[Guidelines] Flexible Technical Indexes indicator

Introduction

The Flexible Technical Indexes indicator is an indicator that provides information about the market based on aggregating information from many Moving Average and Oscillator indicators. Each component indicator provides different Buy – Sell signals and information. The Flexible Technical Indexes indicator will display the information of these indicators, calculate Buy – Sell suggestion based on each information, and then combine all the information to make the final Buy – Sell suggestion.

The Flexible Technical Indexes indicator works based on the combination of many component indicators. Therefore, the final Buy – Sell signal will be much more accurate than using each indicator individually.

All of the component indicators in the Flexible Technical Indexes are indicators that have been used over the years by many traders. The calculation of component Buy – Sell signal is also based on proven and widely used methods.

Combine market data from difference sources and indicators before entering a trade is required in trading. And we developed Flexible Technical Indexes indicator to help traders do this work easier, faster and more accurate.

Add Flexible Technical Indexes into chart

1. Open the chart and choose the timeframe you would like to trade
2. Click. “Indicators” (In the top tool bar)
3. Select “Invite-only scripts” category
4. Select [SAFE] Flexible Technical Indexes to add this indicator into chart
5. Open Settings panel by clicking the gear icon to change indicator’s settings

Flexible Technical Indexes settings

• Force using this source: Most of component indicators use “close” price as data source but several indicators use other data sources. You can use this option to select and force all indicators use your preferred data source. You shouldn’t select this option if you aren’t an experienced trader.
• MA Ratio (%): The ratio of MA indicators when calculating final trade signal. Oscillator indicators ratio will be 100% – MA Ratio. Default value: 50%.
• Panel Position: Position to show info panel.
• Text Size: The size of text.
• Hide Signal Count: Hide counting of MA and oscillator signals (X Sell – Y Neutral – Z Buy)
• Hide Moving Average Details: Hide detailed info of MA indicators.
• Hide Oscillator Details: Hide detailed info of oscillator indicators.

Simple Moving Average (SMA): Check/Uncheck and set up the length factor to use SMAs with difference length. Up to 6 SMAs supported.

Exponential Moving Average (EMA): Check/Uncheck and set up the length factor to use EMAs with difference length. Up to 6 EMAs supported.

Volume Weighted Moving Average (VWMA): Check/Uncheck and set up the length factor to use VWMAs with difference length. Up to 3 VWMAs supported.

Hull Moving Average (Hull): Check/Uncheck and set up the length factor to use Hulls with difference length. Up to 3 Hulls supported.

Ichimoku Base Line (Ichimoku)

• Enable: Check/Uncheck to turn on/off using this indicator in calculation
• Conversion Length: Length parameter to calculate Conversion line.
• Base Length: Length parameter to calculate Base line.
• Leading Length: Length parameter to calculate Leading Span B line.
• Lagging Length: Length parameter to calculate Lagging line.

Relative Strength Index (RSI)

• Enable: Check/Uncheck to turn on/off using this indicator in calculation
• Length: Length parameter to calculate RSI. Default value: 14
• Overbought: Define overbought level. Default value: 70
• Oversold: Define oversold level. Default value: 30

Stochastic %K (Stoch)

• Enable: Check/Uncheck to turn on/off using this indicator in calculation
• %K Length: %K length parameter to calculate Stochastic. Default value: 14
• %K Smoothing: %K smoothing length parameter to calculate Stochastic. Default value: 3
• %D Smoothing: %D smoothing length parameter to calculate Stochastic. Default value: 3
• Overbought: Define overbought level. Default value: 80
• Oversold: Define oversold level. Default value: 20

Commodity Channel Index (CCI)

• Enable: Check/Uncheck to turn on/off using this indicator in calculation
• Length: Length parameter to calculate CCI. Default value: 20
• Overbought: Define overbought level. Default value: 100
• Oversold: Define oversold level. Default value: -100

Average Directional Index (ADI)

• Enable: Check/Uncheck to turn on/off using this indicator in calculation
• Length: Length parameter to calculate ADI. Default value: 14

Awesome Oscillator (AO)

• Enable: Check/Uncheck to turn on/off using this indicator in calculation

Momentum (MOM)

• Enable: Check/Uncheck to turn on/off using this indicator in calculation
• Length: Length parameter to calculate MOM. Default value: 10

