INVITE-ONLY SCRIPT
Boom Hunter X
Updated
Boom Hunter X is built to target breakouts and explosive moves. The strength of this indicator is in slower timeframes like daily, weekly and monthly but it also works great on 4 hour timeframes. It is a modified version of Boom Hunter XL designed to be simple and easy to use. There are minimal settings available, aside from being able to choose the length of the oscillator there are 3 presets available. Preset 1 is the fastest and is great for targeting entries. Preset 3 is the slowest and is perfect for highlighting trends and setting up big moves. Preset 2 is somewhere in the middle and works great for entries and trend. To get a full picture of price action it is recommended to use all three indicators on your chart. The indicator will automatically adjust lengths when using weekly and monthly charts. If using faster timeframes try adjust the length to 6 or 9.
To get best results use Preset 3 to identify the trend of price action. When Preset 3 is in teal look for long entries on Presets 1 and 2. Likewise, when in red look for shorts. The best entries come from the first pullbacks. Below is an example of entering with the trend.
Using slow charts like weekly and monthly makes it easy to see what is happening with the markets. Below is an example of how easy it is to stay ahead of the curve and identify booms.
First pullbacks are signalled with outlined triangles: ▵▿
These signals are only available on preset 2 and 3. First pullbacks are picked up after price action breaks its median or dynamic median also known as OSC3 (OSC3 is hidden and works in the background), The strongest long pullbacks are when the oscillator is above the median and in the teal. Likewise the strongest short entries are when the oscillator is below the median and in the red. First pullback signals often signal the start of a new trend. Below is an example on a daily chart.
Breaks in support and resistance are signalled with white arrows: ˰˅
Preset 3 highlights the biggest breakouts while preset 1 will show the breaks within the breaks. Preset 2 provides a nice blend between the both and works great for targeting breakouts. It is not recommended to enter on the break as price action will come back to test. The first pullback after the break is typically the best and safest entry for breakouts. Below is an example of the break signal using preset 2 on weekly chart.
Breakout entries are signalled with teal and red triangles. Breakout signals filter price action for safe confirmed pullback entries. The slower the timeframe the bigger the breakout. Presets 2 and 3 are best for finding these entries.
Booms are signalled with this explosive icon: 💥
Simply put booms are polarity flips within the ticker signal. They are fast and explosive moves that can be detected using several different methods. Some of these boom signals are picked up using pure chart mechanics while others use filtering and signal processing to pinpoint the exact moment before an explosion. To make big moves the charts have to set it up first. Below is an example on a daily chart.
Boom Hunter X comes with the following alerts:
Overbought - Reversal attempt
Oversold - Reversal attempt
Long First Pullback - Only available on Preset 2 and 3
Short First Pullback - Only available on Preset 2 and 3
Pivot Up - Oscillator crosses over trigger
Pivot Down - Oscillator crosses under trigger
Long Breakout - Entry point for breakout
Short Breakout - Entry point for breakout
Break Support - Price action breaks its support
Break Resistance - Price action breaks its resistance
Boom! - Alerts for all the booms
Crossing Over Median - Price action enters top half of channel
Crossing Under Median - Price action enters bottom half of channel
To get best results use Preset 3 to identify the trend of price action. When Preset 3 is in teal look for long entries on Presets 1 and 2. Likewise, when in red look for shorts. The best entries come from the first pullbacks. Below is an example of entering with the trend.
Using slow charts like weekly and monthly makes it easy to see what is happening with the markets. Below is an example of how easy it is to stay ahead of the curve and identify booms.
First pullbacks are signalled with outlined triangles: ▵▿
These signals are only available on preset 2 and 3. First pullbacks are picked up after price action breaks its median or dynamic median also known as OSC3 (OSC3 is hidden and works in the background), The strongest long pullbacks are when the oscillator is above the median and in the teal. Likewise the strongest short entries are when the oscillator is below the median and in the red. First pullback signals often signal the start of a new trend. Below is an example on a daily chart.
