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This is a famous indicator I have seen used by many Forex traders in MT4 platform. This indicator uses the difference between EMA of "close" and EMA of "open" to form the oscillator lines (not just a convergence/divergence calculation between EMA of "close")
Current market state is determined by which histogram is above zero line. For more confirmation, wait for it to cross above Signal line too. Crossing down the signal or zeroline should be the exit condition. Also, look for divergences.
Use plot labels BullHisto/BearHisto/BearLine/BullLine/ZeroLine/Signal for setting up alerts.
Complete list of my indicators:
-----------------------------
https://docs.google.com/document/d/15AGC...
Current market state is determined by which histogram is above zero line. For more confirmation, wait for it to cross above Signal line too. Crossing down the signal or zeroline should be the exit condition. Also, look for divergences.
Use plot labels BullHisto/BearHisto/BearLine/BullLine/ZeroLine/Signal for setting up alerts.
Complete list of my indicators:
-----------------------------
https://docs.google.com/document/d/15AGC...
// // @author lazybear // list of all my indicators: // https://docs.google.com/document/d/15agcufjz8ciuvwfj9w-ikns88gkwokbcvbymevm5mlo/edit?usp=sharing // study("Mirrored MACD [LazyBear]", shorttitle="MIRRMACD_LB") length=input(20), siglength=input(9) colorBars=input(false, title="Color bars?") ma(s,l) => ema(s,l) mao=ma(open, length), mac =ma(close, length) mc=mac-mao, mo=mao-mac, signal=sma(mc, siglength) plot(0, title="ZeroLine", color=gray) plot(mc, color=green, linewidth=2, style=histogram,title="BullHisto") plot(mo, color=red, linewidth=2, style=histogram,title="BearHisto") plot(mo, color=red, linewidth=2,title="BearLine") plot(mc, color=green, linewidth=2,title="BullLine") plot(signal, color=blue, linewidth=2,title="Signal") us=max(mc,mo), bc=us>=signal?(us==mc?lime:maroon):na barcolor(colorBars?bc:na)
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970
List of my indicators at Appstore: http://blog.tradingview.com/?p=970
Commenti
I've been testing with this and was wondering if you have abandoned the indicator
or are still fine tuning any problems you've uncovered.
Thanks so much Lazy Bear !!!!
Wishing you lots of pips in your pocket for 2015 ~~~~~~
Check my list https://docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?pli=1
Item 89 is Elder Impulse.
The sharp eyes of a trader ~~~~~
I didn't think to scroll down . . .
Thanks so much !!!!!!!!!!!!!!!!!!