Lets recapitulate what we accomplished so far
1st We have generated average that is powered by statistically correct behaviour of data.
2nd We have generated average that is driven strictly by volume of the analyzed data
3rd We have generated 3 oscillators, each driven by different portion of total data stream and also differing in construction.
4th We have generated a channel that surround the data stream allowing certain degree of zigzag movement within the channel to keep us in trade for as long as feasible.
5th We have developed an automatically adjustable length driven by data behaviour itself. This length gets to be shorter in trending market, thus allowing for faster reaction to trend change and elongates in sideways market to prevent whipsawing of the entries.
6th We have established several type of entry schemes. We will let computer program decide which entry to use because even though particular entry pattern may be detected, the slope of the average may not be steep enough to warrant that particular entry, so program will wait for correct conditions.
What type of inputs do we need to generate the above averages, oscillators and channels? Answer is quite obvious, beside High, Low, Close and Volume, NONE !! That is why this type of indicator or system is fully automatic. Market action dictates the behaviour, not some pre-optimized inputs or human sentiment.
When we put this type of processes into one indicator, we can plot a ball or text or play sound to warn us of possible upcoming trade and when all conditions are met, we can display a ball of different color to indicate that trade was taken at our conditions.
