It is an indicator that combine trend following indicator together with momentum indicator hence yielding a better guide for trader to make decision of buying, holding, reentry and selling shares. However, do takes note the indicator can still yield fake signal depending on the market sentiments, business environment situation etc. Hence trader must ensure proper trading plan is prepared before hand prior to make any investment judgement in the market. Author shall not hold any liability from using this indicator whatsoever, as the sole purpose of this indicator is for Author's own training and analysis only. However constructive feedback and improvement suggestions are greatly appreciated
Thank you akmy
Standard Operating Procedures (SOP) of how to use the indicator
BUY SOP 1. Monitor ticker when the Orange line concentrated/converged - indicating expecting sudden upward or downward price movement in near future 2. When green triangle appear, wait till the candle close without green triangle 3. The candle without green triangle must close higher than the previous day candle with green triangle 4. BUY next day when market open
SELL SOP 1. Monitor ticker when the Fuchsia triangle appear - indicating the price movement is overstretched and waiting to pullback 2. When the Fuchsia triangle disappear, the close price candle without Fuchsia triangle must be lower than the close price of candle with Fuchsia triangle 3. Hold the shares when the candle yet to close below top Fuchsia line 4. When the subsequent candle close below the top Fuchsia line, SELL the share the next day when market open
Reentry SOP 1. Follow BUY SOP without orange line concentrating 2. Majority of lines are still pointing upwards
Nota Keluaran
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Update formula to smoothen up the Long Term Line and replaced the nomenclature of each line
Hello! Can you elaborate a bit on the abbreviations of the colors? I am liking this indicator a lot, however, the abbreviations in the Settings box have left me curious what the meaning is of each. Also, there are 3 "purple" lines and 1 green, but on the bottom the 4 are all grey. Is the 4th indicator line from the bottom the same measure as the green for the upper lines? I am trying to map out what each line indicates and re-color it to match my chart. Thanks for this! I bet it was a lot of work... it's appreciated by at least this guy! Cheers
Cheers