An indicator used to signal impulsing price action and optimum long and short entry prices. Parameters are included to optionally draw vertical line to indicate change of impulse direction, bar colors to indicate when the price action is “impulsing”, text-to-speech alert messages, and audible sound file alerts. Indicator is specifically designed for the crude oil futures market with a 9 range chart and is based on studies and setups taught by Jerry Simmons of the ATW.
Add the Dynamic Fibonacci Extensions and Fuzzy Pivots indicators for the confluence of additional confirming factors.
The image below illustrates the concept. The vertical lines are drawn on detection of the impulse move for a particular direction (shown as blue for rising and magenta for falling). Similarly, bar colors are painted (in this case blue and red) when price action is impulsing; the default green bar color shows a break in the impulse move. The blue up and magenta down arrows indicate optimum long and short entry levels, respectively:
(Click images to enlarge)
Live trading example after 1st Entry…after PT2 hit with trailing stop:
Live example…2nd entry….managed to snapshot the entry on this one:
Live example after 2nd Entry…after PT1 hit:
Live example after 2nd Entry…after PT2 hit trailing stop:
To rank a potential entry, a wise trader uses the confluence of multiple confirming factors. In the spirit of full disclosure, the entries for the above trade examples had such additional factors, though not illustrated. For example, below is an illustration of the same chart with the Fuzzy Pivots added. Notice that the Fuzzy Pivots clearly show the confluence of the 1st and 2nd entries with the retest of BOP structures, and that a potential 3rd entry between 10:41am and 10:55am, would have resulted in another winning trade but was lower rated since the Fuzzy Pivots indicate a more “fuzzy” DPTL zone:
The following image illustrates additional confluence with the ATW global zones by way of the ATWSRLevelsCDAv301 indicator as well as projections of fib support and resistance levels: