HIQImpulse

HIQImpulse applies Alexander Elder's Impulse System to every candle on the chart, so trend and momentum can be read together at a glance.

How it works

The Impulse System combines two readings on each candle:

• Trend: a 13-period exponential moving average of the close. It is rising when it is higher than on the previous candle, and falling when it is lower.
• Momentum: the MACD histogram (MACD main line minus its signal line, 12/26/9). It is rising when it is higher than on the previous candle, and falling when it is lower.

When both rise, the candle is bullish. When both fall, it is bearish. In every other case it is neutral.

By default, the full Elder rule is used: a rising histogram counts only if the previous histogram value was at or below zero, and a falling histogram counts only if it was at or above zero. This refinement can be turned off to use the slopes alone.

Reading the chart

HIQImpulse draws one marker per candle in the main chart window. The candle colors of your chart are not changed.

• Green marker below the candle: bullish impulse.
• Red marker above the candle: bearish impulse.
• Lilac marker at the middle of the candle: neutral.

Closed candles never change. The current candle is recalculated on every tick, so its marker can change until the candle closes. The first candles of the loaded history can stay neutral while the moving average and the MACD warm up.

Inputs

Indicator Settings

• Price EMA Period (default 13)
• MACD Fast EMA (default 12)
• MACD Slow EMA (default 26)
• MACD Signal Smoothing (default 9)
• Require Histogram Past Zero (full Elder Impulse System) (default true)

Appearance

• Neutral Color
• Bullish Color
• Bearish Color

Notes

• Works on any symbol and timeframe.
• It only describes the market. It sends no alerts, places no orders and makes no network connections.
• It uses the standard MetaTrader 5 moving average and MACD, so its values match the built-in indicators with the same settings.
• The indicator does not predict future prices. Use it as one input in your own analysis.