Pair Prowler [CR]

26 พ.ย. 2022

Pair Prowler by Cryptorhythms

Intro
Members needed a new scalping indicator, so of course I listened and delivered. Pair prowler is not crypto specific and can be applied to a variety of timeframes, markets, and tickers. Its meant to be a general purpose scalping aid providing actionable signals that help you time the market.

Description
This indicator relies upon various methods relataed to probabilities, statistics and data science to predict optimal times to buy or sell any given time series data. The goal was to create a tool that isolated short form trades, making it easier to follow a noisy market. With built in safety features to help trades make smart decision real time when it matters. The focus is making high hit rate uncorrelated returns to your base market.

There are still a large list of features to implement on the indicator. Most of the parameters will be made dynamic needed no changing or interaction from the user. This will also help prevent potential overfits from over-enthusiastic optimization =)

Private
This indicator is reserved for our members only to prevent decay as long as possible. You can view my signature at the bottom of this post for more information on membership. Membership seats are also capped!

Dont worry, there are 2 new free public scripts coming as well in the near future!

4 ธ.ค. 2022

เอกสารเผยแพร่

-Fixed various bugs.
-Added avg up/down settings
-Completely redid the divergence code
-Changed some plots

4 วันที่ผ่านมา

เอกสารเผยแพร่

█ OVERVIEW

Pair Prowler [CR] v6 Enhanced is a sophisticated oscillator-based trading system designed for traders seeking high-probability setups with multiple confirmation layers. The indicator combines proprietary signal generation with institutional-grade filters to identify optimal entry and exit points while minimizing false signals.

The system features adaptive zones that dynamically adjust to market conditions, multi-timeframe support/resistance analysis, volume-weighted mean reversion filters, and real-time performance tracking. A comprehensive confluence scoring system evaluates each potential trade across eight technical dimensions, allowing traders to filter for only the highest-quality opportunities.


█ KEY FEATURES

Adaptive Dynamic Zones
Rather than using fixed overbought/oversold levels, the indicator employs statistical methods to calculate adaptive zones that adjust to recent price behavior. These zones automatically widen during high volatility and tighten during consolidation, ensuring signals remain relevant across all market conditions.

VWAP Mean Reversion Filter
This filter uses volume-weighted price analysis to identify when price has moved significantly away from fair value. The system calculates statistical deviation from VWAP and only permits:
- Long entries when price is substantially below VWAP (oversold relative)
- Short entries when price is substantially above VWAP (overbought relative)

Higher Timeframe Support/Resistance Filter
To avoid entries near major reversal zones, the indicator analyzes pivot highs and lows from a user-selected higher timeframe. The system maintains a database of recent support and resistance levels and blocks trades that would occur too close to these critical price levels. This prevents getting stopped out by predictable institutional activity at key levels.

Divergence Detection
The indicator automatically identifies four types of divergences between price and the oscillator.

Risk Entry Signals
For aggressive traders, the indicator provides early warning signals that fire before the main entry triggers. These risk entries offer better entry prices but come with lower probability. They are visually distinct from standard entries and can be toggled on or off.

Safe Exit Zones
In addition to standard exit signals, the system identifies optimal profit-taking zones using statistical analysis and adaptive thresholds. These safe exit zones are highlighted with background coloring to alert traders when positions have reached favorable risk-reward levels.

Performance Statistics Panel
A comprehensive real-time statistics dashboard tracks:
- Total trades executed (long and short separately)
- Win rate percentages (overall, long-only, short-only)
- Profit factor calculation
- Total and average profit/loss per trade
- Largest winning and losing trades
- Maximum consecutive wins and losses

The panel can be positioned in any corner of the chart and updates automatically as trades close. Note that statistics represent theoretical performance based on signal timing and do not account for slippage, commissions, or execution delays.

Comprehensive Alert System
The indicator includes over 20 pre-configured alert types

█ HOW TO USE

Initial Setup
1 — Select your preferred base strategy from the Signal Settings group. Strategy 1 is recommended for most traders as it provides a balanced approach suitable for various market conditions.
2 — Configure the VWAP filter threshold based on your trading style:
Lower thresholds (1.0–1.5) for more frequent entries
Higher thresholds (2.0+) for fewer but more extreme reversals
3 — Set the HTF S/R filter timeframe to approximately 4–6 times your chart timeframe. For example, use 4H pivots when trading on 1H charts.

Reading Signals
Entry signals appear as triangles at the oscillator level:
- Green upward triangles indicate long entries
- Red downward triangles indicate short entries
- Small circles mark early risk entries

Exit signals appear as opposite-colored triangles. Background shading indicates special conditions like safe exit zones or averaging opportunities.

Interpreting Statistics
Use the performance panel to gauge strategy effectiveness:
- Win rates above 50% indicate positive edge
- Profit factor above 1.5 suggests robust performance
- Review max consecutive losses for position sizing guidance

Remember that past theoretical performance does not guarantee future results.

█ NOTES

Timeframe Considerations
This indicator works on all timeframes but performs optimally on 15-minute to 4-hour charts. Very low timeframes (1m–5m) may produce excessive signals, while daily and weekly charts may produce insufficient signals for active trading.

Market Conditions
The adaptive nature of the indicator allows it to function in both trending and ranging markets. However, extremely choppy or low-liquidity conditions may reduce signal quality. The confluence scoring system helps filter these periods automatically.

VWAP Behavior
VWAP resets at session boundaries for traditional markets (stocks) but runs continuously for 24-hour markets (crypto, forex). The z-score filter accounts for this difference automatically.

HTF Pivot Lag
Higher timeframe pivots require confirmation bars before being identified, introducing slight lag. Pivots are detected retrospectively once the full pattern completes on the selected timeframe.

Performance Tracking Limitations
The statistics panel tracks theoretical entry at close of signal bar and exit at close of exit bar. Actual trading results will differ due to:
- Slippage and spread costs
- Commission and fees
- Execution timing and delays
- Partial fills or rejections
- Overnight holding costs

Use the statistics as a comparative tool for optimization rather than a profit predictor.

Filter Interactions
All filters work sequentially. A signal must pass the VWAP filter, then the S/R filter. If any filter rejects the signal, it will not appear on the chart. This hierarchical approach ensures only fully validated setups generate alerts.

Optimization Guidelines
If receiving too many signals, tighten filter thresholds. If receiving too few signals, relax filters. Monitor the statistics panel over at least 50 trades before making significant parameter adjustments.