This indicator uses 3 indicators :
- 1Min timeFrame MACD
- EMA SHORT (default set to 50)
- EMA LONG (default set to 200)
Better to use this indicator with adding the 2 EMAs on the chart in complement
This indicator puts in lights the downtick and uptick which are higher / lower than the average or the Highest / Lowest histogram bar (depends on the settings you chose)
How to use it for longs :
1 - Use 5min timeframe
2 - Histogram is in red (means that EMA SHORT > EMA LONG and histogram is lower than average or lower than the lowest bar depending on the sttings you chose)
3 - Pull back of the price
How to use it for short :
1 - Use 5min timeframe
2 - Histogram is in green (means that EMA SHORT < EMA LONG and histogram is higher than average or higher than the highest bar depending on the sttings you chose)
3 - Pull back of the price
Why use this indicator ?
It's easier to read when you can enter a long (red down bar for longs by default) or short (green up bar by default) since the bars are colored on the MACD chart.
If it's not the good time to enter a trade, bars of the histogram will be colored in grey (by default)
I suggest not to change the following parameters :
- EMA lengths
- MACD lengths
Advice for Take profit : 0.5% and for stop Loss : 0.4%
Next steps for development : Change automatically the timeframe of the MACD
- 1Min timeFrame MACD
- EMA SHORT (default set to 50)
- EMA LONG (default set to 200)
Better to use this indicator with adding the 2 EMAs on the chart in complement
This indicator puts in lights the downtick and uptick which are higher / lower than the average or the Highest / Lowest histogram bar (depends on the settings you chose)
How to use it for longs :
1 - Use 5min timeframe
2 - Histogram is in red (means that EMA SHORT > EMA LONG and histogram is lower than average or lower than the lowest bar depending on the sttings you chose)
3 - Pull back of the price
How to use it for short :
1 - Use 5min timeframe
2 - Histogram is in green (means that EMA SHORT < EMA LONG and histogram is higher than average or higher than the highest bar depending on the sttings you chose)
3 - Pull back of the price
Why use this indicator ?
It's easier to read when you can enter a long (red down bar for longs by default) or short (green up bar by default) since the bars are colored on the MACD chart.
If it's not the good time to enter a trade, bars of the histogram will be colored in grey (by default)
I suggest not to change the following parameters :
- EMA lengths
- MACD lengths
Advice for Take profit : 0.5% and for stop Loss : 0.4%
Next steps for development : Change automatically the timeframe of the MACD
Release Notes:
Bug correction on ticks not hilighted properly
Release Notes:
Alerts settings added