This indicator developed by Alessio Busato allows to identify a positive or a negative acceleration of an exponential moving average. The color will change and will allow you to understand if acceleration is stronger or price is going to reverse or retrace:
- red - strong sell
- orange - sell
- gray - neutral
- green - buy
- lime - strong buy
You only need to choose EMA for which you want indicator to calculate acceleration. Fast one will give you fast signals and slow one the opposite. Default is Ema 21, but you have to set it in according to your strategy.
You can also choose to see the value of difference between one accelerator value and the previous one by switching in options. I hope this indicator will be useful for you! I ll create some signal and strategy for this indicator stay tuned.
P.S. You could notice it looks like Williams accelerator, but it is calculated in a different way!