New Powerful Secret Indicator🤫!!!

Dear Traders!

This indicator is not talked about much the indicator is based on Nadaraya-Watson smoothers and creates an envelope indicator. It includes integrated alerts triggered when the price crosses the envelope's boundaries. Unlike the Nadaraya-Watson estimator, this indicator uses a contrarian approach.

Please note that, by default, this indicator may be repainted. Users can choose a non-repainting smoothing method in the settings. The triangle labels ensure the indicator's utility in real-time applications.

Usage

This tool identifies price extremes by estimating the underlying trend and calculating the mean absolute deviations from it. The results are added to or subtracted from the trend estimate. The non-repainting method uses an "endpoint Nadaraya-Watson estimator," producing results similar to classical band indicators. The repainting method uses the Nadaraya-Watson estimator to estimate the underlying trend, with the band boundaries constructed similarly to the non-repainting method.

Expect price reversals when crossing an envelope boundary. Triangles on the chart indicate these crosses, and they remain in their initial position even if the cross is no longer visible after envelope recalculations. Alerts for these crosses are integrated into the indicator, but we do not recommend relying solely on this method for real-time applications, as there is no data to support its performance compared to more traditional bands, envelopes, or channel indicators.

Settings

Bandwidth: Controls the smoothness of the envelopes; higher values result in smoother lines.

Mult: Controls the width of the envelope.

Source: Specifies the input data for the indicator.

Repainting Smoothing: Determines whether to use a repainting or non-repainting method for the indicator calculation.

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