anthonycrudele

Beacon - Anthony Crudele's Indicator

Beacon uses the current volatility of the market based on your trading time frame to determine support and resistance levels, whether a trend is intact or ready to revert back in the range. One of the most difficult things I went through as a trader was determining whether we are in a trend day or if we are in grind up or grind down mode. I created Beacon to give me a simple look at the market to determine what type of environment we are in. I use Bollinger Bands (3 standard deviation) to determine the volatility cycle. Once the BB make peaks I took my Fibonacci Retracement tool and did a retracement from the peak high of the BB to the peak low. I use 70%, 50% and 30% for my support and resistance levels. I use those levels because I tested pretty much every percent level and those percentages averaged the highest performance on all tick charts and time charts. You can use Beacon on whatever time frame or tick chart you are trading on and it will determine that specific volatility cycle.
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코멘트

res- resistance
blue-support

whats yellow?

thanks
+3 응답
I generally like to add the ' resolution="" ' Property into my study, to make these things multi-timeframe. That's where the real magic happens.

e.g. study("Beacon - Anthony Crudele's Indicator", overlay=true, resolution="")
+1 응답
Price isn't normally distributed. It's also not mean reverting. Log returns are. That's where trend and mean reversion occur. It's the presence of autocorrelation. Maybe learn the basic things first. Check out Moments.
+1 응답
balipour balipour
Also, while we're at it, price moves in a geometric Brownian motion (2nd assumption of Black-Scholes fundamental hypothesis). "Support & resistance" is a meme from before the late 60s, when actual mathematicians entered the game. Only things like "Variance Ratio Test" prove it's not always a random walk. Another good one to check out and learn.

good luck.
+1 응답
@balipour, interesting stuff but I'll admit I don't understand much of what you got going on (my problem, not yours). But from all my years of trading "Support and Resistance" is simply where orders are resting and can be anticipated with a very high degree of accuracy using the book and volume profile. Not trying to troll but why complicate something so simple?
응답
balipour leveled_slope
@leveled_slope, the problem is those are the answers. More like evidence for the case. Also, the mathematical proofs make these statements facts. not what i say. the concepts im speaking of.
+1 응답
balipour balipour
@balipour, They're facts about price. For Brownian motion, its the best estimate that we know of. Generally, when it's properties and not estimates.
+1 응답
balipour leveled_slope
@leveled_slope, why are hedge funds paying for ur order flow, pretty sure the idea is anyone can just see "Support and resistance". So it's sorta like trying to tell a flat earther about the Gravitational constant. Go to my twitter, look at the chart that says "Geometric Brownian motion", there are 2 lines , see if you see areas of support and resistance, they are impossible to miss almost. Then come back tell me what you think. I'll walk you through it. Seriously.
+1 응답
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