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MAMA osc AM

This indicator is modification of the classic MACD oscillator based on the MAMA indicator - a system of moving averages with highly effective smoothing algorithm. Usage:

  • When the price exceeds the High of the bar where the indicator has a value greater than zero, if the indicator value on the previous bar is less than zero, a buy signal is formed.
  • When the price exceeds the Low of the bar where the indicator has a value less than zero, if the indicator value on the previous bar is greater than zero, a sell signal is formed.
  • When the price exceeds the Low of the bar where the indicator has a value greater than zero, but is less than its value on the previous bar, a signal to close buy is formed.
  • When the price exceeds the High of the bar where the indicator has a value less than zero, but is greater than its value on the previous bar, a signal to close sell is formed.


Adjustable Parameters

  • FastLimit - smoothing parameter of the fast moving average.
  • SlowLimit - smoothing parameter of the slow moving average.
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Version 2.0 - 2017.11.29
Fixed plotting.