Dear Pacois,
Thank you for the indicator.
In testing it, I see that for the middle Average (the 20MA), for exponential, the implementation is wrong. For simple and linear weighted it is correct.
I do not know if the logic I have described can indeed be implemented, I will try again to describe my proposed logic with reference to the attached screen capture.
My proposed crossover to watch is the crossover of the 2 minor MAs, provided that the long-term (3rd MA) supports the crossover.
Minor Average (1st): 5MA
Middle Average (2nd): 20MA
Senior Average (3rd): 100MA
Arrow 1 - direction up: This was generated by the indicator, however it does not support the logic proposed. This is a crossover of the middle and the senior average. What we are looking for are crossovers of the minor and the middle average.
Arrow 2 - direction down: This was generated by the indicator, however it does not support the logic proposed. This is a crossover of the middle and the senior average.
Arrow 3 - direction down: This is drawn by me. This is the crossover for the suggested logic, it is between the minor average and the middle average and it is supported by the senior average because minor < middle < senior.
Arrow 4 - direction up: This is drawn by me. Although this is a crossover between the minor average and the middle average, it is not supported by the senior average because although minor > middle, the senior average is greater than both whereas it should less than both for the arrow and alert to happen.
Arrow 5 - direction down: This is drawn by me. This is the crossover for the suggested logic, it is between the minor average and the middle average and it is supported by the senior average because minor < middle < senior. However, since the alert at arrow 3 is already in effect and no breach of the senior average has occurred in the meantime, the arrow should not be shown.
Arrow 6 - direction up: This is generated by the indicator. This is a crossover of the middle and the senior average. What we are looking for are crossovers of the minor and the middle average. Although there is a crossover of the minor and the middle average , this is the minor crossing the middle from above going below and the senior is below them, so it should be disregarded,
In fact at arrow 6 it is the first crossover of the middle average and the senior average in the opposite direction of the valid signal at arrow 3 so it should serve as a Take Profit / Exit signal. Could this additionally be coded into the indicator?
I hope the suggested logic makes sense Pacois, thank you for your time and effort.
pacois wrote: Sat Apr 04, 2020 8:51 am
Try!!