This chart display how value change of (low,high,close,open) is considered as a factor for buying or selling. Each element take same weight when consider the final price. The price change over a certain threshold would be the decision point (buy/sell)
Factors considered in this chart 1.Quotes: High,low,close,open,volume. If one of them higher than previous day, then it increase, otherwise decreases. 2. Multipler: If you think one quote is more important than other (High more important than close, you can set multipler higher) 3. EMA smoother: It is using to balance the price effect. Like if price increased dramatically, EMA would notify whether could be a good time to sell. (Because high deviation between MA and price suggest price increase too fast) 4. Length of line: set length of line for you need 5. Percentage change: how much percentage change is considered a significant change? 5%? or 10%? In which case should it count toward the final indicator? Adjust percentage change needed, smaller for minutes chart (less than 10) higher for hours chart (10-20), even higher for day chart
Buy/Sell method: 1. When green dot appears, wait after price start to get close to moving average to find the low point and buy. 2. Reverse for red dot.
I do not understand the Buy/Sell method instructions: "wait after price start to get close to moving average"..... which MA?
And is there a need to adjust the settings for different TF's?
xjtlumedia
⋅
@gopala108, hello, I didn't plot moving average line on the indicator, but the algorithm is using moving average calculation based on open, close, high, and low to know whether the price has changed significantly. If you want to have a best selection of red and green dot, I recommend you to adjust setting for different TFs, but it is not compulsory
monophobiafafe
⋅
Hi! The Red dots are not appearing!
xjtlumedia
⋅
@monophobiafafe, Hi, the script is updated, please take a look
"wait after price start to get close to moving average"..... which MA?
And is there a need to adjust the settings for different TF's?