there is no difference with all the other oscillators; it works in a trending market but in a sideways market it stops working (left part of the chart)
mortdiggiddy
⋅
@mrenders, I see a big difference. You could wait for the major trend to be > certain level, then use the minor trend to buy pullbacks.
mrenders
⋅
@mortdiggiddy, there are thousands of indicators but in the end it always comes down to the same point: is the market trending or not in a specific time frame and which indicator should I use accordingly. The problem with any indicator, however sophisticated it may look, is that it represents past data and so is lagging by definition. After searching for the holy grail indicator for years, I now just stick to one (RSI).
@mrenders, Or, you could wait for a cross up on the maShortTermXtrender plot, and then take scalps while it is increasing. This is denoted by green circle. If used on a higher time frame, you could wait for this to happen then take all long entries on a lower time frame while it is still green. Just one idea.
@mrenders no there is not. But you will realize that sooner or later that every oscillator is more or less very similar. Some react faster some ale giving up the information for better entry for more risk. It's up to you to find the ones you like.
sendk
⋅
@QuantTherapy, this indicator is better because of giving a visually appealing overlay of context (long term) along with short term signals . moe power to you.
As with any indicator it needs practise to match with the market and instrument .
xphu2000518
⋅
@QuantTherapy, Thank you for the wonderful indicator. What is the other indicator showed on your candle chart? Looks like it is even longer term indicator which changes its color per trend. Thank you!
FIGHTWITHNIFTY
⋅
@mrenders, sideways market identity very easily then why you this for sideways market