SSL Hybrid indicator

SSL Hybrid indicator

Short explanation of the SSL Hybrid Indicator components

SSL1 / Baseline channel

SSL stands for semaphore signal level, typically used as a channel for trend trading, but here SSL1 acts as the trend detection aspect of the indicator and is referred to as the baseline. It has three lines, and when these lines are pink, the trend is bearish, and when blue, bullish. If the lines happen to turn gray, this is because the price is interacting with the baseline, and this can be an early indication that the trend is about to change.

There are several options available for how this baseline is calculated.

SSL2

In this case, the SSL combines the price position with respect to moving averages channel and ATR channel. As in the SSL1 there are several options available for how this indicator is calculated.

SSL3 (EXIT trades)

The arrows are buy and sell labels, and these are independent of the baseline, meaning if the baseline shows a bearish trend, you might still receive bullish signals, and if the baseline is bullish, you will still receive bearish signals. This is because they can also be used as exit signals depending on how you are trading with the indicator.

Aditional ATR lines

We have also ATR bands with the SSL Hybrid indicator. ATR stands for average true range, and it calculates the volatility in the market and shows us the average area prices likely to fluctuate within. This is great because it allows us to see what is the current volatility of the market, and we can set stops at areas that price is unlikely to reach.

Original description from author (Mihkel00)

This script is designed for the NNFX Method, so it is recommended for Daily charts only.
Tried to implement a few VP NNFX Rules.
This script has a SSL / Baseline (you can choose between the SSL or MA), a secondary SSL for continuation trades and a third SSL for exit trades.
Alerts added for Baseline entries, SSL2 continuations, Exits.
Baseline has a Keltner Channel setting for “in zone” Gray Candles.
Added “Candle Size > 1 ATR” Diamonds from my old script with the criteria of being within Baseline ATR range.

SSL Hybrid indicator ProRealtime code

Below I’ll leave the code so you can copy and paste it into your probuilder.

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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