This is the Exit-Willy indicator. It issues Buy and Sell signals based on exit data from different moving averages and the Williams Percent R. It also has a LSMA filter. All values are adjustable. I like to use it with a higher Exit value being as it filters some of the false signals. There are multiple different settings to change and alter.
@sasamruddhi24, hi, if you are still interested, i posted a comment about this
HankSailAway
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Hi, looks quite good but what is the intended timeframe for this? I guess it does not work the same on any... to me it looks a bit that exit signal is more trustworthy then buy, which is also useful for going short.
sharekingpro
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lot of times, it just not shows any signal even market moved a lot in opposite direction. happened with xauusd today. 1min timeframe.
fatihmertarslan01
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does it repaint?
barrettdenning
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@fatihmertarslan01, it does not repaint just wait until candle close for signal to be permanent.
I analysed this beatiful indicator a bit, here is what i found (currently only tested on BTC, but looks very promising for Forex as well): - its performance (predictive ability) declines with timeframes higher than 1h - it highly favors shorting --> around 85% of crashes are prevented with a loss of less than 20% of the total drawdown of the crash --> with bullruns however, this percentage is only at about 55% - it gets highly sensible when the price movement is small over a longer period of time - it is also highly sensible to arbitrage - i got different results on Binance than on Kraken - a backtest on a simple trading strategy (use only this indicator for opening long/short, stop loss is at the last swing high/low of the last 11 candles, use 1.5 ration between target and stop, 0.1% maker and taker fee, dont open a position if the potential win is less than the trading fees): --> the best timeframe, was 15m --> the short positions got an average monthly return of 4.1% --> the long positions an negative monthly return (on all timeframes), so i would not include them at all in a strategy
barrettdenning
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@dernickromant, Great I am glad this looks good to you. Let me know if you test it.