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Turning Point Z

The Turning-Point Z indicator shows the change in the trend direction. It is calculated based on the moving average for the period and type specified in the parameters.


Parameters

  • MA_Period - the period of the moving average.
  • Type_MA - the type of the moving average:
    1. Simple averaging;
    2. Exponential averaging;
    3. Smoothed averaging;
    4. Linearly weighted averaging.
  • Step - the indicator is calculated based on two points of the moving average; the default first one is the first bar, the second one should be specified.


Operation Principle

  • If the indicator has crossed the zero line upwards, open a Buy deal;
  • If the indicator has crossed the zero line downwards, open a Sell deal;


Tip

It is recommended to open trades in the direction of trend on a higher timeframe.

Maksym Mudrakov
8449
2016.08.31 17:27 
 

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Version 2.0 - 2015.03.26
- Added the possibility to select a method of averaging from a dropdown list.
- Added parameter Max – the maximum number of bars to draw the indicator.