The MACD indicator is very useful when thinking of it in terms of momentum and trend and not as a holy grail.
There are many settings that can be used and I prefer to use the settings that reflect the 3/10 oscillator (Raschke).
While you can simply input the numbers 3,10,16 into your standard MACD, the proper 3/10 uses simple averages.
The Relative Strength Index (RSI) is an extremely useful oscillating momentum indicator that was developed by J. Welles Wilder and is one of the most widely used indicators in technical analysis.
HOW IS IT USED ?
In the classic view, a security is thought to be overbought when its RSI reading is above 70 and oversold when its RSI reading falls below 30. This...
I personalized a double stochastic oscillator.
HOW IS IT USED ?
Everyone should adapt the parameters to its way of trading.
First you must have a confirmation of the trend.
In positive trend, a double stochastic > 20 can be used t enter long.
In negative trend, a double stochastic < 80 can be used t enter long.
Of course this is only one possibility that everyone...
A port of the MT4 indicator of Mladen Rakic found at www.mql5.com
which is based on Dynamic Zones that was originally published in Stocks & Commodities 1996 issue.
Dynamic Zones is meant to be applied to oscillators to get dynamic overbought and oversold levels
quantified using statistical methods.
RSI based currency strength indicator. Other indicators only give 7 currencies, leaving NZD. This one is an updated version which gives all 8 major currencies.
Great tool to find market tops, bottoms, S/R's and reversals.
Rsi has 2 customiseble overbought and oversold levels can show you extreme levels.
Slow Stochastic 1 (25 period) shows small price swings
Slow stochastic 2 (100 period) can show you a greater picture, are we reversing?
Why do you need Leguerre, Murrey, Kaufman oscilator 3000 when you can have old and...
This script has been based on ProwdClown's instructions of usage.
GM settings 9, 6, 3 should be used, LSMA 25, 0 has been implemented.
Original author for main script: LazyBear, xSilas and Ni6HTH4wK, modified By sco77m4r7in and oh92, later modified By scilentor.
Version 2 added support for MTF, to see the trend direction on the lower or higher timeframe.
As an example to see the difference, the indicator is added three times, one time for the current TF, one set at the higher and one at the lower TF.
Cudo's to Chris Moody for the MTF-switching-code!!
JD.
Indicator for Short & Long Entries based on:
- Volume
- Close Price
- Ema
- RSI
Feel free to test it out. The parameters are:
- Back Bars Long.- number of bars back to consider for long entries
- Back Bars Short.- number of bars back to consider for long entries
These are used to calculate the ema and rsi.
