Welcome to the renowned Green Line Double Stoch, a Walter Bressert trading indicator that provides a unique window into authentic market momentum. The Green Line is exceptionally responsive to changes in market direction, making it a pivotal tool in Walter Bressert's Best Trade Model.
If you've grappled with deciding when to enter or exit the market, the Green Line Double Stoch is your definitive solution. It excels at precisely identifying critical turning points, outperforming most other indicators. We've significantly enhanced its effectiveness in three key ways:
1. We've smoothed the Green Line by averaging the original result three times, presenting an updated value.
2. To assess the strength and weakness of each new bar, we've incorporated bars into the line for a visual representation of their height.
3. We've added cycle counts to each bar, both upward and downward.
This one-of-a-kind indicator ensures you never miss these turning points, providing unparalleled clarity on market trends. Say goodbye to guesswork and confidently utilize the Green Line Indicator's buy/sell zones for informed decisions.
Green Line Settings
The Green Line mirrors the Yellow Line, utilizing a distinct length input set to 4, although Walter Bressert traditionally used 5. Feel free to experiment with this setting to align it with your trading strategies. Additionally, we incorporated the VMI into the indicator, enhancing its turn indications through Volume Delta data. To provide more insights into market dynamics, we introduced a cycle count and bars, offering a visual representation of momentum and strength or weakness based on the indicator's movement from the last bar.
- Sound Alert: Choose Sound
- Alert Message: On/Off
- Length: 4
- Show Cycles: On/Off
- Show Cycle Count: On/Off
- Show Breakout Lines: On/Off
- On/Off: Off
- Volatility: 1
- Average Length: 1
- Normalization: On/Off
- Normalization Length: 10
- Use Set Bars Back: On/Off
- Bars Back to Count: 2