Insync Index, by Norm North, is a consensus indicator. It uses RSI, MACD, MFI, DPO, ROC, Stoch, CCI and %B to calculate a composite signal. Basically, this index shows that when a majority of underlying indicators is in sync, a turning point is near.
There are couple of ways to use this indicator. - Buy when crossing up 5, sell when crossing down 95. - Market is typically bullish when index is above 50, bearish when below 50. This can be a great confirmation signal for price action + trend lines.
Also, since this is typical oscillator, look for divergences between price and index.
Levels 75/25 are early warning levels. Note that, index > 75 (and less than 95) should be considered very bullish and index below 25 (but above 5) as very bearish. Levels 95/5 are equivalent to traditional OB/OS levels.
The various values of the underlying components can be tuned via options page. I have also provided an option to color bars based on the index value.
Lazy Bear I'm somewhat new to the community and this is my favorite indicator. I would like to start backtesting it and I do not know where to begin. Can I please get your assistance.
CloudVaping
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Came across this indicator by chance, been giving it a thorough test run, and damn!...this thing is deadly accurate (would seriously pay for this indicator to have it on my MT5). Thanks LazyBear...
Stock-Picker
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@CloudVaping, Dear, May you share the backtesting script? I am having troubles in making it work ! Thank you in advance!
berkusacoin
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hi could you please sent me LB_LSLR indicator link i coudnt find it thanks
TonyCampbell
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Thank you LazyBear ! Would it be possible to allow the thresholds to be user defined? 95/5 is a little restrictive for me; I might prefer 90/10 for OB/OS.
Tried to change the code, but didn't work for me......
Thanks for your ideas!