ViPlay Signal is a trading indicator designed for the TradingView platform that generates buy and sell signals based on a combination of technical indicators. The indicator uses two different Moving Averages, the Market Range Oscillator (MRO), and the Williams Percent Range (WPR) to provide traders with a comprehensive set of tools for identifying potential entry and exit points, confirming trends, and managing risk.
The Moving Averages used in the indicator are the 50-period and 200-period Simple Moving Averages (SMA) of the closing price, which are widely used in technical analysis to identify trends and support/resistance levels. The Market Range Oscillator (MRO) is a proprietary indicator that measures the range of the market, which can help identify extreme market conditions. The MRO is used to determine buy and sell signals, with two different calculations performed to identify each type of signal.
The Williams Percent Range (WPR) is a momentum indicator that helps traders identify overbought and oversold conditions in the market. By using the WPR in combination with the Moving Averages and the MRO, the ViPlay Signal indicator can provide more accurate and reliable signals to traders.
The indicator allows users to select a strategy from a dropdown menu that includes BTC 1m, 3m, 15m, 4H, and LTC 3m, ideal 5m, and 15m super. The values of some of the parameters change based on the selected strategy, allowing traders to customize the indicator to their specific needs.
The ViPlay Signal indicator plots buy and sell signals on the chart as labels with arrows pointing up or down to indicate the direction of the trade. A green arrow represents a buy signal, and a red arrow represents a sell signal. The chart is clean and easy to read, with complete symbol/timeframe and script name information provided.
In summary, the ViPlay Signal indicator is a powerful and customizable tool for traders looking to improve their trading performance. The indicator provides a comprehensive set of technical analysis tools, including Moving Averages, the MRO, and the WPR, to help traders identify potential trading opportunities and manage risk.
The Moving Averages used in the indicator are the 50-period and 200-period Simple Moving Averages (SMA) of the closing price, which are widely used in technical analysis to identify trends and support/resistance levels. The Market Range Oscillator (MRO) is a proprietary indicator that measures the range of the market, which can help identify extreme market conditions. The MRO is used to determine buy and sell signals, with two different calculations performed to identify each type of signal.
The Williams Percent Range (WPR) is a momentum indicator that helps traders identify overbought and oversold conditions in the market. By using the WPR in combination with the Moving Averages and the MRO, the ViPlay Signal indicator can provide more accurate and reliable signals to traders.
The indicator allows users to select a strategy from a dropdown menu that includes BTC 1m, 3m, 15m, 4H, and LTC 3m, ideal 5m, and 15m super. The values of some of the parameters change based on the selected strategy, allowing traders to customize the indicator to their specific needs.
The ViPlay Signal indicator plots buy and sell signals on the chart as labels with arrows pointing up or down to indicate the direction of the trade. A green arrow represents a buy signal, and a red arrow represents a sell signal. The chart is clean and easy to read, with complete symbol/timeframe and script name information provided.
In summary, the ViPlay Signal indicator is a powerful and customizable tool for traders looking to improve their trading performance. The indicator provides a comprehensive set of technical analysis tools, including Moving Averages, the MRO, and the WPR, to help traders identify potential trading opportunities and manage risk.