BoB Trigger AM

The presented indicator is a development of the ideas contained in the Bulls or Bears AM indicator.

This indicator displays the difference between the maximum and minimum prices for the current period of time and the values ​​of the channel built using the maximum and minimum prices for a longer period.

An increase in indicator values ​​above zero indicates that the maximum price for the current period is greater than the average value of the maximum prices for the period selected as an indicator parameter.

This situation in most cases indicates an increase in the value of the asset. And vice versa.

Unlike the Bulls or Bears AM indicator, the proposed indicator simultaneously analyzes the divergence of the current price from two price channels: fast and slow, and in addition to displaying points where the price goes beyond the price channels, it displays points of maximum price impulse, which with great confidence indicate the beginning of movement prices in the direction of the impulse.

To enter the market, you should wait for the first bar at which the indicator value is greater or less than zero, and set a pending order to overcome the high or low of such a bar.

On fully formed bars the indicator is not redrawn.

Customizable parameters:

• i_Period_Slow - smoothing period for a slow price channel;
• i_Method_Slow - smoothing method for a slow price channel;
• i_Shift_Slow - shift of the slow price channel;
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• i_Period_Fast - smoothing period for a fast price channel;
• i_Method_Fast - smoothing method for fast price channel;
• i_Shift_Fast - shift of the fast price channel.