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ALEXSHORT

MTF_DFMA + Over Thrust Up / Down v2.1

ALEXSHORT Updated   
Simple Moving Average (SMA) Exponential Moving Average (EMA) Relative Strength Index (RSI)
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simplemovingaverage ema relativestrengthindex
// @version=3
// Copyright @ ALEX
// alpha tester : Norakichi Senpai Santa Norakichi Prop Senpai
// alpha tester : Prop trader : SHINNchan
// Special Thanks WBZ Trading Group

// Function 1. Triple Line, Multi Time Frame _ Difference from Moving Average
// You can use 3-type of DFMA. Each DFMA can apply difference Resolution.
// This means that you can grasp High Time Frame Trend and can avoid Thoughtless Contrarian Scalping Entry.
// for example, DFMA_#1 is 1min and DFMA_#2 is 30min.

// Function 2. By coloring in DFMA_#1 to show "Over Thrust Up". The coloring is depend on "RSI" using OHLC.
// So you can grasp short term "Over Thrust Up", and also "RSI Divergence" from coloring.
Release Notes:
// Add input menu
1. Draw OTU/D Line
2. Magnification for OTU/D for DFMA_#1

From this OTU/D Line, you can grasp RSI Divergence.
Release Notes:
Version 2.2 is released.

From DFMA_#1 color, you can grasp rough RSI value.
For many traders, accurate RSI value is not necessary, but they want to know rough RSI value.
This indicator will show you that "rough RSI value", and "RSI Divergence" from DFMA #1's color and change. By combinate DFMA and RSI, you can know more strong reasons for "contrarian entry".

For example...
Case of over 90, DFMA #1 color is Deep Pink.
Case of over 80, DFMA #1 color is tomato.
Case of over 70, DFMA #1 color is yellow.
Case of under 30, DFMA #1 color is aqua.
Case of under 20, DFMA #1 color is Lime.
Case of under 10, DFMA #1 color is Deep Pink.
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Disclaimer

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