About BW indicator...
2024-12-15
Category: None


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BW indicator is an indicator that comprehensively evaluates MACD, StochRSI, OBV, and superTrend indicators.

Since BW indicator comprehensively evaluates various indicators, it is a lagging indicator.

Therefore, when BW(100), BW(0) indicators are generated, the price may already be far away.

Therefore, it is recommended to use BW(100), BW(0) indicators when they cross again.

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(MACD indicator)
Source value: ohlc4
Setting value: 10, 26, 9
M-Signal = (10 EMA + 26 EMA) / 2
S-Signal = 9 EMA of M-Signal value

If M-Signal > S-Signal: +10
If M-Signal < S-Signal: -10
If M-Signal = S-Signal: 0

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(StochRSI indicator)
Source value: ohlc4
Setting value: 14, 7, 3, 3 (RSI, Stoch, K, D)
StochRSI = (K + D) / 2
StochRSI EMA = 7 EMA of StochRSI value

If StochRSI > 50: +10
If StochRSI < 50: -10
If StochRSI = 50 : 0

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(superTrend indicator)
Source value: ohlc4
Setting value: 3, 2 (factor, atr Period)

When Sell Line is broken upward: +10
When Buy Line is broken downward: -10
When in Buy Line ~ Sell Line section: 0

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(OBV indicator)
Period: 18

When OBV is above High Line: +20
When OBV is in HL2 ~ High Line section: +10
When OBV is in HL2 ~ Low Line section: -10
When OBV is below Low Line: -20

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The BW indicator is expressed in the range of 0 ~ 100 by adding 50 to the above result value.

When it touches the 100 point and then falls, the BW(100) indicator is generated.

When it touches the 0 point and then rises, the BW(0) indicator is generated.

Therefore,
- BW(100) indicator means high point boundary, so it is interpreted as forming a high point range,
- BW(0) indicator means low point boundary, so it is interpreted as forming a low point range.

In order to use the points of BW(100) and BW(0) indicators as support and resistance points, at least 3 candles must form a horizontal line.

Otherwise, the role of support and resistance points is weak, so caution is required when trading.

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There is another indicator that shows high point ranges or low point ranges.

That indicator is the HA-Low, HA-High indicator.

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Thank you for reading to the end.
I hope you have a successful trade.

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