Be warned, this indicator will unlikely be effective if you just load it and see what it has for you. It generally requires tuning, quite a bit of time, and a methodical approach but you might get lucky!
So why make something that's complicated and difficult like this? Simple, I've yet to find another indicator that can discern ranging like this one once tuned. I generally use to avoid trading when it's ranging.
The basic approach that has worked for me so far in tuning is as follows:
Generally I found that any value other than zero doesn't make sense for "Slope 1" however the others seem to be fair game although I generally have found that "Slope of Slope Avg 23" doesn't add anything once the others are set.
You may find a completely different approach and better way! If you do please do leave a comment, drop me a note or something as I would appreciate learning better ways to use this indicator.
Because there's too many lines to be shown all at once, 10 in all, it's generally better to just leave the show settings as they are and see the collective effect as a single background color. However, if you want to experience some pain feel free to uncheck "As one color" and play around with the other settings as well.
The indenting of the "Show" settings (setting 2, 3 & 4 from the top) are to show that the one most indented will override the ones above it. Again, this is for the sanity of not showing 10 lines at once so what you see is grouped but mostly I just look at the background color and don't worry about the lines. If none of the three are checked then you will just see the HMA lines from which all the others are derived. The bottom-left corner will name which group of lines you are looking at so you don't have to check your settings to figure it out.
That said, maybe some clever person will find an alternative use for it, perhaps something useful in the lines crossing when setup a particular way or something which is why I left options to see the lines.
For clarification of the "Show" settings hover over the circled 'i' at the right of each setting.
If you find value please do make a comment, give thumbs up etc.
Enjoy and good luck!
So why make something that's complicated and difficult like this? Simple, I've yet to find another indicator that can discern ranging like this one once tuned. I generally use to avoid trading when it's ranging.
The basic approach that has worked for me so far in tuning is as follows:
- Set "Slope of Slope 2" and "Slope of Slope 3" to about 3.5.
- Try to keep them mostly even and move them up and down for your environment while keeping an eye on how much ranging it's detecting.
- When you have it about right try adding in the other threshold options (bring them up from 0) and see if they help detect more ranging.
Generally I found that any value other than zero doesn't make sense for "Slope 1" however the others seem to be fair game although I generally have found that "Slope of Slope Avg 23" doesn't add anything once the others are set.
You may find a completely different approach and better way! If you do please do leave a comment, drop me a note or something as I would appreciate learning better ways to use this indicator.
Because there's too many lines to be shown all at once, 10 in all, it's generally better to just leave the show settings as they are and see the collective effect as a single background color. However, if you want to experience some pain feel free to uncheck "As one color" and play around with the other settings as well.
The indenting of the "Show" settings (setting 2, 3 & 4 from the top) are to show that the one most indented will override the ones above it. Again, this is for the sanity of not showing 10 lines at once so what you see is grouped but mostly I just look at the background color and don't worry about the lines. If none of the three are checked then you will just see the HMA lines from which all the others are derived. The bottom-left corner will name which group of lines you are looking at so you don't have to check your settings to figure it out.
That said, maybe some clever person will find an alternative use for it, perhaps something useful in the lines crossing when setup a particular way or something which is why I left options to see the lines.
For clarification of the "Show" settings hover over the circled 'i' at the right of each setting.
If you find value please do make a comment, give thumbs up etc.
Enjoy and good luck!