This is a hybrid version of X Meter and it is a little more responsive. Both indicators still have their uses. This one is better on more time frames, but X Meter is still more accurate on the 5 and 30 minute time frames.
I created this indicator to see the tops and bottoms that X Meter was missing. This indicator uses a custom Triangular Moving Average script that I wrote in MQL4 years ago. It does a pretty good job. I use this indicator along with X Meter to confirm reversals.
Basic idea: wait for the yellow line to hit one of your outside levels (red or green), then wait for the yellow line to cross over the blue dots (you can change it to a line in the settings if you prefer). Think MACD, but much more reactive.
Commenti
anilsadhu1975
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Liked
snbalar
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Hi, can i get access please ??
legno23
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could you kindly explain better how to read it .. I honestly didnt understand very well :)
riffster21
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@legno23, Green = buy, Red = Sell, if levels are above/below the aqua blue line, markets will consolidate before the next push.
steveb4088
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this is awesome thanks for sharing bro. Looks like a very accurate system.