Elder Ray Confluence
- Индикаторы
- Версия: 1.0
- Активации: 5
Elder Ray Confluence MT5
Six readings. One confluence score. Clearer trading decisions.
Stop guessing from individual signals. See when market pressure, momentum, trend and divergence agree.
Elder Ray Confluence is a multi-signal technical indicator based on Dr. Alexander Elder's Bull Power and Bear Power approach.
Instead of relying on a single histogram or crossover, it combines six market readings into one directional confluence score, helping traders identify stronger setups, assess changing market conditions and recognize potential reversals.
Designed for traders who want clear visual analysis without unnecessary chart clutter.
Six Readings, One Clear Picture
Elder Ray Confluence examines six components:
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Bull Power — measures buyer pressure and whether it is strengthening or fading.
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Bear Power — measures seller pressure and changes in selling strength.
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Cross Signals — evaluates crossings between the indicator and its fast signal line.
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Divergence — identifies potential disagreements between price movement and indicator strength.
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Trend Alignment — evaluates agreement between the indicator, signal line and trend line.
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Momentum — tracks changes in directional momentum, including acceleration and slowdown.
The readings are combined into a weighted confluence percentage, providing a simple overview of directional conditions.
Strong BUY and SELL Arrows
Rather than placing repeated arrows on every qualifying candle, Elder Ray Confluence uses a signal re-arming system.
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STRONG BUY: Aqua arrow.
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STRONG SELL: Pink arrow.
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Signals are evaluated after candle close.
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Default signal threshold: 75%.
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Default re-arm threshold: 65%.
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A qualifying opposite-direction signal can begin a new run without waiting for the previous direction to re-arm.
This approach is designed to make strong-signal sequences easier to interpret and reduce repetitive arrows.
Enhanced Divergence Detection
The divergence system compares confirmed price swings with corresponding indicator readings.
Bullish divergence: Price forms a lower low while the indicator shows a higher low.
Bearish divergence: Price forms a higher high while the indicator shows a lower high.
Divergence can be displayed as colored lines connecting the relevant swings:
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Yellow: Bullish divergence.
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Magenta: Bearish divergence.
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Lines in the indicator window.
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Optional matching lines on the main price chart.
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Adjustable colors and maximum number of retained lines.
Swing confirmation requires subsequent closed candles. Divergence lines therefore become visible after the relevant swings are confirmed.
Live Confluence Dashboard
The built-in panel displays the current market bias and individual signal readings.
Each component includes a strength percentage and a descriptive status so you can quickly distinguish building pressure, fading momentum, trend agreement and potential directional changes.
The panel updates with current market conditions, while strong-arrow calculations use closed candles.
Choose between detailed and compact display modes, adjust the panel position and font size, or display only active signals.
Additional Features
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Teal bullish and maroon bearish histograms.
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Orange fast signal line and dotted trend line.
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Configurable signal periods and sensitivity.
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Adaptive pressure thresholds for different instruments.
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Adjustable signal-strength and re-arming levels.
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Closed-candle strong-arrow logic.
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Configurable divergence visualization.
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Customizable confluence panel.
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Suitable for use across symbols and timeframes.
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No automatic trading or order execution.
Suggested Settings
The default configuration provides a starting point:
| Parameter | Default |
|---|---|
| Base period | 13 |
| Fast signal period | 2 |
| Slow trend period | 26 |
| Divergence lookback | 10 |
| Strong signal level | 75% |
| Re-arm level | 65% |
| Adaptive thresholds | Enabled |
| Slope period | 5 |
| Divergence price lines | Enabled |
| Maximum divergence lines | 100 |
Adjust settings to suit your trading instrument, timeframe and strategy.
Who Is It For?
Elder Ray Confluence is designed for discretionary traders who want to:
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Confirm directional trading opportunities using multiple readings.
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Identify strengthening or weakening buying and selling pressure.
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Recognize potential momentum exhaustion and divergence.
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Reduce chart clutter from repetitive entry signals.
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Combine indicator analysis with existing price-action, support/resistance or risk-management strategies.
Elder Ray Confluence is an analysis indicator, not an Expert Advisor. It does not place or manage trades.
Trading carries risk. Signals do not guarantee profitable outcomes. Test your chosen settings and strategy before using them in live trading.
