Wise Men Indicator demo
The indicator displays signals according to the strategy of Bill Williams on the chart.
Demo version of the indicator has the same features as the paid, except that it can work only on a demo account.
- Signal "First Wise Man" is formed when there is a divergent bar with angulation. Bullish divergent bar - with lower minimum and closing price in the upper half. Bearish divergent bar - higher maximum and the closing price at the bottom half. Angulation is formed when all three lines of Alligator are intertwined, and the price has gone up significantly (or downwards). A valid bullish/bearish divergent bar (B/D/B) must satisfy AO (Awesome Oscillator): Bullish d/b - AO red below "0", Bearish d/b - AO green above "0".
- Signal "Second Wise Man": shows where you need to increase the position if the momentum continues to grow in the chosen direction. (Determined by the indicator Awesome Oscillator (AO)).
- Signal "Blue Light Special" (BLS) - shows the point of entry into the market at a lower price than at the moment of the signal.
- Signal "Third Wise Man" - is the third point of entry into the market accordingly to the Bill Williams strategy. When the price moves in the direction of the trend fractal breakout is an important signal. Formed and implemented only after the first two "wise men".
- Signal "Fractal breakout" - a fractal signal, which is generated outside Alligator. May be the first signal.
- Indicator displays on the chart Angulation lines (if it occurs ) when a divergent bar appears. That allows You to visually determine the degree of divergence of prices and Alligator.
Filtering of B/D/B on fractals allows you to find more accurate entry point. In the settings provided the appropriate radio button.
- The digit "1" in a green circle - a bullish divergent bar (in red circle - bearish divergent bar);
- The digit "2" in the circle of green - signal "Second Wise Man" for long position (in the red circle - a short position signal);
- Square green - signal "Blue Light Special" for long position (red - for short position);
- The digit "3" in the circle of green - signal "Third Wise Man" for long position (also signal "Fractal breakout") (in the red circle - a short position signal).