Breaks in support and resistance are signalled with white arrows: ˰˅
Preset 3 highlights the biggest breakouts while preset 1 will show the breaks within the breaks. Preset 2 provides a nice blend between the both and works great for targeting breakouts. It is not recommended to enter on the break as price action will come back to test. The first pullback after the break is typically the best and safest entry for breakouts. Below is an example of the break signal using preset 2 on weekly chart.
Breakout entries are signalled with teal and red triangles. Breakout signals filter price action for safe confirmed pullback entries. The slower the timeframe the bigger the breakout. Presets 2 and 3 are best for finding these entries.
Booms are signalled with this explosive icon: 💥
Simply put booms are polarity flips within the ticker signal. They are fast and explosive moves that can be detected using several different methods. Some of these boom signals are picked up using pure chart mechanics while others use filtering and signal processing to pinpoint the exact moment before an explosion. To make big moves the charts have to set it up first. Below is an example on a daily chart.
Boom Hunter X comes with the following alerts:
Overbought - Reversal attempt
Oversold - Reversal attempt
Long First Pullback - Only available on Preset 2 and 3
Short First Pullback - Only available on Preset 2 and 3
Pivot Up - Oscillator crosses over trigger
Pivot Down - Oscillator crosses under trigger
Long Breakout - Entry point for breakout
Short Breakout - Entry point for breakout
Break Support - Price action breaks its support
Break Resistance - Price action breaks its resistance
Boom! - Alerts for all the booms
Crossing Over Median - Price action enters top half of channel
Crossing Under Median - Price action enters bottom half of channel
Release Notes
Introducing the next generation of Boom Hunter. All presets have been optimised and now are faster and more accurate. Zones and dynamic support and resistance bands have been added to preset 2 to help target entries and ride trends. Preset 1 is a brand new Boom Hunter oscillator that is high definition and ultra fast. It is so fast that the default length of 9 is faster than the original Boom Hunter XL oscillator at length 1. Preset 1 has the sole purpose of assisting entries. This configuration should only be used once you know what trade you are looking for. There is no need to look at it all the time which makes it ideal to live as a widget on the side of your indicator. Using this oscillator is the equivalent of looking at a faster timeframe and will help target accurate higher lows and lower highs. The smoothing used in this preset is based on a 3,6,9 concept by Nikola Tesla.
Preset 2 is the most versatile option and default for X. It is built on the Boom Hunter XL flat smoothing oscillator. Flat smoothing is the most neutral type of smoothing available for Boom Hunter. It is the perfect for finding tops and bottoms as well as setting up breakouts. This preset shows price action break through several key levels which gives several opportunities to find first pullbacks.
Preset 3 has the job of identifying trend and market conditions. It is the best oscillator for setting up big moves. This has the heaviest smoothing and uses the golden ratio to control the curve. All smoothing in BHX is done with an original and unique method within the oscillators formula which gives the benefits of smoothing but maintains its accuracy and reacts instantaneously with zero lag.
Signals for pivots include:
Gray Triangle: Pivot
Yellow Triangle: First Pullback
Teal triangle: Higher Low
Red Triangle : Lower High
Orange Triangle: Reversal
Release Notes
-Disabled widget modeRelease Notes
This updates main features include:- Pullback signals
- MTF Ability to set indicator to different timeframe
- Candle view for Preset 1, View the oscillator as a chart
- Ability to create widgets (with MTF)
- Added 3 Kernel regression lines. A big thanks to jdehorty for allowing me to use the code from his amazing KernelFunctions library. These lines are integrated to detect pullbacks and determine trends.
- Labels for pivots (HL, LH)
- Signals for theoretical pullbacks and breakouts
- Fixed missing labels and other backend work
Release Notes
Update includes several performance upgrades that dramatically speeds up loading times. - Also included is coloring options for pivot labels in the settings.
- Oscillator 2 is now enabled by default.
Release Notes
- Added improvements to first pullback signals - Added extra pullback options for preset 2 including unfiltered "1st pb", "Use p1" which picks up pullbacks using preset 1 and "filtered" which filters out pullbacks that are too far away or not clean enough.
- Added Fibonacci smoothing option for preset 2
- Added 2 new smoothing options for preset 3, "smoother" and "smoothest". These smoothing's give a stronger emphasis on highlighting trends
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