Effective 3 EMAs - page 4
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trend strength
hi all,
i just added this indicator to illustrate the strength of the trend.
3 emas 14,34 and 50 and the indicator measure the position of the fastest compared with the other 2.
i am using it this way:
price closing above SMA20 (middle bollinger line) and trendstrength is green
go long exit when trend strength changes color.
opposite for going short.
hi all,
i just added this indicator to illustrate the strength of the trend.
3 emas 14,34 and 50 and the indicator measure the position of the fastest compared with the other 2.
i am using it this way:
price closing above SMA20 (middle bollinger line) and trendstrength is green
go long exit when trend strength changes color.
opposite for going short.Nnjeim, this looks really nice. I have 2 questions:
1--Does this indicator repaint? I hope you know what that means, I am asking if the indicator changes the color of a bar AFTER that bar has closed?
2--When would you re-enter the trade? I notice that often after bar changes color you could re-enter the trend.
Thank you for this.
Correct me if I'm wrong, but isn't MACD just a one ema subtracted by another? Why would you use MACD then if you already have EMA's? All MACD does is display the difference and a SMA of the difference. Also TrendStrength is just a variation of MACD.
And see where your thread is going - you wanted a simple trading system with few indicators, but the post just gets new and new indicators added
indicator
yes this indicator is a variation of macd. macd after all is a comparaison between 3 emas. this indicator takes into calculation the values (14,34 and 50)
that i adopted. in adition to the macd this indicator illustrates the strength of the trend.
Green and >0 ----> bullish trend development
Red and >0 -----> bullish trend is getting weak and possible trend change
opposite is valid for bearish signals.
It is possible to enter a trade when bar shift again to green for instance after a red series of bars. ( opposite is valid for bearish signals)
the indicator does not repaint since it is simply averaging emas.
cheers,