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Indicators

Elder_Impulse_System - indicator for MetaTrader 5

Scriptor | English Русский 中文 Español Deutsch 日本語 Português
Views:
8143
Rating:
(16)
Published:
2018.12.18 19:08
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Elder Impulse System signal indicator is Alexander Elder's impulse system. The system uses the slope of the exponential moving average and the MACD histogram to classify trends.

The indicator has three input parameters:

  • EMA period
  • MACD fast EMA period
  • MACD slow EMA period

The system has four types:

  1. EMA is rising, MACD histogram is rising: the signal is 'Long or stand aside, no shorting'
  2. EMA is falling, MACD histogram is falling: the signal is 'Short or stand aside, no buying'
  3. EMA is rising, MACD histogram is falling: the signal is 'Either long or short'
  4. EMA is falling, MACD histogram is rising: the signal is 'Either long or short'

Three signals can be retrieved from four states:
Long or stand aside, no shorting,
Short or stand aside, no buying and
Either long or short.
These signals are displayed by the indicator.


Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22619

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