The algorithm of the indicator is based on the fact that the price is attracted to the slow moving average
The same applies to a fast moving average that moves around a slow moving average
These moving averages have a special smoothing algorithm.
When the fast Moving average goes up and is below the slow Moving average, we have a potential signal to open a position-Buy entry
When the fast Moving average goes down and is above the slow Moving average, we have a potential signal to open a position-Sell entry
White and blue dots indicate the places of potential exits from the market
If the point is white-this is a recommendation for Buy exit.
If the point is blue-this is a recommendation for Sell exit.
Red diamonds marked potential Stop Loss
Works on all instruments and charts.
You can work with many tools at the same time.
The indicator does not overwrite its signals
Bar-size of the array of bars to calculate the indicator
P-period of fast Moving average
M-period of slow Moving average
If mode = true, potential Stop Loss dots are visible on the chart
If mode = false, potential Stop Loss are not displayed on the chart.
How to set up the indicator?
Run the indicator on the chart
Select from the terminal window: Charts =>Indicators List => Merlin =>Edit
Will appear in the indicator window
After all, create a template: Charts =>Template =>Save Template