THE SNIPER SCOPE
THE SNIPER SCOPE indicator is very simple in concept. It is an enhancement to THE CYCLE COMPLEX in that you can set the Pre and Post Pivot Inertia to your style of trading. The more histogram bars of the same color leading into a Pivot will typically herald a better Pivot. This chart is set to 7 Pre Pivot Inertia followed by 1 Post Pivot Inertia. IOW, there has to be at least 7 histogram bars of the same color leading into a single (1) bar of the opposite color. When these criteria are met a visual and optional aural alert are triggered. You see the small red dots just above (alerting to a potential short) the candlesticks and green dots just below the candlesticks signaling a potential long. The big yellow arrows are not part of the indicator, they are for illustration. Can you see why that nice long did not get a green dot?
COUPLE OF THINGS
FIRST: SOMETIMES THE ANGLER WILL APPEAR AS ONE COLOR. THIS MEANS IT NEEDS RECALIBRATION. GO INTO THE INDICATORS PROPERTIES WINDOW, SELECT THE ANGLER, SCROLL DOWN TO ‘RECALIBRATE NOW’ AND CHECK THE BOX, THEN CLICK ‘OK’, INSTEAD OF ‘APPLY’.
SECOND: THE INDICATORS ARE SIMPLE IN LOOKS, BUT THEY ARE EXTENSIVE IN DATA PROCESSING. PLEASE GIVE THEM AMPLE TIME TO LOAD.
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