Waddah Attar Explosion Indicator

Overview

The Waddah Attar Explosion Indicator is intended for use by all traders. It merges the Bollinger Bands and MACD together in a special way. This allows it to identify the start of the price explosion situations with very high accuracy. These explosions happen every day and sometimes multiple times a day. By using the Waddah Attar Explosion indicator you can know when this explosion begins and when they end with a high degree of success.

1) The explosion line

• Its task is to know when the price explosion will start and when it will end.
• The price explosion begins when the explosion line is at its lowest value, and then it begins to go up.
• The price explosion continues as long as the explosion Line remains high.
• The price explosion ends when the explosion Line returns to the lowest values again and becomes horizontal.
• The explosion Line function ends once the determining of the beginning and the end of the price explosion was done, without specifying the trend direction which is the function of the Histogram with his Green and Red Bars.

2) The Histogram Green Bars

• Used to identify am Uptrend.
• Specifies the entry point (the Buying Point), which is when the Green Bar rises above the explosion Line.
• Specifies the Exit Point, which is when the Green Bar drops below the explosion line.

3) The Histogram Red Bars

• Used to identify a Downtrend.
• Specifies the entry point (the Buying Point), which is when the Green Bar rises above the explosion Line.
• Specifies the Exit Point, which is when the Green Bar drops below the explosion line.

4) The dead zone line

• Represents the upper limit of the Dead zone, below this line no order should be opened.
• It works as a filter for weak signals and no alert will be shown when the red or green histogram is under it.

5) Bloodhound/Blackbird/Automated strategies support

The indicator exports several plots for the Trend Long/ Trend Shortsignals which you can use in, Bloodhound/Blackbird, The NinjaTrader Strategy builder, or plain Ninja Script to build your own automated strategies

Key Features

• Alerts
• Fully customizable
• Color / Paint bars
• Arrows
• Show buy/sell signals on the chart
• Works on any market (crypto, futures, stock, options)
• Supports Bloodhound/Blackbird
• Works on any timeframe 
• Works on any bar type (time, range, Renko, tick, etc)

Changelog

27-nov-2021 v1.0.0.2

• Added support for bloodhound/blackbird

Media