OneWayTicket indicator is based on CCI indicator. In fact, it analyzes multiple CCIs from several timeframes. There are four Ways of OneWayTicket, read from left to right - 15 min, 30 min, 1 hour and 4 hours.
The idea is to enter the market when all four CCIs agree on a trend. A trader chooses which timeframes to monitor. When all four ways of the OneWayTicket are green - Buy. When all four ways of the OneWayTicket are bright red - Sell.
Original idea from the author: tageiger, revised for the new MetaEditor version by Assassin.
You can switch on from the parameters Std.Reg.Channel by "true".
This version of OneWayTicket has additional horizontal lines across the Ways, called "Gas Station". Gas Station shows where the price can trip off - at support/resistance levels. Again we have different support/resistance levels for different timeframes (different ways).
- CCI periods have to be same (default are all 50):
- cci_applied_price: Default is PRICE_TYPICAL.
- Use_Std_Reg: Draw Std.Reg.Channel on the main chart window if it is true.
- STD_Rgres_period: Zero means the current chart timeframe.
- STD_Rgres_length: Default is 56.
- STD_Rgres_width: Default is 1.618
- STD_width: Default is 0.618
- Moving Averages for "Gas Stations" periods. They show support and resistance levels on the "ways":
- ma_applied_price: Default is PRICE_OPEN
- ma_Method: Default is MODE_SMA