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Angulation Demo

This indicator is a light version of Angulation.

According to Bill Williams' trading strategy described in the book "Trading Chaos: Maximize Profits with Proven Technical Techniques" the indicator displays the following items in a price chart:

1. Bearish and bullish divergent bars:

  • Bearish divergent bars is colored in red or pink (red is a stronger signal).
  • Bullish divergent bar is colored in blue or light blue color (blue is a stronger signal).

2. "Angulation" formation.

3. The level for placing a pending order (displayed as a dashed line).

Angulation is formed by divergence of two lines:

  • Price line. It passes through the borders of bars. Lower borders of bars are used during upward motion and upper borders are used during downward motion.
  • Balance line. It passes through the Alligator jaw (blue line).

Angulation is formed after forming a divergent bar outside the Alligator jaw.


Start Settings

  • Max Bars – number of bars calculated on the chart;
  • Add Alligator On Chart – add Alligator indicator on the chart automatically;
  • Set Divergent Bar – settings for divergent bars;
  • Show Divergent Bar – display divergent bars for which the Angulation hasn't been formed;
  • Divergent Bar Alert – use alerts for divergent bars;
  • Set Angulation – settings for Angulation;
  • Angulation Aler – use alerts for Angulation;
  • Check Awesome Oscillator – check the values of Awesome Oscillator histogram according to Bill; Williams' trading strategy;
  • Check BW MFI – use the filter by BW MFI histogram;
  • Applied Volume BW MFI – volume type used (for BW MFI);
  • Min duration of Angulation – minimum formation duration (possible minimum = 2);
  • Max duration of Angulation – maximum formation duration;
  • Set Line Color – price and balance line color and style settings;
  • Price Line Color – price line color;
  • Balance Line Color – balance line color;
  • Style Line – line style;
  • Width Line – line width;
  • Set Order Level – pending order level display settings;
  • Show Order Lever – display the level for placing a pending order (the level is set without considering spread);
  • Buy Stop Order Level – color of "Buy Stop Order" level line;
  • Sell Stop Order Level – color of "Sell Stop Order" order line;
  • Style Line – line style;
  • Width Line – line width.


Light Version

Function
Angulation Light
Angulation
Simple algorithm (simple drawing of balance line)
Yes
Yes
Advanced algorithm (drawing balance line and determining parallel movement)
-
Yes
Comments on the reason of skipping a divergent bar
-
Yes
Calculation of the speed of divergence
-
Yes
Displaying the speed of divergence on the chart (next to the divergent bar)
-
Yes
Filter by the speed of divergence
- Yes
Filter by BW MFI indicator 
Yes Yes
Alligator indicator settings
Default values
Yes
Setting an offset for the levels of orders: "Buy Stop Order", "Sell Stop Order" 10 points offset
Yes
Work timeframes
H4 only
All
Rodrigo da Silva Boa
7123
2016.03.12 21:44 
 

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Vadim Strelkov
7889
2014.03.28 13:43 
 

User didn't leave any comment to the rating