Phaser [QuantVue]

15 May

The Phaser indicator is a tool to help identify inflection points by looking at price relative to past prices across multiple timeframes and assets.

Phase 1 looks for the price to be higher or lower than the closing price of the bar 4 bars earlier and is complete when 9 consecutive bars meet this criterion.

A completed Phase 1 is considered perfect when the highs (bearish) or lows (bullish) have been exceeded from bars 6 and 7 of the phase.

A bullish setup requires 9 consecutive closes less than the close 4 bars earlier.



A bearish setup requires 9 consecutive closes greater than the close 4 bars earlier.



Phase 2 begins once Phase 1 has been completed. Phase 2 compares the current price to the high or low of two bars earlier.

Unlike Phase 1, Phase 2 does not require the count to be consecutive.

Phase 2 is considered complete when 13 candles have met the criteria.

An important aspect to Phase 2 is the relationship between bar 13 and bar 8.
To ensure the end of Phase 2 is in line with the existing trend, the high or low of bar 13 is compared to the close of bar 8.

A bullish imperfect 13 occurs when the current price is less than the low of 2 bars earlier, but the current low is greater than the close of bar 8 in Phase 2.



A bearish imperfect 13 occurs when the current price is greater than the high of 2 bars earlier, but the current high is less than the close of bar 8 in Phase 2.



Phase 2 does not need to go until it is complete. A Phase 2 can be canceled if the price closes above or below the highest or lowest price from Phase 1.

Settings

• 3 Tickers
  
• 3 Timeframes
  
• Show Phase 1
  
• Show Phase 2
  
• User-selected colors