This indicator calculates and plots 2 separate EMAs of the RSI. The default settings below work great on SPX/SPY daily chart. General rule is if an EMA is above 50, the stock's near term outlook is bullish. If an EMA is below 50, the near term outlook is bearish. Personally, I like to use a fast EMA as a buy signal and a slow EMA as a sell signal.
I can't find this indicator on Tradingview.com. What's the name of it listed in Tradingview?
Harsha_Kumar
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I Think You have developed an Indicator That seems to be like a Silver Bullet of Trading . It Works great for Stocks !!! Keep up the Good Work . it's Amazing . Hope I get to Learn from you. Would Like to know you better ! Can we chat ? Please
Stable_Camel
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Thanks. Be careful though. This is really just a simple algorithm and it doesn't work all the time for all assets in every market environment
Harsha_Kumar
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Yes I've back tested it ..... I found that It works Brilliantly for Stocks on 15 min, 1 hour & Daily ..... Simply Superb ! best used for Swing & Positional trading in Stocks & Indices. Forex & Commodities , Not as good , but still it's usable
Harsha_Kumar
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I used Dochian Channel as Filter ..... it works soo good . thank you so much for this great indicator !!
Evgenich
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dont have arrows(
ChaschiPapraniku
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Same failure here
Stable_Camel
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No arrows because that's is from the Strategy Tester. The codes here are for the indicator only