Volume-Weighted BullsBearsEyes Oscillator and Dynamic Thresholds
Summary
This document describes a volume-weighted version of the BullsBearsEyes oscillator, displayed as a colored histogram. It explains that the modified indicator recalculates its overbought and oversold levels using the same formula as the oscillator, so the thresholds vary rather than remaining fixed. Two levels on each side of the indicator are defined to signal potential breakouts.
The input thresholds are shifted relative to the source indicator’s baseline and scaled, then multiplied by volume at each indicator tick. The document gives parameter values for those levels but does not explain the original BullsBearsEyes calculation, provide trading rules for acting on signals, or show backtest or performance evidence. It therefore offers a brief indicator modification rather than a validated strategy. Its usefulness depends on understanding the original oscillator and testing how volume scaling and threshold crossings behave on the intended market and timeframe.
Key ideas
- The indicator presents BullsBearsEyes readings as a volume-weighted color histogram.
- Overbought and oversold thresholds are recalculated instead of remaining fixed.
- Two threshold levels on each side provide breakout indications.
- The document gives no performance evidence or complete rules for trading the indicator.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.