The Elite Circle - K_TraderRibbon_v1 for ToS
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K_TraderRibbon_v1 for ToS 5 *
Update: see journal link below for more details on using K_Tarder_Ribbon in multi timeframe.



This study was inspired by the 9/30 method setup... hope others will find it useful. it's amazing how few lines of code can produce something as effective and nice looking (they don't have to be ugly, you know... )

  • The K_Trader_Ribbon is a trend following setup based on 2 crossing-MA's concept.
  • we use WMA and an EMA of shorter length of that WMA.
  • the "ribbons" shade the area between the EMA, the WMA, and the midline of the Hi/lo Channel of the WMA.
  • the price/WMA will be on either sides of that channel depending on up/down trend ..
  • visualizing it this way hides a lot of unnecessary noise..
  • we can also better visualize the "buy" area (light shading) and the "exit loss" areas (inside the darker shades or if price penetrates the TrendLine)
  • added a buy/sell signal (up/down arrow) based on the crossing of the WMA with it's EMA (it provides the earliest signal) beside the color clue (red/Green) for an established trend up or down.


couple of nice visual enhancements to expereiment with(hi-contrast clouds and hide/show all lines) - see screenshots

try different length settings.. i liked 4/3 and 6/3 on a 5min chart..

Adjust length settings based on underlying & time aggregation until you see the price bars penetrating the ribbon to the other side of current trend *just before reversal*, and staying within the ribbon during retraces.. this will be the best settings in most cases..

feedback welcome.. pls keep within BMT.

Thank you,
RedK


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Details: K_TraderRibbon_v1 for ToS
Category: The Elite Circle 


September 11th, 2012
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Keywords: ma redk ribbon thinkorswim tos trend wma
 


 
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