Triple Cross UO

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.
  

Versionshinweise:

Responsiveness increased.

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Updated.

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Versionshinweise:

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.