- Introduction
Al Po's E.A Dragon - best combined with Al Po's U.S-101(basic) The very first stable implementation of fast Oversell and Overbuy lines(for more details see Al Po's Bands). Fast Oversell and Overbuy never sleep(like they do in Global Oversell & Overbuy). This indicator has a switch(20 cases) that built to alert user with: red, yellow(for uncertainty) and green colored areas(between Overbuy and Oversell points of each candle) and show where are so called "expectation points"(top and bottom). It is very useful to catch "unmet expectation"(when price without touching the expectation point go in opposite direction and pulling expectation with it). Greater the gap between the expectation point and the price - stronger the resistance will be on that specific level in future events (>80% cases).
- Overbuy Source [☝]
The source for Overbuy(close by default). You can play with, for example, low/high to markdown breakdowns on low after strong move up and breakouts on high after strong move down.
- Oversell Source [☝]
The source for Oversell(close by default). You can play with, for example, low/high to markdown breakdowns on low after strong move down and breakouts on high after strong move up.
- Overbuy Style [☝]
0-default(2);1-histogram;2-line;3-cross;4-area;5-columns;6-circles;
- Oversell Style [☝]
0-default(2);1-histogram;2-line;3-cross;4-area;5-columns;6-circles;
- Overbuy Width [☝]
1 to 4 width of line
- Oversell Width [☝]
1 to 4 width of line
- Transparency [☝]
Transparency of a channel.
- Simple Practices [☝]
When strong expectation changes its direction to opposite it will pull the price with it leaving the previous expectation unmet(!) to alert the user [☝]
Strong unmet expectation in long term provide indication of support/resistance levels. [☝]
If you see expectation fall and arise again but closed unmet this is a sign of upcoming downtrend. Respectively, when you see expectation strike and fall again but closed unmet it is a sign of upcoming uptrend. [☝]
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