Please could someone be kind enough and build me a signal generator/alarm that will show the crossing of 2 MVAs overlayed on an RSI? (See attached screen-print)
RSI @ 14. Overlayed with 8-EMA on Previous Indicator's data as well as 8-SMA overlayed on First Indicator's data.
Reason: I run this on my Hourly charts to show me (in advance) when the hourly chart is turning. Enough research have shown that for us Intraday traders, the hourly chart is THE most important in terms of direction.
Indicator for MT4
ShadowWz, you are a star, thx! I will keep you posted on the effectiveness of this. This time I managed to get the screen-print attached. Please peruse and comment5. Thx.
No, you are NOT a STAR!! You are a 5-STAR!! Absolute sheer brilliance!!
For those of you interested, you should add the following LEVELS to it: (not my brilliance, but that of Dr. Connie Brown whom I regard as one of the finest traders in the world)
In BULL-markets: Levels are: 90 / 80 / 50 /40
In BEAR-markets: Levels are 65/ 55 / 30 / 20
Trust it will add to your success in determining the change in direction.
can you expalin/elaborate how you use those level added? Or direct me to any article by Dr. Connie Brown please?
Thanks in advance.
i like this indicator with the proper knowledge of pivots it can be effective
can someone add alerts to this?? (the dots representing buy/sell signals)
Her work was published in her book called........"Technical Analysis for the Trading Professional" by Constance Brown. (ISBN 0-07-012062-2) McGraw-Hill.
Basically, she is saying that you use different settings in different markets, hence the different levels I have posted here. Let me assure you, it is 100% accurate.
Overbought in BULL-market is at 90%, but only @ 65% in a BEAR-market, but I am sure you can now work that out quite easily.
With this new signal-generator, I now can tell upfront which direction the HRLY-chart is heading and that is a plus. In the past I had to rely on manually checking it every hour, now it makes my life so much easier.
Thanks for the explanation.
My best wishes for you too.
ShadowWz, big thanks.
Yes, almost forget.. Big thanks to you too Shadow.
My best wishes.
addition indicator CCI cross specified level.