Trend Colour Indicator (using two EMAs)
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Thread: Trend Colour Indicator (using two EMAs)

  1. #1

    I made easy indior for trend detection. It is founded on two EMAs, SLOW one and QUICK one.

    Indior discover UPTREND and contains BLUE COLOR if rapid EMA is over slow EMA and the two are raising (real value is greater than previous).

    Indior discover DOWNTREND and contains RED COLOR if rapid EMA is under slow EMA and the two are sinking (real value is smaller than previous).

    In other way is indior GRAY.

    Indior does not repaint past.
    It is my first indior and I place it to this forum to hear some reactions, e.g. which TF a EMA VALUES will be better.

    Thanks for trying.

  2. #2
    Tx Welleard, certain seems great, I'm currently trading having something similar for this, but I leave the comments to those who actually use Metatrader in the present time. I keep a keen eye on this thread

    what ema value's are you currently using?

  3. #3
    Quote Originally Posted by ;
    tx Welleard, sure seems good, I'm currently trading with something similar for this, however I leave the comments to people who really utilize Metatrader at the moment. I will keep a keen eye on this thread

    exactly what ema worth's are you using?

    I believe that this indior isn't enough for trading. My view is that you need at least one more indior, for example RSI oscilator to get rid of wrong signals.

    Values: I'm playing with various values, two extended term emas seems good. Try 72 an 24 on 4H timeframe. It is nice for detection of fashion and than you can trade smaller TF in this direction. It seems pretty nice, I presume.

    What are your favourite periods? Do you have any suggestions to make this indior better?

  4. #4
    I'd like to have RSI14/Stoch5.3.3 to filter trades, but I could hedge in my trading platform and found that only the EMA's work well for me personally. I exchange Daily's and utilize 5/10 ema with price to enter or exit.

  5. #5
    I found problem, indior begins to repaint itself and makes crazy lines. Sorry for that, I am gonna fix it.

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