Pressure Signals
Dec 19, 2021
The Creentrend Pressure Signals indicator combines the reactivity of the Hull Moving Average (HMA) with Bollinger Bands to identify overbought/oversold conditions and trend pressure.
Usage
The script is designed to identify specific price and volatility interactions. While compatible with all timeframes, it is optimized for daily charts to account for short-term volatility swings and potential reversals.
- Buy Signal: Triggered when the Hull Moving Average (HMA) closes below or crosses back above the lower Bollinger Band. This indicates an oversold condition within the current volatility range.
- Upward Pressure Signal: Indicated by a green "^" symbol when the price closes above the upper Bollinger Band. This suggests strong bullish momentum and trend expansion.
- Warning/Resistance Signal: Triggered when the HMA closes above or crosses under the upper Bollinger Band. This serves as a warning for potential complex tops or exhaustion in the current upward move.
Details
The tool utilizes a 55-period Simple Moving Average (SMA) as the basis for Bollinger Bands with a standard deviation multiplier of 1.618. This is paired with a 55-period Hull Moving Average. The HMA is inherently faster and more reactive to price changes than the Bollinger Band basis, allowing the script to detect when the trend's momentum is stretching beyond typical volatility limits.
Settings
- Length 1: The lookback period for the Bollinger Bands calculation (Default: 55).
- Source 1: The price data used for the Bollinger Bands calculation (Default: Close).
- StdDev: The standard deviation multiplier for the Bollinger Bands width (Default: 1.618).
- Offset: Shifts the Bollinger Bands plot forward or backward in time.
- Length 2: The lookback period for the Hull Moving Average calculation (Default: 55).
- Source 2: The price data used for the Hull Moving Average calculation (Default: Close).
FAQ
How do I use the Creentrend Pressure Signals?
You can use the signals to identify potential reversal points (HMA vs. Lower Band) or trend strength (Price vs. Upper Band). It is recommended to use these signals on daily timeframes to filter out noise.
What is the significance of the 1.618 StdDev?
The 1.618 value is derived from the Fibonacci sequence and is used here to define volatility boundaries that are tighter than the standard 2.0 multiplier, allowing for earlier detection of "pressure" zones.
How can I access this indicator?
You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.
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