This indicator is created for novice and advanced traders.
Crossbow is an advanced generation of Moving Averages.
The indicator uses two lines: the first one is the third generation (3dg) of Moving Average, the second one is simple moving average (SMA).
PRICE_CLOSE, 1 — PRICE_OPEN, 2 — PRICE_HIGH, 3 — PRICE_LOW, 4 — PRICE_MEDIAN, 5 — PRICE_TYPICAL, 6 — PRICE_WEIGHTED.
Method of work
SMA is delayed in comparison to 3dg, the junctions are considered signals for enter or exit a positions.
Analyzing the bends, which clearly reflect the general trend. Entry position: when 3dg is crossing the SMA.
Increased spacing between the lines gives a clearer idea of the strength of the trend.
- MA_Period (default = 50) — period of the Crossbow moving average.
- MA_Method (default = 1) — method of the moving average.
- MA_Applied_Price (default =10) — applied price for the moving average.