This indicator shows us if the price is moving up or down based on the ratio of current price vs previous bar. If this ratio is above 1 then this indicates that the price is increasing, while if the ratio is below 1 the price is decreasing.
HOW TO USE: Set the desired EMA length, number of previous bars to compare with and offset.
Markets: It can be used to all markets.
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[* Potential LONG and SHORt entries (green and red circles)] [* Signal line (blue)]
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- Potential SHORT and LONG entries SHORT = red circle LONG = green circle - Signal line (blue)
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Removed unnecessary plots and variables.
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HMA added to bring more smoothness
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HMA Offset added
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Entry points are clear now. Green - LONG Red - SHORT
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Added SMA length for pricecomparison n-bars back EMA set to 100 Offset set to 25
@Izzatikhmal, It compares the current price with the price of n-bars back. Factor = close / close[n-bars back]. Then i compare the current Factor with 5 previous Factor. If it is greater then the sma(Factor, m) then chart is green otherwise it is red. In short: if the current price is greater then the avg of the past n-bars back closed price, then the chart is green, otherwise red. It is imo just a small indication to tell you if we are in a uptrend or downtrend. A upgraded version of this indicator is: The 20MA Game.
Note: With some smoothing techniques you get a very smooth chart.
The_ForexX_Mindset
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Tested and works, I’ve customized numbers and practiced moving the candles along with indicator and works. I’ve realized I have to also adjust the numbers again when switching coins. Each coin has a MA.
Wilson-IV
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@StockRuler, Thanks for your message. Good to hear it works.