I have found the Holy Grail indicator for the Dow Jones - 100% right so far

For Thursday the 26th January 2023. This my EzAlgo V6 indicator which is a paid indicator on Tradingview. As you can see a "BUY" label has been printed. Also the DOW is sitting on a support level (see blue dotted line). At the bottom is the EzOscillator indicator which is an indicator made by the same person that created the EzAlgo V6 indicator. As you can see the EzOscillator has "flipped" from red to blue. This is a "BUY" signal which means that the DOW could be about to make a move to the upside in the short to mid-term.

SmartSelect_20230126_233308_Samsung Internet.jpg
 
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Not too sure about that one but I'll watch it carefully today.
TEAMTRADER
PS - got the move eventually and it was worth waiting for...........
 
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This is my "BATSONAR" indicator. As you can see the indicator has crossed the zero line back into the "GREEN". This is a "BUY" signal which means that the DOW could be about to make a move to the upside in the short to mid-term.

SmartSelect_20230207_211419.jpg
 
I have been messing about with the parameters and settings of one of my indicators called the ADS Oscillator. It was developed and invented by the trading platform I have been using for over 16 years. Advance Decline Sentiment (ADS) is an indicator based on the Advances-Declines and volume associated with advancing and declining stocks. It is used in technical analysis to evaluate market Breadth sentiment and predict future market trend. I have back tested the ADS Oscillator from the 7th May 2020. There were 150 trades altogether. 108 were winning trades and 42 were losing trades. That gives a win rate of 72%. This is quite a high win rate for a single indicator. It's difficult to find a single indicator that gives a higher win rate than this. I will be giving buy and sell signals based on this indicator so keep checking this thread every day. I will be giving signals at the end of the trading day on the close of the DOW.
 
batsonar said:
I have been messing about with the parameters and settings of one of my indicators called the ADS Oscillator. It was developed and invented by the trading platform I have been using for over 16 years. Advance Decline Sentiment (ADS) is an indicator based on the Advances-Declines and volume associated with advancing and declining stocks. It is used in technical analysis to evaluate market Breadth sentiment and predict future market trend. I have back tested the ADS Oscillator from the 7th May 2020. There were 150 trades altogether. 108 were winning trades and 42 were losing trades. That gives a win rate of 72%. This is quite a high win rate for a single indicator. It's difficult to find a single indicator that gives a higher win rate than this. I will be giving buy and sell signals based on this indicator so keep checking this thread every day. I will be giving signals at the end of the trading day on the close of the DOW.
Click to expand...
Here is a backtest of something similar.
Let’s make the following trading rules:

  • If the 2-day RSI of the advance-decline indicator goes below 15, then buy SPY at the close.
  • When the 2-day RSI of the advance-decline indicator goes above 85, then sell SPY at the close.
How has the strategy performed? Not particularly well:
Advance decline indicator backtest
The equity curve above is not particularly promising! The 229 trades have an average gain of 0.6%, but as you can see, the results are pretty inconsistent over the whole period. The profit factor is a low 1.55, way below our minimum threshold of 1.75.

We tried many strategy versions of the indicator, but we were not successful in making any good trading strategy.
Click to expand...
 
This is my ADS Oscillator indicator. As you can see the indicator has crossed the zero line back into the "RED". This is a "SELL" signal which means that the DOW could be about to make a move to the downside in the short to mid-term. There is a "Pivot Point" support level at 32,758 (see blue line) so it is possible the DOW could fall to this level. The ADS Oscillator indicator has a win rate of 72% when back tested 3 years.

SmartSelect_20230425_211145_MV Chart 2.jpg
 
The "SELL" single I gave yesterday turned out to be correct and the DOW Jones fell by 228 points today. As far as I can see from my indicators, there is a strong possibility of more downside to come over the short-term.
 
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Batsonar - are you able to do the same signal for the S&P500? I have a pal who lives close to me who trades live each day and if you are able to do the same I'd appreciate it.
Thanks
TEAMTRADER
 
TEAMTRADER said:
Batsonar - are you able to do the same signal for the S&P500? I have a pal who lives close to me who trades live each day and if you are able to do the same I'd appreciate it.
Thanks
TEAMTRADER
Click to expand...
Yes no problem TEAMTRADER. I can change the charts to the S&P 500 at the "push of a button". The DOW and S&P 500 seem to "move in tandem" though so the signals are almost identical as far as I can see. Might need to change the parameters and settings a bit to get the best results for the S&P 500.
 
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Closing price of the Dow Jones on Thursday the 27th April 2023. The rise today took me "off guard", I was not expecting a big move up. I thought the Dow was going to make another move to the downside in the short-term.

SmartSelect_20230427_213015_Finance.jpg
 
This is my ADS Oscillator indicator. As you can see the indicator has crossed the zero line back into the "GREEN". This is a "BUY" signal which means that the DOW could be about to make a move to the upside in the short-term. However I am going to sit this one out because as you can see on the chart there is a "Pivot Point" resistance level at 34,086 (see green line). Its already rejected from this level and could very well do so again. Also after the 524 point rise today, there could be some "profit taking" tomorrow. Also the indicators I use on Tradingview are not yet giving "buy" signals.

SmartSelect_20230427_214207_MV Chart 2.jpg
 
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