That indicator (the basic formula of the indicator) is a conversion of Amibroker indicator (you can find it here : Download Behgozin Strength Finder For Amibroker (AFL) ), Hust quotinf their description :
Simply It shows the Strength of any Stock so you can select the best stock
Also can be used as buy and sell system by crossing zero line
It can be used in daily, weekly or monthly time frame. Also you can see the results by Exploration
So those are the ema, hgighlow and lwma period explained (high low period if a part of the value calculation). We have tried to use it differently hence the additional parameters. The ObOs period is a period that is used to calculate those asymmetric. It is one kind of ema calculation with constrains and I rather like it since it allows values like the ones you can see in that indicator
Have a nice weekend
It's a great indicator. I want to know detailed meanings about this indicator. So please do me a favor
to explain as following.
1,Which line is to match EMAPeriod and how to setup it?
2,HighLowPeriod means? How to setup it?
3,Which line is to match LwmaPeriod and how to setup it?
4,Which line is to match ObOsPeriod and how to setup it?
Thank you very much in advance.
Dear Mr. mladen,
I see. Thank you very much. You are always kind for all of us. Thanks again.
Change candle color based on RSI counting
Sorry to asking you again to design an indicator, I need indicator that can change the colors of Candle stick based on RSI counting. And it would be great if the indicator able to show more colors when its showing on reversal of the trend.
Also it will great if you can add email alert when the indicator change to reversal.
Below I send the screenshot for the image. On the image I guess the colors change of the candle based on Moving Average..But here I need the colors change based on RSI
Thank you very much for your help Master ...
Derivative oscillator with alerts
Derivative oscillator (already multi time frame capable) with added alerts (including push notifications) on zero line crosses
Not sure i understand what is RSI counting, would that be something like oversold or overbought?
Thank you for your time.
Your work is very much appreciated.
Yes, its perhaps like the candles colors change to blue ( bullish ) when leaving 20 on oversold and change to red ( bearish ) when leave the overbought 80 area.
Its possible to do that ?
Thank you very much
Mrkentet try these these will color the candle after leaving oversold or overbought 80 and 20 will be hard to get the candle to color unless you make the RsiPeriod real fast, anyway the overbought and oversold levels are adjustable, and the alerts should happen whenever the candle is colored.
Hi Master mrtools,
Thank you very much for your help on created this indicator for me.
I would gave it a test.
You are the best !!!
Market mode with alerts
Market mode indicator (multi time frame and colored) with alerts too posted at this post : https://www.mql5.com/en/forum/173574/page294