Indicators for trading using Bill Williams' Profitunity strategyI published 3 indicators for trading using Bill Williams' Profitunity strategy. For each indicator, I have added a visual and detailed description in English and Russian. In this post I will briefly describe these indicators and how I use them together.
AFDSA indicator (Alligator + Fractals + Divergent & Squat Bars + Signal Alerts)
Includes Williams Alligator, Williams Fractals, Divergent Bars, Market Facilitation Index, Highest and Lowest Bars, maximum or minimum peak of the Awesome Oscillator, and signal alerts based on Bill Williams' Profitunity strategy:
Bullish and Bearish Divergent Bar Signal + Squat Bar + Green Bar + Fake Bar + Awesome Oscillator Color Change + AO Divergence.
Crossing the green line (Lips) of an open Alligator.
Formation of a fractal.
Signal about the breakdown of the last upper or lower fractal.
Signal about the appearance of a new maximum or minimum peak of AO in the interval of 140 bars from the last bar.
I also added an Alligator display for the higher timeframe, for example, if the chart timeframe is 1 hour, then the higher timeframe will automatically be 4 hours, if the chart timeframe is 4 hours, then the higher timeframe will be 1 day, etc.
AOE Oscillator (Awesome Oscillator + Bars count lines + EMA Line)
Includes the Awesome Oscillator with two vertical lines at a distance of 100 and 140 bars from the last bar to determine the third Elliott wave by the maximum peak of AO in the interval from 100 to 140 bars according to Bill Williams' Profitunity strategy. Additionally, a faster EMA line is displayed.
I also added display of the AO line for the lower timeframe instead of the EMA line if the Moving Average Line values (method, length and source) are equal to the Awesome Oscillator values in the indicator settings. For example, if the chart timeframe is 1 day, then the lower timeframe will automatically be 4 hours, if the chart timeframe is 4 hours, then the lower timeframe will be 1 hour, etc.
VBCHL indicator (Visible bars count on chart + highest/lowest bars, max/min AO)
The indicator displays the number of visible bars on the screen, including the prices of the highest and lowest bars, the maximum or minimum value of the Awesome Oscillator. The values change dynamically when scrolling or changing the scale of the chart, but with a delay of several seconds, so this feature is included in a separate indicator so as not to slow down the work of other indicators.
Indicator settings
In the AFDSA indicator I use the following settings:
By default, the Squat Bar is colored blue, and all other bars are colored to match the Awesome Oscillator color, except for the Fake bars, which are colored with a lighter AO color. But I also enable the display of "Green" Divergent bars in the "Green Bars > Show" field.
I enable the display of Alligator for higher timeframes in the "Alligator for higher timeframe > Enable" field.
In the indicator style settings, I disable the display of the highest and lowest bars, maximum and minimum AO peak labels, because these labels are also displayed by the VBCHL indicator depending on the number of visible bars in the chart window.
Only after opening a position, I enable all additional alerts in the “Enable all additional alerts” field (after changing this field, you need to re-create the alert for the current chart): crossing the green line of an open Alligator, formation of a fractal, appearance of a new maximum or minimum AO peak.
In the settings of the AOE oscillator, I enable the display of the AO line for the lower timeframe instead of the EMA line, setting the same values in the fields for the Moving Average Line (method, length and source) and Awesome Oscillator.
In the VBCHL indicator settings, I only enable the simple display text style for labels in the "Simple display text style for labels" field.
As a result, when analyzing the current chart, I immediately see all the signals on the chart, the location of the bars relative to the Alligator on the higher timeframe and changes in the Awesome Oscillator on the lower timeframe. And thanks to the VBCHL indicator, I quickly select the desired timeframe for analyzing the 5-wave Elliott impulse, focusing on the interval of 140 bars, and immediately see whether there is divergence between the maximum AO peak and the following lower AO peak in this interval.
