Ruby River is our special indicator. It consists of a moving average based on bar highs & another moving average based on bar lows. The region between 2 moving averages forms a so-called trend river! When the price closes below the lower MA, a downtrend is formed; and when the price closes above the upper MA, an uptrend is formed. This river can be broadened or narrowed by a user-defined offset based on ninZaATR or standard deviation.
An important part of this indicator is PULLBACK signals. A pullback is certified by the market traveling back into the river (verified by a close) and then going out the river again to resume its trend (verified by a close). Pullbacks are marked by red & blue symbols whose shapes look similar to ruby gemstones, with the meaning that there are rubies in this river. It's real, trading profits can buy rubies :)
A must-consider indicator for trend followers!
Key features:
- Plot a moving average based on bar highs & a moving average based on bar lows
- Allow defining moving average (with
)
- Allow smoothing moving average
- Paint the cloud between 2 moving averages to clearly show uptrend vs downtrend
- Colorize bars to clearly show uptrend vs downtrend
- Paint plot to clearly show uptrend vs downtrend
- Paint chart background to clearly show uptrend vs downtrend
- Colorize bars based on 2 phases: uptrend, downtrend
- Trigger alerts on trend shift
- Trigger alerts on pullback
- Print markers on trend shift
- Print markers on pullback
- Be NinjaScript ready for advanced usage, only restricted by your imagination
- Expose dedicated NinjaScript signals
Dedicated NinjaScript signals:
- Signal_Trend: 1 = uptrend, -1 = downtrend
- Signal_Pullback: 1 = uptrend pullback, -1 = downtrend pullback, 0 = no pullback
- 14 Aug 2020 - Massive changes, fixes and improvements were made (DPI, display name, Z order, alert properties, marker string, bar painting, chart info, property naming/positioning/grouping); regular ATR was replaced with ninZaATR for better performance; alert popup was visually enhanced.
- 23 Jul 2019 - Sound selector was fixed.
- 03 Apr 2019 - Font issue in Windows 7 was fixed.
- 25 Mar 2019 - The indicator was released (built new).
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