I am playing around with your latest version of the set up with a couple changes and indicators for support and resistance and trend. I don't actually trade futures right now, but I am finding it is a pretty good play with SPY options (and VIX, SPY, Q's derivatives options). I also have support and resistance and zones off on a Quick chart so I combine all that date to play off support and resistance for entries and exits. Only a couple trades thus far but pretty good. Setup
https://tos.mx/CAGaCcZ
@BlueRaven Add another WTO study and double the Channel length and Average length just set arrows to be different size and color for you to see the difference. It seems to work.
Or try this, this is as close as I can get it at the moment.
https://tos.mx/7ksylPg This combines the 2 periods in one for a lower study. I want to actually plot divergence and signal when the next lowest is above the oversold or overbought. As divergences make better entries which matters more for options.
OOOOh. in love. So using the autotrend and plotting divergence on the WTO indicator on the 1000t with the second line being 2000t. It makes a lovely divergence indicator.
https://tos.mx/fOJZlJ0. So (in theory as i have not traded it yet) the big green arrow showed the buy signal on 2000t, then the small arrows showed buy signals on 1000t. then it touched support 3 times with the divergence, giving you a nice entry. Same on the turn down. Got a sell signal with the 1000t arrow, my trend showing price rising, then on R1 gave divergence on the 1000t (purple) and down she does breaking the rising wedge. the Entry 1 would be the one matching FE below 0, and a higher probability trade into change of momentum. (Just showing this on /Cl as where the divergence is evident on the time frame, the auto lines move as new data is presented)