Hi Traders,
Hope you are all doing great. I'm putting together this thread so I can share some of the features and functionality of ActiveGeoKing, an indicator that I spent many years developing and improving to support my own trading. The indicator has extensive features but no documentation, so I am happy to answer questions here for anyone who sees value in using the indicator to support their trading.
GeoKing in its full version is available for anyone to download and use and can be found in the indicator download section for NT8 on this site here
https://nexusfi.com/local_links.php?catid=27
What is GeoKing?
Geoking for NT8 leverages its own custom layer built on top of the zig zag indicator to automatically identify the three most relevant swings of any chart. A feature-rich toolbar allows the user to quickly shift the identified swings to their preference.
The identified swings are used to generate a wide array of technical price
points based on Fibonacci retracements and extensions, as well as
pivot highs and lows,
floor trader pivots, 3 day balance line, market open, trendlines and corrective/impulsive measured moves from Elliot wave theory. These price points can be considered areas of higher significance for the trader to consider potential future
support and resistance to occur. In my experience when multiple significant technical price points cluster together in a tight
range, these can be good areas to control risk in entries for rejoining an established trend at the conclusion of a retracement.
For anyone out there that is familiar with Bryce Gilmore's book "Trading to Win", this indicator will be recognised as highly aligned with his method of trading. The indicator utilizes an XABCD marking system, also common in other methods of TA.
Inbuilt algorithms detect when price points are invalidated by market movement so as not to display irrelevant price levels wherever possible.
Reporting of price points and swing measurements are all displayed on the screen and can be toggled on and off using the toolbar for all swing degrees and price level types.
The indicator options provide an exhaustive list of configuration options for tolerances and customized ratios for the user's preference.
Who's it for?
It's for anyone that appreciates the art of tracking swings (especially in multiple degrees simultaneously) for understanding the unfolding strength/weakness and identifying significant price points relevant to changing market structure and controlled risk market entries. This indicator is for any market and any time frame.
On it's own, I think that this indicator has value if only used for the automatic swing identification for the purpose of tracking of previous highs and lows and trendlines that are in play for support and resistance. The indicator looks far back so there have been many a time where it has identified or reminded me of a far-back price point that I would have overlooked without it.
That said, once swings are actually identified, they can be used for the generation of other price points of which the indicator offers many. Geoking can be used effectively for a small spectrum of technical identification or the whole lot, whatever the trader chooses. The settings for GeoKing are all exposed to the chart template so saving the chart template means the settings will persist on
reload.
This Thread
The plan is to drop in and out here as time permits to share features and uses for the indicator, post by post. If there is interest, I would be delighted to answer your questions.
Happy trading!
Thank you for sharing it! Are you still developing it? It would be great if you could expand on the manual a bit when you have the time and opportunity!?