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Hello,
I have 1 request of correcting 1 pre-made indicator as I described here.
Firstly, take a look at below, image, please.
As you can see, there are “2 Turncoat Res” on chart.
1st “Turncoat Res” from top shows “Turncoat Top Box Upper = 1.31721 and Turncoat Top Lower = 1.31687”.
And 2nd “Turncoat Res” from top shows “Turncoat Top Box Upper = 1.31681 and Turncoat Top Lower = 1.31675”.
And current price is below “2nd Turncoat Res”, which shows “Turncoat Top Box Upper = 1.31681” and “Turncoat Top Box Lower = 1.31675”
For now, 2nd “Turncoat Res” should be “Common Top Box Upper and Common Top Box Lower”.
But it shows “Common Top Box Upper = 1.31875 and Common Top Box Lower = 1.31862”.
The values of 1.31875 and 1.31862 are for Weak Res.
Finally, it should show “Common Top Box Upper = 1.31681 and Common Top Box Lower = 1.31675”.
There is another example for this issue.
Take a look at below image, please.
There is Turncoat Res on chart that shows “Turncoat Top Box Upper = 1.30570 and Turncoat Top Box Lower = 1.30547”.
These values should be “Common Top Box Upper and Lower”, but it shows “Common Top Box Upper = 1.30685 and Common Top Box Lower = 1.30676”.
Finally, it should show “Common Top Box Upper = 1.30570 and Common Top Box Lower = 1.30547”.
Take a look at below image, please.
As you can see, there are 2 “Turncoat Sup” on chart and it shows wrong values.
I think 2 “Turncoat Sup” were changed from “Turncoat Res” as followings below.
1. Turncoat Res when price breakout on the 1st previous candle
=> (then)?2. Turncoat Sup after few bars
Now, it shows “Turncoat Sup” on chart, and the values of current “Turncoat Sup” should be read as “Common Bottom Box Upper and Lower” since the values (“Common Bottom Box Upper and Lower”) are kind of Support.
And I checked this issue few times, and finally got few results.
Weak Sup / Res can be read as Common Top / Bottom Box Upper / Lower ? it works fine.
Untested Sup / Res can be read as Common Top / Bottom Box Upper / Lower ? it works fine.
Verified Sup / Res can be read as Common Top / Bottom Box Upper / Lower ? it works fine.
Turncoat Sup / Res cannot be read well as Common Top / Bottom Box Upper / Lower ? it does not work properly.
For “Turncoat Sup / Res”, it usually happen few times as followings below.
1. Weak (or Untested or Verified) Res =>?2. Turncoat Res after breakout =>?3. Turncoat Sup =>?
4. Verified Sup after price_low touched the area (from Upper value to Lower value) of Sup.
The issue can happen in process 2 and 3.
Because if it cannot display right “Common Bottom Box Upper and Lower” values, we can’t check if price touched the area (Upper to Lower value) of Sup or not in step 3 (Turncoat Sup).
Finally, it should display right “Turncoat Sup” values to check if price touched the area or not.
If price touched the area of Sup, then this “Turncoat Sup” will be “Verified Sup” later.
So, in this case, it needs right values of “Turncoat Sup”.
For more details, take a look at my attached document, please.
Thanks in advance,
David