Through use of tradingview.com’s Pine Script programming language, I have spent thousands of hours in both direct and indirect work, building the indicator we have today. The study itself is built off of several popular components, that are popular in all forms of trading. These include portions of strategies such as
- Ichimoku Cloud
- Bollinger Bands
- Keltner Channels
- EMA/SMA & Moving Averages
- Stochastic RSI
You see, each of these aforementioned indicators all derive from two components of a trade in some sort of way, which in this case, is price & volume. Each also carries its own Buy and Sell signals, that can be found through dedicated research on the web, and hours of practice. Once I was really understanding why things are calculated and how different measurements can be used in my favor, I was able to pick which pieces would make sense in applying through the indicator itself.
Trial and error became a second language to me, the first being PineScript itself. Had I been counting the number of failed versions I’d gone though, a conservative estimate would be well above 10,000. Many of the attempts were simple chart updates I would use to test the indicator, but attempts none-the-less.
This became an obsession for me as I got further into it, and will undoubtedly continue improving it as needed, after it’s release. All components considered, the main challenge, was finding a balance that engaged traders consistently, without created too much noise to follow, while maintaining its accuracy & applicability to all tickers and timeframes. That said, it is imperative to understand that this study is not a guarantee profit maker & all who add the tool to their strategy, need to understand that the goal is to win only a majority of the time.
To say the least, this has been built as a reference, and should be far from the only reason you enter a trade. It is highly recommended that you backtest, or paper trade before using this study, as it is intended to be a tool, and not the end-all-be-all.