L1000X Indicator Final Version + TutorialThis is the final version of L1000X, it is complete until further notice
Added Histogram, will show you the true length of oscillations and reacts 6 candles faster than MACD in this experiment.
Histogram also shows the intensity of trend by height of candles and the color of histogram columns,
TUTORIAL:
How to Read Histogram(Red and green column chart on L1000X indicator.):
-Dark Green-
Strong Bullish
-Light Green-
Light Bullish
-Dark Red-
Strong Bearish
-Light Red-
Light Bearish
How to Read L1000X Fast and Slow Signal Lines with Histogram for trading and investing ideas.
-Blue is Fast and Orange is Slow *Used color palette of MACD to be usable on any chart layout*
Cross down= Fast crosses Slow from above. Can indicate a reversal in trend, can also indicate trend continuation(bounce).
Cross up= Fast crosses Slow from below. Can indicate a reversal in trend, can also indicate trend continuation (bounce).
Buy Setup= Fast drops well below Slow
Sell Setup= Fast grows well above Slow
Swing over= The description of the full shape of a buy setup, wave crossing up, and a sell setup.
Swing under= The description of the full shape of a sell setup, wave crossing down, and a buy setup.
Crest= In a Swing over or swing under, a high momentum candle is proceeded by lower momentum of the same trend, can indicate reversals.
Scalp= A small swing over or swing under which is proceeding a bounce in the prevailing trend
Bounce= A swing over or swing under, in a situation where may look like a sell or a buy, but continues in direction of the trend. Fast may bounce off of the slow, or even away from it.
Prevailing Trend- Trend which has been indicated in majority of by the Histogram for the timeframe you are looking at
Confluence= when Histogram, Prevailing Trend and Fast over/under Slow all indicating of a reversal, to try to predict tops and bottoms
Thanks for your support! L1000X Labs
