Indicators: Indicator Arrows II
Hi there
I've been trying to use the indicator provided in this post for my purposed outlined below, however, I'm unable to get accurate signals. Need to understand this further so I can refine the inputs appropriately. Can the author (or someone else) clarify what "triggers" or "rules" have been used in this indicator to generate a Buy or Sell for the Moving Average and the Stochastic Oscillator i.e. Buy when Price closes above the moving average? Buy when %k line closes above %D line, while both starting values were below 20?
My purpose: I've been looking for an indicator which marks Buy or Sell arrows on the 15 min price chart when the two conditions are met:
Buy Arrow (on 15 min chart) when:
1. On 1 hour chart - Closing Price above the 20 period simple moving average; and
2. On 15 min chart - Stochastic Oscillator - %K line and %D line are both below 20, and the %K line breaks above the %D line
Sell Arrow (on 15 min chart) when
1. On 1 hour chart - Closing Price is below the 20 period simple moving average; and
2. On 15 min chart - Stochastic Oscillator - %K line and %D line are both above 80, and the %K line breaks below the %D line
Stochastic Oscillator settings are 14,5,5
I have a feeling this indicator will help me achieve my purpose - with some help from you guys :)
Many thanks for your help.
Regards
It gives false alert.
This indicator is incredible. Thank you very much!!!
But it has a problem.
Arrows appear delay! When i refresh charts, many arrows appear I didn't see at the time.
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Indicator Arrows II:
The indicator plots up/down buffer arrows in the chart window when conditions are met on one or two of the following indicators:
Author: pipPod