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Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

votes: 13
2018.04.10 15:11

The indicator is using 3 instances of Hull Moving Average. The Hull Moving Average (HMA), developed by Alan Hull, is an extremely fast and smooth moving average. In fact, the HMA almost eliminates lag altogether and manages to improve smoothing at the same time. Combining 3 instances of Hull averages to 3 prices (Close, High and Low) can help in giving us a sort of an over-all look at the current trend assessment.

Probably the best way to use is to wait for the 3 instances to have the same slope color and then to use that slope as an indicator of a current trend, but the channel can be used too (for ranging periods when the channel can be used as a sort of a no trade zone). In any case, some experimenting with the Hull period is advised for different symbols and different styles of trading.

RSI bands RSI bands

The RSI bands indicator helps in multiple ways, but mainly in visualizing on the main chart what price change would trigger the expected overbought or oversold signals.

Renko 2.0 ATR Renko 2.0 ATR

This non-trading utility generates custom symbol information on 1M chart.

RSI of Hull RSI of Hull

The Relative Strength Index (RSI) is a momentum indicator developed by noted technical analyst Welles Wilder, that compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security. It is primarily used to attempt to identify overbought or oversold conditions in the trading of an asset.

Zero lag MA Zero lag MA

According to creators, the ZeroLAG MA indicator is a Moving Average with zero delay. If we agree or not, does not matter since, compared to some "regular" Moving Averages the lag it has is significantly lower, so it can be used in any system where less lag is of great importance.