Color Game Indicator - Professional Trading Guide

Indicator Overview

The Color Game indicator is a sophisticated Williams %R-based trading system that combines:

Dynamic momentum analysis

Adaptive period calculation

Visual arrow signals (magenta and yellow)

Multiple alert options

Core Trading Logic

Key Components:

Adaptive Williams %R:

Base period = 3 + (Risk × 2)

Switches to shorter period (4) during strong trends

Dynamic overbought/oversold levels (adjust with Risk parameter)

Signal Generation:

Yellow Up Arrows: Bullish reversal signals

Magenta Down Arrows: Bearish reversal signals

Positioned at strategic price levels

Smart Features:

Auto-detects strong trends using range expansion

Adjusts sensitivity based on market volatility

Optimal Settings Configuration

ParameterDescriptionRecommended Values

RiskSensitivity level4-8 (higher = more conservative)

BarCountBars to calculate0 (all available) or 200-500

Alert_OnBarAlert trigger bar1 (confirmed signals)

Alert_PopupEnable popupsTrue for active trading

Alert_SoundUp/DnSound files"alert.wav" or "ding.wav"

Professional Trading Strategy

Best Timeframe Applications:

M15-H1: Ideal for day trading

H4-D1: Perfect for swing trading

Works across all liquid markets

Trading Signals:

Long Entries:

When yellow arrow appears

Confirm with price above recent low

Stop loss below signal candle

Target 1.5-2x risk

Short Entries:

When magenta arrow appears

Confirm with price below recent high

Stop loss above signal candle

Target 1.5-2x risk

Advanced Confirmation:

Wait for candle close beyond arrow level

Combine with trendline breaks

Volume confirmation for stronger signals

Slogan

"Trade in Full Color - Let the Market Reveal Its True Direction!"

Pro Trading Tips

Risk Management:

Start with Risk=6 for balanced signals

Adjust between 4 (aggressive) and 8 (conservative)

Never risk more than 1-2% per trade

Session Optimization:

Best during London/New York overlap

Excellent for Asian breakouts

Filtering Signals:

Only trade arrows in direction of 200 EMA

Avoid trading during high-impact news

Indicator Strengths

✓ Clear visual signals

✓ Adaptive to market conditions

✓ Customizable sensitivity

✓ Multiple alert options

Performance Tips

• For forex: EUR/USD, GBP/USD

• For stocks: Liquid large-caps

• For crypto: BTC/USD, ETH/USD

Recommended Pairings:

Volume indicator

Moving average trend filter

Support/resistance levels

Would you like me to develop any of these enhancements?

Multi-timeframe confirmation

Integrated stop-loss calculator

Advanced divergence detection

Dashboard version with statistics