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- 4270
- Rating:
- Published:
- 2018.06.18 10:30
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The indicator shows a cloud within a channel formed by two МАs, EMA and LWMA
It has five input parameters:
- First LWMA period - calculation period of the first LWMA
- Second LWMA period - calculation period of the second LWMA
- First EMA period - calculation period of the first EMA
- Second EMA period - calculation period of the second EMA
- Applied price - price used for calculations
Recommendations:
* Use timeframe H1 or hogher.
Components:
* 5 LWMA and 8 LWMA (blue lines)
* 18 EMA and 28 EMA (red lines)
Inputs:
* EMA lines touch or cross each other.
* LONG: 5 LWMA and 8 LWMA cross the EMA channel upwards.
- If 5 LWMA also crosses 8 LWMA upwards, then the signal is strong.
* SHORT: 5 LWMA and 8 LWMA cross channel EMA downwards.
- If 5 LWMA also crosses 8 LWMA downwards, then the signal is strong.
Outputs:
* LONG: the price has reached the top, and 5 LWMA has gone under 8 LWMA > Close position.
* SHORT: the price has reached the bottom, and 5 LWMA has grown above 8 LWMA > Close position.
Other signals:
* Always close the position, when the EMA lines touch or cross each other, then analyze again and open a new position in accordance with the signals.
Please note! when there is a position and both LWMAs cross the EMA channel, then this is a signal that the EMA lines are going to cross each other in the nearest future.
* Use timeframe H1 or hogher.
Components:
* 5 LWMA and 8 LWMA (blue lines)
* 18 EMA and 28 EMA (red lines)
Inputs:
* EMA lines touch or cross each other.
* LONG: 5 LWMA and 8 LWMA cross the EMA channel upwards.
- If 5 LWMA also crosses 8 LWMA upwards, then the signal is strong.
* SHORT: 5 LWMA and 8 LWMA cross channel EMA downwards.
- If 5 LWMA also crosses 8 LWMA downwards, then the signal is strong.
Outputs:
* LONG: the price has reached the top, and 5 LWMA has gone under 8 LWMA > Close position.
* SHORT: the price has reached the bottom, and 5 LWMA has grown above 8 LWMA > Close position.
Other signals:
* Always close the position, when the EMA lines touch or cross each other, then analyze again and open a new position in accordance with the signals.
Please note! when there is a position and both LWMAs cross the EMA channel, then this is a signal that the EMA lines are going to cross each other in the nearest future.
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/20810
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