Hull Butterfly Oscillator
Category: Indicator Version: 1.02
The Hull Butterfly Oscillator (HBO) is an oscillator constructed from the difference between a regular Hull Moving Average ( HMA ) and another with coefficients flipped horizontally. Levels are obtained from cumulative means of the absolute value of the oscillator. These are used to return dots indicating potential reversal points. This indicator draw line in separate window, plus blue dot (for buy signal) when hull oscillator is peak and red when sell signal. It also includes integrated alerts where signal occur and foward message to Telegram channel or group if you want.
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At v1.02, we add option to alert when hull + ema condition. In detail, the indicator will alert when there is a buy signal for hull butterfly oscillator and the price is above 2 EMAs (default with period 34, 89 : which suggested by sonicr strategy). Contrast for sell signal alert. We have tested with many different symbol, condition and this strategy works in most time.
Settings
· Length: Number of past price inputs processed by the oscillator
· Lookback bar: Default 400 is number of bar caculate when init indicator.
· Minbar to defined peak: Default 5 is bar look back to check extreme point.
· Notification type: You can choose Alert,Telegram or MT5 mobile app. If you want to forward message to telegram, please read the end of this intrution
· Notification time: You can choose noti when hull signal only or hull signal and trend (Defined by 2 EMA)
· EMA short period (default: 34)
· EMA long period (default: 89)
Some other setting if you choose forward signal to telegram
· Telegram channel_id: Telegram channel id or group id. Using 0 if do not foward message to telegram
· Telegram bot token: Telegram bot token. Using blank if do not foward message.
· Telegram message template: Template of message that send to telegram.
Explanation
The name of the indicator is directly derived behind the coefficients used for its calculation. Displaying regular Hull coefficients alongside those flipped horizontally slightly resemble a butterfly , the difference between these sets of coefficients allows obtaining the HBO.
This operation allows to obtain a more structured impulse response, potentially giving less undesired performances on the frequency domain compared to simpler operation involving subtracting the HMA to a SMA , EMA or WMA . Default indicator level is average value by lookback bar, it divide price zone to uptrend and downtrend
Usage
The oscillator can be used like most available oscillators. The sign of the HBO allows determining the current trend direction, while divergences with price might indicate potential reversals.
Configure notifications via telegram
Our solution is creating a service – tool which runs in background to forward messages from the indicator to telegram. This is free here (Telegram helper for indicator).
Category: Version: 1.02
The Hull Butterfly Oscillator (HBO) is an oscillator constructed from the difference between a regular Hull Moving Average ( HMA ) and another with coefficients flipped horizontally. Levels are obtained from cumulative means of the absolute value of the oscillator. These are used to return dots indicating potential reversal points. This indicator draw line in separate window, plus blue dot (for buy signal) when hull oscillator is peak and red when sell signal. It also includes integrated alerts where signal occur and foward message to Telegram channel or group if you want.
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Category: Version: 1.00
Adrian MOROSAN (2011) examined the same set of data using both traditional and modified RSI. He also incorporated trading volume in the method's calculating formula. Finally, findings acquired using the indicator's traditional form will be compared to those obtained using the modified version. He found that, in comparison to the original form, his version resulted in a greater advantage when a different, even opposing interpretation was used. And, in the alternative case, it resulted in much larger losses. This implies that the study indicates that short-term trends will persist, at least temporarily. It seems as if the conventional view is incorrect, while the alternative understanding produces beneficial results. Using the RSI version that we suggest yields the best results. Based on his research, we have created an indicator on MT5 that allows finding and confirming price reversal points.
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