Sensitivity to a price change: Black UO > Green UO > Red UO How to reach a chart using UO_3X indicator:
A trend can be considered as stable if Green UO crosses and stays above Red UO. Visually it will look like a green cloud.
During uptrend there is a tendency of Black UO to fluctuate above Green OU and especially above Red UO. Coloring it yellow.
First reversal signal of the uptrend would be if Black UO touches or crosses above Red Band.
Second reversal signal is when Black UO falls below Green UO.
As a result of second reversal signal, Green UO also declines and eventually crosses below Red UO which is the confirmation of upcoming general downtrend, coloring it red.
During a downtrend Black and Green UOs fluctuate below RED UO.
Once black UO crosses below Green Band, coloring it blue, the first signal of upcoming reversal of downtrend is established.
Second signal of reversal of downtrend would be is when Black UO crosses above Green and RED UOs.
Confirmation of uptrend would be if Green UO goes above Red UO coloring it Green.
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Responsiveness increased.
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Updated.
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Added visuals
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Updated to V5
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Overbought and oversold levels are dynamic now.
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Triple Cross UO arguments adjusted to most TimeFrames of all Financial Markets.
excellent work unique implementation. useful. Worth adding ths to the main screen.
Thanks for sharing.
fract
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@gb50k, Man, thank you! I really appreciate and respect your perspective.
It just takes to select the right TimeFrame to make it fully synchronize to the market pulse.
sahhil.beri
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During uptrend there is a tendency of Black UO to fluctuate above Green OU and especially above Red UO. Coloring it yellow.
Yellow is considered as continuation of uptrend or its a reversal of uptrend
Once black UO crosses below Green Band, coloring it blue, the first signal of upcoming reversal of downtrend is established.
Blue is considered as reversal of Downtrend.
& whats the best timeframe for this strategy?
Thanks for the amazing work
fract
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@sahhil.beri, any timeframe. The larger your timframe gets, the more black UO matters. In small TF you also pay attention to black UO, but the main focus should be on rest of UO's
LARC
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Thanks Fract!
dgmoon
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Great job sir. I am also preparing an indicator based on your uo with triple signal. I will post it shortly.
GoldenFib
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Many thanks for your efforts. The triple cross is one of my favourite indicators but I’m not sure if I’m liking the new version.
Would it be possible to get the code for version 3? I’d love to compare.
fract
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@GoldenFib, Trust me it's better, take my word for it. Try on more TFs.
unique implementation.
useful. Worth adding ths to the main screen.
Thanks for sharing.