The RBCI hist indicator is an adaptive trend histogram, that eliminates noise using a Low-pass filter, which passes the lower frequencies and cuts off hight frequencies of the price fluctuations.
The signal (depending on the strategy chosen by trader) is the intersection of the zero line by the indicator, as well as the change in the histogram color. The change in the histogram color serves as an early signal for opening positions towards the trend. The position of the indicator relative to the zero level shows the strength of the current trend. Availability of an information window, that displays the information on the indicator on other time frames, is a good addition during the option trading or trading by scalping. The first line informs about the current trend, the second - about its strength.
- ShowBars = 300 - Depth of history for the indicator display on the chart;
- ShowInfoPanel = YES - display the information panel;
- textColor - period color of the information window;
- DnColor - color of the downtrend signal of the indicator;
- UpColor - color of the uptrend signal of the indicator;
- FletColor - color of the uptrend and downtrend equality signal of the indicator;
- use_M1-use_MN1 = YES - display information on the current time frame;