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.
- MA_Period - the period of the moving average.
- Type_MA - the type of the moving average:
- Simple averaging;
- Exponential averaging;
- Smoothed averaging;
- Linearly weighted averaging.
- 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;
It is recommended to open trades in the direction of trend on a higher timeframe.
- Added parameter Max – the maximum number of bars to draw the indicator.