MACD Level (MACD)

• Enable: Check/Uncheck to turn on/off using this indicator in calculation
• Fast Length: Length parameter to calculate fast EMA line in MACD. Default value: 12
• Slow Length: Length parameter to calculate slow EMA line in MACD. Default value: 26

Stochastic RSI Fast (Stoch RSI)

• Enable: Check/Uncheck to turn on/off using this indicator in calculation
• K: K parameter in Stoch RSI calculation. Default value: 3
• D: D parameter in Stoch RSI calculation. Default value: 3
• RSI Length: RSI length parameter in Stoch RSI calculation. Default value: 14
• Stochastic Length: Stochastic length parameter in Stoch RSI calculation. Default value: 14
• Overbought: Define overbought level. Default value: 80
• Oversold: Define oversold level. Default value: 20

Williams Percent Range (Williams)

• Enable: Check/Uncheck to turn on/off using this indicator in calculation
• Length: Length parameter to calculate Williams. Default value: 14
• Overbought: Define overbought level. Default value: -20
• Oversold: Define oversold level. Default value: -80

Bull Bear Power (BBP)

• Enable: Check/Uncheck to turn on/off using this indicator in calculation
• Length: Length parameter to calculate BBP. Default value: 13

Ultimate Oscillator (UO)

• Enable: Check/Uncheck to turn on/off using this indicator in calculation
• Fast Length: Length parameter to calculate fast line. Default value: 7
• Middle Length: Length parameter to calculate middle line. Default value: 14
• Slow Length: Length parameter to calculate slow line. Default value: 28
• Overbought: Define overbought level. Default value: 70
• Oversold: Define oversold level. Default value: 30

Use Flexible Technical Indexes in trading

The Flexible Technical Indexes indicator is suitable for those who want to combine a lot of information from the market to get more accurate Buy – Sell signals or having a quick overview of the market.

When using this indicator, select the indicators that you trust and want to use for the calculation. You can also change the default parameters according to your needs. However, if you don’t have lots of experiences, keep using default parameters.

The Flexible Technical Indexes indicator will display the following information:

• Final Buy – Sell signal is in the top oof the box with the background color depending on the signal: Blue background if the signal is a Strong Buy/Buy; Gray background if Neutral; Red background if Strong Sell/Sell. This is a signal obtained from a combination of signals from MA indicators and signals from Oscillators.
• The next section is the data section for MA indicators. This data section includes 3 pieces of information: Buy – Sell signal based on MA indicators only and their weighting; Summary of the number of Sell – Neutral – Buy signals according to the MA indicators; Detailed information of each component MA indicator. This information includes 3 columns: Indicator Name (parameters), value after calculation, Buy – Sell signal based on component indicator.
• The next section is the data section for oscillator indicators. The information of this section is similar to the MA indicators section.

The Flexible Technical Indexes indicator results in a Buy – Sell signal with a combination of information from many different indicators, so the Buy – Sell signal is very reliable. After setting up the indicators as desired, you can completely Buy – Sell assets based on the final signal: Buy when there is a Strong Buy or Buy signal and sell (or Short) when there is a Strong Sell or Sell signal. When the signal is Neutral, you can wait and monitor the market.

Overlay Technical Indexes alert conditions

• MA – Strong Sell: When summary of MA indicators is a Strong Sell signal.
• MA – Sell: When summary of MA indicators is a Sell signal.
• MA – Neutral: When summary of MA indicators is a Neutral signal.
• MA – Buy: When summary of MA indicators is a Buy signal.
• MA – Strong Buy: When summary of MA indicators is a Strong Buy signal.
• OS – Strong Sell: When summary of oscillator indicators is a Strong Sell signal.
• OS – Sell: When summary of oscillator indicators is a Sell signal.
• OS – Neutral: When summary of oscillator indicators is a Neutral signal.
• OS – Buy: When summary of oscillator indicators is a Buy signal.
• OS – Strong Buy: When summary of oscillator indicators is a Strong Buy signal.
• All – Strong Sell: When summary of all indicators is a Strong Sell signal.
• All – Sell: When summary of all indicators is a Sell signal.
• All – Neutral: When summary of all indicators is a Neutral signal.
• All – Buy: When summary of all indicators is a Buy signal.
• All – Strong Buy: When summary of all indicators is a Strong Buy signal.