results, but again I must stress, using this method with a fully automated bot is the only way to achieve proper results.
릴리즈 노트: Addition of credit
릴리즈 노트: Added Alerts and commented items for more detail
릴리즈 노트: * Changed some color values
* Modified alert function into 2 parts
* Separate LONG bot alert (Cross-Over)
* Separate SHORT bot alert (Cross-Under)
Note: To activate Alerts you must
1/ Click on Alert Icon then;
2/ Click on +Alert Icon
3/ Select CONDITION = "Cipher Twister"
4/ Underneath will be listed 2x alerts "Bot LONG Alert" and "Bot SHORT Alert".
Select the appropriate alert for your bot configuration (Usually separate for long and separate for short)
5/ Select OPTION "Once Per Bar"
6/ Then click on CREATE button
Now the alerts should be active and separate.
* Added draw Divergences with color coded Lines and Labels
릴리즈 노트: * Cleaned up code
* Fixed bug with alerts, now working correctly
Note: Make sure you set the option when creating the alert, to ONCE PER BAR CLOSE so it eliminates false crosses.
릴리즈 노트: Removed 2 lines.
릴리즈 노트: * Removed special conditions to fire alerts on every signal
릴리즈 노트: Resolved 2nd alert bug. Now all alerts working
릴리즈 노트: * Commented out signal activate on close of candle, to reduce the amount of loss during sideways price action.
* Yes sure, this will now give the problem of redraws, but it is mitigated significantly when using a tighter stop loss.
* 70% of the time, the market is in sideways movement, so it only makes logical sense to tweak the indicator accordingly for minimal loss.
* More updates to come as I test this with PT-Bot which is turning out to be very good.
릴리즈 노트: * updated credits
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