Description
-
River is a visual identifications tool that can offer more information regarding market sentiment and clarity of price trend
- Used to scan through markets to spot trending opportunities or warn of ranging conditions
- Provides context to the price action and reflects support and resistance zones that can be used for trend following
- Used in combination with other technical tools and techniques for execution purposes
Interpretation
- Price action relative to the rivers
- Crossover of rivers
- Slope of rivers
- Distance between rivers
- Possible support and resistance levels
Uptrend
- Price above the blue river
- Blue river above the gold river
- And the rivers strongly upward sloping
Downtrend
- Price below the blue river
- Blue river below the gold river
- And the rivers strongly downward sloping
Weak Trend
- Lower tops and lower bottoms
- The weakness of the strength of the trend can be identified using the river
- In a weak trend, we expect to see the rivers mixing the price not remaining completely below the blue river
using cAlgo.API;
using cAlgo.API.Indicators;
namespace cAlgo
{
[Cloud("Yellowhigh", "Yellowlow"), Cloud("UpperFilterLine", "LowerFilterLine"), Cloud("Bluelow", "Bluehigh")]
[Indicator(IsOverlay = true, TimeZone = TimeZones.UTC, AccessRights = AccessRights.None)]
public class NeilRiver : Indicator
{
[Parameter("Period", DefaultValue = 45)]
public int Period { get; set; }
[Parameter("Shift", DefaultValue = 20, MinValue = -100, MaxValue = 500)]
public int Shift { get; set; }
[Parameter("MA Type", DefaultValue = MovingAverageType.Exponential)]
public MovingAverageType MAType { get; set; }
[Parameter("Deviation", DefaultValue = 0.025)]
public double Deviation { get; set; }
[Output("UpperFilterLine", LineColor = "#FF5B0204")]
public IndicatorDataSeries UpperBand { get; set; }
[Output("LowerFilterLine", LineColor = "#FF5B0204")]
public IndicatorDataSeries LowerBand { get; set; }
[Output("Bluelow", LineColor = "#0071C1")]
public IndicatorDataSeries BlueLower { get; set; }
[Output("Bluehigh", LineColor = "#0071C1")]
public IndicatorDataSeries BlueUpper { get; set; }
[Output("Yellowhigh", LineColor = "#FFBEBF00")]
public IndicatorDataSeries YellowUpper { get; set; }
[Output("Yellowlow", LineColor = "#FFBEBF00")]
public IndicatorDataSeries YellowLower { get; set; }
private MovingAverage hi;
private MovingAverage lo;
private MovingAverage high;
private MovingAverage low;
private MovingAverage Yellowhigh;
private MovingAverage Yellowlow;
protected override void Initialize()
{
hi = Indicators.MovingAverage(Bars.HighPrices, Period, MAType);
lo = Indicators.MovingAverage(Bars.LowPrices, Period, MAType);
high = Indicators.MovingAverage(Bars.HighPrices, Period, MAType);
low = Indicators.MovingAverage(Bars.LowPrices, Period, MAType);
Yellowhigh = Indicators.MovingAverage(Bars.HighPrices, Period, MAType);
Yellowlow = Indicators.MovingAverage(Bars.LowPrices, Period, MAType);
}
public override void Calculate(int index)
{
UpperBand[index] = hi.Result[index] * (1 + Deviation / 100);
LowerBand[index] = lo.Result[index] * (1 - Deviation / 100);
BlueUpper[index] = high.Result[index];
BlueLower[index] = low.Result[index];
YellowUpper[index + Shift] = high.Result[index];
YellowLower[index + Shift] = low.Result[index];
}
}
}
TR
traderfxmaster007
Joined on 09.07.2019
- Distribution: Free
- Language: C#
- Trading platform: cTrader Automate
- File name: Neil River.algo
- Rating: 0
- Installs: 1779
- Modified: 13/10/2021 09:54
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