MA Trend Buy Sell Indicator
This is a BUY/SELL indicator with voice alert based on a user defined moving average used as trend line which works in all timeframes and all currencies. Signals are generated by the price entering in a user defined moving average upper or lower price range band and closing after that above or below the upper or lower price band. Indicator also works without a price range band, signals being generated in this case by price closing or having the High or the Low above or below the moving average and closing after that in opposite direction (below or above the moving average).
The moving average used as a trend line is drawn based on the values entered by the user as input parameters. Simple, Exponential, Smoothed and Linear weighted moving averages are supported by the indicator.
Moving average's price range bands are drawn automatically based on the input setting value selected by the user (0 - NO Price Range band, 1 - ATR, 2 - Percent or 3 - Points).
The BUY signal is triggered when the previous bar has the Low or the Close in the upper price range band or below the moving average if the price band is not used and the current bar closes above the upper limit of the upper price range band or above the moving average if price band is not used. The SELL signal is triggered when the previous bar has the High or the Close in the lower price range band or above the moving average if the price band is not used and the current bar closes below the lower limit of the lower price range band or below the moving average if price band is not used.
Recommendations on usage
The strategy to use the indicator is simple, add the indicator on the chart, set the desired values for the moving average to use and for the upper and lower price range bands and open a BUY order when the buy signal is triggered displaying the up arrow on the chart and open a SELL order when the sell signal is triggered displaying the down arrow on the chart.
It is not recommended to use this indicator alone... You should combine it with other indicators, candlestick patterns, support/resistance lines, etc in order to make your Buy or Sell decision.
Main settings - Trend Lines' Names
- No of periods for MA - default = 36
- MA method for the MA - default = MODE_EMA
- Applied price for the MA - default = PRICE_CLOSE
Trend Line price range band settings
- Price Range Band Setting - NO Price Range Band, ATR Price Range Band, Percent Price Range Band, Points NO Price Range Band - (ATR band, period=14) - default = ATR Price Range Band
- Percent to use for price band setting = 2 - default = 0.1%
- No of points to use for price band setting = 3 - default = 50
- Enable voice alert when signal is triggered - default = true