This NEW Reversal Indicator Is Actually Good... — Transcript

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1. 0:00So, this is a zone that's overbought on
2. 0:01the daily and we're getting these RSI
3. 0:04reversal signals inside those zones. If
4. 0:06needed, of course, you can go [music]
5. 0:07into the settings and change the higher
6. 0:09time frame to any time frame that you'd
7. 0:11like. So, this is the stochastic
8. 0:12oscillator. I've always found this to be
9. 0:14a better tool to identify overbought and
10. 0:17oversold levels than say the RSI, which
11. 0:19a lot of persons [music] often use. Just
12. 0:21more accurate in my experience. So, one
13. 0:23of the way that I'll often [music] use
14. 0:25this tool is that I'll identify a
15. 0:27overbought or oversold zone on a higher
16. 0:30time [music] frame, then go ahead and
17. 0:31mark that level on the higher time
18. 0:33frame, and then I'll drop down to a
19. 0:35lower [music] time frame, and then try
20. 0:37to take fill or buy positions based on
21. 0:39that area that I've marked from the
22. 0:41higher time [music] frame. So, I wanted
23. 0:42to build a tool that would identify this
24. 0:44for me, identify the overbought and
25. 0:46oversold [music] zones while I'm on the
26. 0:47lower time frame so I can focus on the
27. 0:49execution of the trade. So, I went ahead
28. 0:51and used Quant by [music] Lux Algo, and
29. 0:52this is what I ended up building. So,
30. 0:54here it is. This is the same exact
31. 0:55stochastic indicator, except that we now
32. 0:57have a time frame control. [music] So,
33. 0:58if we go into the settings, you'll see
34. 1:00that it's currently set to the 1-hour
35. 1:01time frame, and we're on the 5-minute
36. 1:03time frame. So, these levels that we're
37. 1:05seeing right here, these are overbought
38. 1:07levels based on the 1-hour [music] time
39. 1:09frame. And as you can see, we have a
40. 1:11bucket that's drawn here for that zone,
41. 1:14and then inside that zone, we have these
42. 1:16[music] arrows that are being plotted.
43. 1:18These arrows are based on the RSI, and
44. 1:20those are detect trying to detect
45. 1:22potential tops and bottoms within
46. 1:24[music] this oversold. Here, you can see
47. 1:26we have another one forming right here.
48. 1:28And then on each bucket, we also have
49. 1:30the volume and the delta. [music]
50. 1:31Potential alternative to detecting
51. 1:33supply and demand areas. You can just
52. 1:35use typical market structure. So,
53. 1:37[music] if we're in this zone, for
54. 1:39example, which is an oversold zone,
55. 1:40you'd be looking to buy. So, all you
56. 1:42need to do is wait for say a market
57. 1:44structure change, and you [music] could
58. 1:46potentially take an entry right there.
59. 1:48This indicator is called the higher time
60. 1:50frame [music] stochastic bucket, and if
61. 1:52you want access to it, go ahead and
62. 1:54comment the word time frame, and I'll
63. 1:55send you a