Input or Output
The indicator works on any instrument and timeframe. It works in real time and does not repaint. The calculation algorithm combines Momentum, ROC and RSI. The obtained result is displayed in the indicator window as a percentage price fluctuation. The indicator is easy to use and applied for defining the best entry/exit points. When the line crosses the level 25 upwards and remains bullish, this is a buy signal. It remains relevant till the line reaches the level of 50. The line crossing the level 75 downwards and remaining bearish serves as a sell signal. It also remains relevant till the line reaches the level of 50. After that, we should be ready to close a position till the line reverses. When the line reverses above 75 or below 25, this is a sign of a trend reversal. In order to define a direction more accurately and minimize risks, it is recommended to wait for confirmation (crossing of the lines 25 and 75). The indicator line is not smoothed. It is possible to keep positions open for a short time both during a high volatility and a selected lesser period, i.e. an exit signal appears quickly enough. The levels 25 and 75 are also used to define overbought and oversold states.
- worked_period - period, number of bars for the indicator calculation (2-20). By default, the parameter is set to 10 which is more suitable for minimizing false signals.