This indicator is a Super Guppy version of standard Guppy GMMA as used in "CM_GUPPY_EMA Revised R2 by JustUncleL". Guppy MAs are designed to capture the inferred behaviour of traders and investors by using two groups of averages. In this version of Super Guppy Traders Group of EMAs are:
EMA3 to EMA23 step 2 (Aqua=Uptrend, Blue=downtrend)
and Investors Group EMAs are:
EMA25 to EMA70 step 3 (Lime=Uptrend, Red=downtrend)
(Gray=Trend not established or in a Pull Back).
The idea of Guppy EMAs is to use fractal repetitions to identify points of agreement and disagreement which precede significant trend changes. For further info on how Guppy/Super Guppy can be used in trading please refer to http://www.guppytraders.com/gup329.shtml and many other articles available on the subject.
This indicator provides the following :
Swing Arrow Alerts (Red for Sell and Green for Buy) to indicate PullBack entries after new trend has been established. Also have option to wait for both fast and slow to completely separate (Confluence). Another option is to show alerts when show arrows when Candle colour changes, this is handy when using Heikin Ashi or Renko Charts.
Trend Break Arrow Alerts (Blue for Sell and Aqua for Buy) to indicate entries for aggressive trend swing point and is calculated by cross over of the average Traders EMA with the average Investors EMA. This was suggested option by Guppy.
Anchor Time frame (0=current), is the time frame that the Guppy EMAs are calculated for. In this way the 60min Guppy can be viewed on say 15min chart and help with setting up tighter Stop Loss conditions.
Alert conditions are also created for the TradingView Alarm subsystem. Only alerts for the selected alert options are generated.
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Update R1.1
Added changes to limit the number of Alerts that occur close together.
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... Minor Bug Fixes
Fix bug in Anchor calculations when chart Time frame not intraday (ie Daily, Weekly, Monthly).
Fix bug in Break Arrow calculation, was signalling when Investor MAs had not started to change direction yet.
Fixed Traders group to start colouring to start before Investors Group, rather than together.
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Update R1.2
Fix bug in 1st pullback arrow calculation.
Added option to display candle colours relative to Guppy Trend indication.
Change Anchor to be based purely on Minutes, so 1 month=30240mins (21 trading days), 1 week=7200mins (5 trading days), 1 Day=1440mins. This makes it more consistent across intraday and extraday chart Timeframes.
Hi JustUncleL, a simple question but very important, what trigger the Swing Arrow Alerts (Red for Sell and Green for Buy)? it happen when both ema groups finish compression and start the decompression ?
SkyyartTV
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very good job, really do appreciate !! <3 keep the good work.
Sw1tchFX
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Man o' Man. Thank you for this JustUncleL. Not only did I learn A TON from you're code, but I was able to make some tweaks to improve it for my style of trading. This thing is so good that I can still trade without any candles turned on. Thank you Sir, for the indicator, but especially from the knowledge gained in publishing this open source. Cheers
hi sir can this be used for scalping on lower time frames.
hjstephens09
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This works amazingly. Thank you for improving upon Super Guppy! I found this indicator to be more accurate than vanilla "CM Guppy EMA". On 8hr and Daily formats I wait for both the "trades" and "investors" to light up before preceding into the trade; there's normally a false breakout by the traders, a pullback, and then the investors get in!
JustUncleL
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@hjstephens09, Your welcome, this has been one of my favorite tools for analyzing the higher time frames. I believe trading with the overall trend direction should give better results on the higher time frames, particularly catching it just after a new trend direction is established.