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Showing results for tags 'fantail'.
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Here is a new coding that I did to be able to remove the envelope, and/or the fantail lines; and get alerts instead. It is related on Walters Forex WVMA modified fantail version (really thanks to Bemac the coder). It is based on my own following observation and chart demo. I have been working with 50 ema envelopes (light blue dotted). This is showing a 15 pip offset from the 50 ema. I changed the black fantail line to white to see it. When the magenta and white lines BOTH expand beyond the width of the 15 pip envelope, it is a signal that the trend is greatly weakening and can soon pullback or reverse. This is shown with the red vertical lines. It is pretty consistent for the EUR/USD, and I use slightly bigger bands for other pairs. The small arrows (orange and blue) are part of the old audio alert system that I put together for VT that tell me when price closes (or crosses) near the 15 pip band. It has been modified for using only the magenta and white(black) band expansion as an exit readiness alert. By default the new added alert tells me when only the 2 mentioned fantail bands BOTH exceed the 14 (adjustable) pip envelope. It will also show pink arrows and audio alert. To turn these off right click on chart/ attached trading systems/ params enabled, and uncheck what you want for displays including the envelopes display. If you adjust the envelope size, also adjust the envelope alert margin for the price crossover. This turns off the price alerts at a set outer level. You may have to turn off the fantail alerts via the params settings when you are tired of listening to them. Install this via the trading system builder import function. Add it to a chart, as a trading system ONLY via the upper menu for add trading system. You can change the display colors and so on, by editing the trading system, rather that adjusting properties. Also if you want the entire 49 color fan tail you just need to add the outputs, they are still in the code. Remember to unzip the code, not open it with windows RAR. As usual, hope it is useful and let me know if you need further instructions. fan tail envelope alert.zip
