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Swiss Holy Grail Indicator
Motivation and functioning
The HolyGrail indicator serves to optimize an entry.
At that very moment I caught myself, that I went short in an uptrend, so I got into a trade in an anti-cyclical way. Or I have entered into a much too mature trend. This indicator should prevent such errors: One should always be aware of whether it is pro- or anticyclic entry, and one must always know about the maturity of the trend. Don't enter an old trend. Linda Raschke advises to buy the first pullback on the EMA20 (the ADX should be> 30).
The indicator fills the gap between EMA20 and 20. If a green snake shows up, the first pullback into the queue should be used as an entry point. EMA20 is the bottom line of the snake. In the short case exactly the opposite. There, the first rebound is traded on the red snake.
Entrances in combination with the Stochastic Indicator are the best way to succeed (Fig. 1).
The indicator starts at midnight, only the current day is displayed. When the market is closed useBarsSinceMidnigt must be set to false.
The indicator works at all timeframes. If it is used for the purpose of entry optimization then use rather short time units (M1 - M5)
fast ema period => fast period (10)
slow ema period => slow Period (20)
useBarsSinceMidnight => Start at midnight
inpBarsBack => If use BarsSinceMidnight is false, specify desired columns to include into the calculation and display