Discover one of Walter Bressert's preferred trading indicators, the Red Line (formerly the B-Line), a potent tool unveiling genuine market momentum. Its exceptional mathematical formula analyzes previous bar ranges, resulting in a seamlessly smooth Red Line.
If you've ever grappled with deciphering market trends, the Red Line is the answer, outshining most indicators in illuminating directional movements. With a 25-year track record, it boasts about 80% accuracy in generating mechanical buy/sell signals for identifying cycle tops and bottoms across all time frames.
While the Bressert Double Stochastic is quicker, the Red Line offers higher accuracy, averaging about 70% in pinpointing trading cycle tops and bottoms across time frames. Additionally, the OTS Red Line sometimes synchronizes with the Double Stoch, enhancing trade signal reliability.
Three key enhancements improve the Red Line's performance:
1. Triple averaging for smoother plotting of the Red Line.
2. Incorporation of bars into the line to visualize strength and weakness in each new bar.
3. Addition of cycle counts to each bar, both upward and downward.
Don't overlook this enduring and reputable market indicator. Embrace the Red Line to stay ahead of the curve in your trading endeavors.
Red Line Settings
The Redline inputs offer three distinct length settings, incorporating a code that has remained a secret for the past 30 years. While we've made modifications over time, the default settings are robust and effective. Notably, all our indicators feature different colors for upward and downward trends. The Red Line Indicator is unique, displaying red for upward movement and orange for downward movement. We've also introduced cycles and the VMI to the inputs, providing additional options for activation. Feel free to experiment with the length settings to explore and develop strategies around the enduring and renowned Red Line Indicators.
- Length1: 3
- Length2: 3
- Length3: 3
- 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