amlan970

SKYNET buy/sell 2.0

The SKYNET buy/sell 2.0 indicator generates buy and sell signals based on the following conditions:

**Anchor line : This anchor line is calculated based on certain parameters.
The anchor line is calculated in such a way that the stock/instrument moves around this anchor line.

The calculation of the anchor line uses a look back period which is set to 9 by default. The user can go to the indicator settings and change it to suit their trading style.

Note:
1) As the look back period increases, the number of signals generated on the chart decreases.

2) This indicator will only work on charts/stocks/instruments which are actually traded in the market i.e actual contracts of the stock/instrument is traded in the market. Hence, it will not work on indexes.

BUY signal: When the stock/instrument deviates to the upside of the anchor line by a specific margin, the Buy signal is generated.

SELL signal: When the stock/instrument deviates to the downside of the anchor line by a specific margin, the Sell signal is generated.

Disclaimer: This indicator is not 100% accurate and false signals are generated from time to time. Trading in the markets involves huge risks and one should always do his/her own research before making any trading decisions. This indicator is only designed to help you make a trading decision.
Release Notes: **We have changed the default value for the "Anchor line lookback period" from 9 to 20.
Release Notes: **The indicator has been customized to work better on longer time frames.
Release Notes: ** The minimum value for the "Anchor line lookback" period was increased to 9.
Release Notes: ++ Trendline has been added to filter out false signals. A buy signal is valid if it is generated above the trendline and similarly a sell signal is valid if it is generated below the trendline. If the price moves away significantly from the trendline, it indicates strong momentum in that direction.

++ A time constraint has been added. The indicator script now runs between
9:30 to 1500.
Release Notes: ++ Minor bug fixed in the trendline code.
Release Notes: ++ Minor bug fixed in the time constraint code.
Release Notes: ++ Minor change in calculation of the trendline.
Release Notes: ++ VISUAL TREND has been added to the indicator. WE can filter out false signals by using the signals and the VISUAL TREND together.

The VISUAL TREND is established by using a couple of exponential moving averages with customized parameters and settings.

A buy signal is more likely to work if the VISUAL TREND is bullish.

A sell signal is more likely to work if the VISUAL TREND is bearish.

++ Time constraint has been removed to increase the efficiency of the indicator on cryptocurrency charts.






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Disclaimer

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