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Trend Buy Double EMA2 MACDh

Description

This indicator uses two Exponential Moving Averages and MACD for Medium and Long period screens in order to arbitrate for uptrending indication. For each screen, it suggests Buy Position when MACD Histogram is ascending and the EMA Fast curve is above the EMA Slow curve. It indicates also when both screens are uptrending. It can be used, for example, in association with Elder's Triple Screen strategy for buy positioning.

In the same chart window, the indicator marks in blue the medium screen uptrend, in yellow the long screen uptrend, and in green when both medium screen and long screen are uptrend.


Indications conditions

  • Medium Uptrend (Blue)
    • Medium EMA Fast [current] > EMA Slow [current]
    • Medium MACD Histogram [current] > MACD Histogram [previous]
  • Long Uptrend (Yellow)
    • Long EMA Fast [current] > EMA Slow [current]
    • Long MACD Histogram [current] > MACD Histogram [previous]

  • Resulting Uptrend (Green):
    • Medium EMA Fast [current] > EMA Slow [current]
    • Medium MACD Histogram [current] > MACD Histogram [previous]
    • Long EMA Fast [current] > EMA Slow [current]
    • Long MACD Histogram [current] > MACD Histogram [previous]


Parameters

  • EMA_FAST_PERIOD: Period of the EMA Fast
  • EMA_SLOW_PERIOD: Period of the EMA Slow
  • MACD_FAST_PERIOD: Fast Period of the MACD
  • MACD_SLOW_PERIOD: Slow Period of the MACD
  • MACD_SIGN_PERIOD: Signal Period of the MACD
  • FACTOR_MED_LONG: Multiplication time factor between Medium and Long screen
  • SHOW_TREND_LONG: Show Long Screen curve
  • SHOW_TREND_MEDIUM: Show Medium Screen curve
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