The Daily Fozzy Method

[rkave]

Here is a modification of the FOZZY indicator, it plots a '+' when the conditions are true. Noting fancy but....... a small contribution.

PS I don't know if the metod works, I am not trading it (jet).



{RKave Indicator for the daily Fozzy method}

inputs:
Price( Close ),
RSILength( 8 ),
XAvgLength ( 8 ),
BBLength ( 20 ),
LongReadyColor( Cyan ),
ShortReadyColor( Red );

variables: MyRSI(0), XAverageRSI(0), BBand(0);

Condition1 = false;
Condition2 = false;
MyRSI = RSI(Price, RSILength);
XAverageRSI = XAverage(MyRSI, XAvgLength);
BBand = Average(MyRSI, BBLength);
Condition1 = (MyRSI[1] < BBand) and (XAverageRSI[1] < BBand) and (MyRSI crosses over XAverageRSI);
Condition2 = (MyRSI[1] > BBand) and (XAverageRSI[1] > BBand) and (MyRSI crosses below XAverageRSI);

If Condition1 then Plot1( MyRSI, "Trade ready", LongReadyColor);
If Condition2 then Plot1( MyRSI, "Trade ready", ShortReadyColor);
Plot2( BBand, "BBand");
Plot3( MyRSI, "RSI");
Plot4( XAverageRSI, "RSI X-Avg");

{ Alert criteria }
If Condition1 then
Alert( "Long Ready" )
else If Condition2 then
Alert( "Short Ready" );

[jtrade]

I wrote a radarscreen indicator:



ELD attached.

Avery - would you please tell me how I modify the code (in this thread's first post above) such that only the "TRADE" column plots, ie. not the RSI & MARSI columns ?

Thanks,

J.