Blackflag FTS v6 [BFTSv6] Reference Manual - Blackflag FTS v6
1. General Description
Blackflag FTS v6 is a trend-tracking and wavelength indicator designed to identify high-probability entry points through the use of an adaptive Trailing Stop (ATR-based) and Fibonacci retracement levels.
This indicator not only signals trend direction but visualizes "value zones" (Flag Zones) where price tends to react during healthy corrections, offering tiered signals (L1, L2, L3).
2. Core Logic Engine
The indicator uses a True Range calculation with two modes:
Modified: Smooths the range by considering gaps and bar limits, ideal for markets with variable volatility.
Unmodified: Traditional ATR calculation.
The Trailing Stop (main line) adjusts dynamically. When price closes above/below this level, the indicator determines the trend change and establishes a new "Extremum" (pivot).
3. Entry Signals (Fibonacci Entries)
Once the trend is established, the indicator plots 3 critical levels from the last pivot (Extremum) to the Trailing Stop:
Level 1 (61.8%): First pullback entry opportunity.
Level 2 (78.6%): Intermediate entry (High value zone).
Level 3 (88.6%): Deep entry (Extreme value zone).
Signals:
L1, L2, L3: Appear when price crosses below Fibonacci levels in an Uptrend (Long).
S1, S2, S3: Appear when price crosses above Fibonacci levels in a Downtrend (Short).
4. Style Configuration (Inputs)
Version v6 allows complete and independent visual customization:
Main Configuration: ATR period adjustment, sensitivity factor, and trail type.
Style - Trend: Colors for the stop line and pivot points (Extremum).
Style - Fibonacci Lines: Specific colors for each level line (independent of fill).
Style - Flag Zone Fills: Full customization of fills (colors and transparency) to visually differentiate accumulation zones.
Style - Signals: Color of entry triangles.
5. Information Panel (Dashboard)
Includes an institutional table in the upper right corner that displays in real-time:
Trend Status (Long/Short).
Current Trailing Stop value.
ATR(14).
Price distance to stop.
Last Extremum.
6. Alerts
The script includes pre-configured alert conditions for each Fibonacci level and for stop line changes, allowing you to automate notifications.
⚠️ Legal Disclaimer
**Disclaimer: Trading involves substantial risk of loss and is not suitable for every investor.**
The **Blackflag FTS v6 ** indicator and all content provided for **educational and informational purposes only** and should **NOT** be construed as financial, investment, legal, tax, or any other form of professional advice.
1. **No Financial Advice:** The information, signals, charts, and analysis provided by this script do not constitute financial advice or a recommendation to buy, sell, or hold any financial instrument. You should not interpret any such material as legal, tax, investment, financial, or other advice.
2. **Past Performance:** Past performance is not a reliable indicator of future results. The trading strategies and indicators presented may have performed well in historical backtests, but there is no guarantee that they will perform similarly in the future.
3. **Risk of Loss:** Trading in the financial markets, including but not limited to stocks, options, futures, and forex, carries a high level of risk and may result in the loss of part or all of your invested capital. You are solely responsible for assessing the suitability of any investment or trading strategy based on your personal financial situation, investment objectives, and risk tolerance.
4. **Technical Nature:** This is a technical analysis tool. Technical analysis is based on historical data and patterns, which may not predict future market movements accurately. Market conditions can change rapidly, leading to unexpected losses.
5.**Limitation of Liability:** The author and any associated parties shall not be held liable for any direct, indirect, incidental, special, or consequential damages arising out of the use of, or inability to use, this indicator or the information provided. You agree to use this tool entirely at your own risk.
By using the **Blackflag FTS v6 ** indicator, you acknowledge that you have read, understood, and agree to be bound by this disclaimer.
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