Mid-Term Price Action Indicator by Oleg Bauer

kemarin

Description of the Indicator: Mid-Term Price Action Indicator with MACD and Bollinger Bands
Purpose:
This indicator is designed for mid-term trading and helps traders identify entry (buy) and exit (sell) points based on support and resistance levels, trends, volume, MACD, and Bollinger Bands.

Key Features:
Support and Resistance Levels:

Calculated based on local extrema (Swing High and Swing Low) over a specified period.
Helps identify key zones where reversals or trend continuations are likely.
MACD (Moving Average Convergence Divergence):

Used to determine trends:
MACD above the signal line: bullish trend.
MACD below the signal line: bearish trend.
Bollinger Bands:

Helps identify market volatility:
Price above the middle band: confirmation of an uptrend.
Price below the middle band: confirmation of a downtrend.
Volume:

Signals consider only situations where volume is above the average for the selected period, excluding weak market movements.
Moving Average (MA):

Long-term trends are evaluated using a moving average with a customizable period.
Flat Market Filtering:

Signals are excluded during low-volatility conditions.
Signals:
Buy Signal:

Triggered when:
The price breaks above the support level.
Additional conditions are met: bullish trend (confirmed by MACD, MA, and Bollinger Bands) and sufficient volume.
Sell Signal:

Triggered when:
The price breaks below the resistance level.
Additional conditions are met: bearish trend (confirmed by MACD, MA, and Bollinger Bands) and sufficient volume.
Indicator Parameters:
Swing High/Low Lookback: Number of candles for calculating local extrema.
Support/Resistance Lookback: Period for calculating support and resistance levels.
Volume Multiplier: Filters signals based on volume.
Moving Average Length: Period for the moving average.
Breakout Buffer (%): Minimum breakout value to confirm a signal.
RSI Length: RSI period length for additional analysis (adjustable for specific conditions).
MACD and Bollinger Bands: Customizable parameters for trend analysis.
Advantages:
Versatility: Suitable for trading on timeframes from 1 hour to 4 hours.
Precision: Signals are based on multiple factors to minimize false entries.
Ease of Use: Visualizes support/resistance levels, trends, and buy/sell signals.
How to Use:
Buy at lows confirmed by signals.
Sell at highs where the signal confirms a trend reversal.
Monitor support/resistance levels and confirm breakouts with additional indicators.
This indicator is ideal for traders seeking accurate entry/exit points for mid-term trading.