1) Indicator setting for prices high , low and medium .
2) Prices closing above 3 MA , color will be blue .
3) Prices closing below 3 MA , color will be red.
4) prices closing in between , color will be yellow .
(Yellow line can avoid for choppy market)
May be i don't know how to explain , please see the picture
That would need too much drawing buffers (metatrader 4 - even the new one - can have only 8 drawing buffers)
please look at steve primo videos on youtube.
he uses 50ma and price closing above 50ma makes 3 closes and price closes in top25% of range for longs
price closes 3 closes below ma50 and price bar closes in bottom 25% of bar range.
further he uses long confirmation if price closes above high of prev bar or short confirmation if price closes below low of previous bar. above all he uses a color bar tool based on momentum rising (green color) or momentum falling-red color to give extra confirmation,the tool is called PET-D .
this works good.
Is this and advertisement or a trading system?
What is PET-D?
It's So Good
chasing the PM quota
MA fibo channel
I have an idea about the Primo's indicator Pet-D. It shouldn't be a problem for Mladen and mrtools to recreate the indicator on these parameters:
1/ Price must close above 50SMA
2/ Bar must close in upper 25% of its length
3/ Price is rising from below above 50 line or it is already there on RSI (5)
1/ Price must close below 50SMA
2/ Bar must close in bottom 25% of its length
3/ Price is falling from above below 50 line or it is already there on RSI (5)
If those conditions agree green/red arrow appears below/above the setup bar.
We would add the Velocity indicator on chart or if it is possible put the velocity coding directly to the indicator. I am not a coder or programmer, therefore no idea if it is possible to combine in one indicator.
The RSI(5) could be omitted if difficult to code. The Pet-D is momentum bars indicator painting the bars red or green according to the momentum similar to the Velocity indy. They want $1.495 on special, regular $1.995 for the Pet-D!
SAKS channel indicator saks_chanell.mq4
Does anyone know if either the SAKS or Fibo channel indicators immediately above repaint?
Please test this quick version of Simple Moving Average Channel!
GBPUSD simulation on 2 months gave me 89$ profit against 328$ loss ...
Is it just me?