Thanks for sharing and updating this old gem Mrtools
For those wondering what the "Impulse System" is, it's a simple trading system by Alexander Elder himself which consists of the MACD and the 13 period EMA.
Many traders including LazyBear from Tradingview also incorporate a 65 period EMA to show the prevailing trend.
The rules of the system are:
- Trade short (Sell) when the 13-period EMA falling
MACD(12,26,9) histogram falling - Trade long (Buy) 13-period EMA rising
MACD(12,26,9) histogram rising
Below is the Impulse System for MT4 with which includes the 65 EMA & 13 EMA (in Moving Average Ribbon form) as well as the WIS MACD by Vladimir Gospodinov which was purposely designed for this system.
A PDF has also been attached which includes information on Elder's systems.
PS: Thanks to Mrtools's MTF + Interpolation this system works very well on the 1 Hour charts using 4 Hour MTF
