🟦 William O'Neil Rule – WALL OF BLUE**Publishing again because it got taken down by Mods**
While this has pulled back recently - it reminds me of a lesson from the great trader William O'Neil and his lesson for the "WALL OF BLUE" 🟦
Not many know this rule, so hope you like it!
Wall of blue rule states that when you have 4+ weeks of blue volume bars (blue volume bars = volume when the week close up, hence up weeks), then this is a buy signal of itself.
In the case of $SMCI we also have above average volume - which is additional strength and confirmation.
This is a signal that the stock is under heavy accumulation from institutions and hence why it made +83% advancement.
Now it is pulling back and it is extended from any base - so I would not touch it here, but it is a good example to illustrate the rule
Williams %R (%R)
HOW-TO [TTI] IBD Market SchoolHOW-TO instruction.
This video shows how my custom IBD Market School Indicator works for TradingView.
–––––––HISTORY & CREDITS–––––––
This indicator is based on the Market School Program from IBD and it is the core logic for which I have developed the indicator. The whole system is based on the model books for the greatest winning stocks from the past. The names of the people who have contributed to this system are William-Oneil, Mike Webster and Charles Harris.
–––––––WHAT IT CALCULATES–––––––
10 Buy Signals:
👉Follow Through Day
👉Additional Follow Through Days
👉Low above 21-Day MA
👉Trending above 21-Day MA
👉Living above 21-Day MA
👉Low above 50-Day MA
👉Accumulation Day
👉Higher High
👉Downside Reversal BuyBack
👉Distribution Day Fall Off
14 Sell Signals:
👉Follow Through Day Undercut
👉Failed Rally Attempt
👉Full Distribution minus One
👉Full Distribution
👉Break Below 21-Day MA
👉Overdue Break Below 21-Day MA
👉Trending Below 21-Day MA
👉Living Below 21-Day MA
👉Break Below 50-Day MA
👉Bad Break
👉Downside Reversal Day
👉Lower Low
👉Distribution Cluster
👉Break Below Higher High
–––––––HOW TO USE–––––––
Each buy signal is a +1 and each sell signal is -1 point to the general count.
We will add all buy and sell signals to produce an overall count from 0 to 5. Based on the count this will translate to market exposure from 0 (at count 0) to 100% (at count 5). Essentially this will help you scale in and out of the market.
WHY A BEARISH BIAS FOR NFP TRADELet 1st 15m bar close
1st bar closed below Kijun-sen,
+ vol, oversold %R, Red Macd bar
Wait for a 23%+ fib pullback retrace
2nd bar 38.2%+ pullback & closed below 38.2% level
Enter on open of 3rd bar
3rd bar CLOSE confirmed bearish bias because
Volume+, Oversold %R, Macd red bar
You find your own SL and TP
When Larry Williams UO told us that Bitcoin is going to crashUltimate Oscillator:
This is a range-bound indicator, which means the value fluctuates between 0 and 100. Similar to the RSI, levels below 30 are deemed to be oversold, and levels above 70 are deemed to be overbought. Transaction signals are derived by finding situations where the price is going in opposite directions than the indicator. Once this divergence has been identified the trader will wait to confirm the transaction by using other technical indicators.
Here are trading rules: www.marketinout.com
Following this, UO indicated us to go short (red arrow). Since then there has been not "close" signal for this trade.
Very interesting - I came across this indicator studying new entry/exit strategies. I am about to backtest this indicator on my trades for the next months whether UO is worth considering.