Explore Walter Bressert's acclaimed trading indicator, the Yellow Line Double Stoch, offering a distinctive perspective on genuine market momentum. In contrast to the Green Line, the Yellow Line provides a more stable directional view with reduced sensitivity to sudden market changes, thanks to its 8 or 10 length inputs.
If you've faced uncertainty about market entry and exit timings, the Yellow Line Double Stoch is your definitive solution. It excels at highlighting directional movements, surpassing the performance of most other indicators. Three key enhancements have been applied to boost the Yellow Line's effectiveness:
1. Triple averaging to smooth the Yellow Line and present an updated value.
2. Incorporation of bars into the line for a visual representation of strength and weakness in each new bar.
3. Addition of cycle counts to each bar, both upward and downward.
This unique indicator ensures you capture turning points, offering invaluable insights into market trends. Bid farewell to guesswork, and let the Yellow Line guide you with confidence in determining market trends.
Yellow Line Settings
The Yellow Line mirrors the Green Line, utilizing a distinct length input set to 8, although Walter Bressert traditionally used 10. 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