That candlestick on the weekly time frame looks like a signal for a significant move north eventually. On the weekly we have a downward trend and then a Pb. The last weekly candle is higher than the one before. That means that the upward correction is still continuing. Daily is in an upward channel...

Thank you so much. I hope it will be a good tool for all who trade this way... It does exactly what it should - except - maybe - in one position (compare 1 to 2) In 2 the candle closed below channel + below fast MA = so it should also be red. update: on my screen the candle closed below channel, bu...

Forming right now. may be stopped by MA200-channel, though.
First attempt seems to be rejected.
We'll see...

mlawson71 wrote: ↑

Tue Nov 30, 2021 2:10 am

I think the correction we are seeing currently will take the form of a sideways consolidation for now, which is a good indication about how bearish it still is.

Hmmh...
Don't speculate about the future...

Plot channel of high-low and MA of close....originally. A small alteration to your high-low-channel-BT: conditions for candle-colour: If price is above LWMA200-high-low and candle closes above LWMA9: candle colour up (i. e. buy) - colour remains until candle closes below LWMA9 If price is below LWM...

mrtools wrote: ↑

Tue Nov 30, 2021 4:20 am

Added the alerts, that should work depending on the state.

Thanks for using the enUseWhat-function to make it possible to change levels!

mrtools wrote: ↑

Mon Nov 29, 2021 12:20 pm

Interesting - but the signals, hmmh...

Dear MrTools, dear kvak,
do you think it is possible to add alarms when price touches level 3 (optional 2?) in Mladen's indicator?
I would post kvak's new button version of the indie but don't have the mq4-file.

moey_dw wrote: ↑

Sun Nov 28, 2021 10:55 pm

i know u can turn it into something waaaaay better with ur special tweaks!!!

I think it is awesome as is - it will be difficult to enhance it (the only way I can see right now is filtering the indicator line to make the signal more consistent).
Way better than regular MACD inputs.

kvak wrote: ↑

Sun Nov 28, 2021 8:28 am

Excellent indicator (would be even better if we had access to mq4, but there you are)
I like the colouring of the high-low-lines: red for possible sells; green for possible buys (if directional bias is confirming it).
I compared it to an ABP you did a while ago: pretty interesting, I think: