The algorithm of the indicator is based on the fact that the price is attracted to a slow moving average
The same applies to the fast moving average, which moves around the slow moving average
These moving averages have a special smoothing algorithm.
- When the fast Moving average goes up and the slow Moving average is below, we have a potential signal to open a position – Buy entry
- When the fast Moving average goes down and the slow Moving average is above, we have a potential signal to open a position – Sell entry
Red diamonds mark potential stop losses
- When the fast Moving average goes up and the slow Moving average is below, we have a potential signal to open a position – Buy entry
- When the fast Moving average goes down and the slow Moving average is above, we have a potential signal to open a position – Sell entry
Works on all instruments and charts.
You can work with many tools at the same time.
The indicator does not overwrite its signals
You can work with many tools at the same time.
The indicator does not overwrite its signals
The indicator does not overwrite its signals
Settings
[spoiler title=”Read More…”]
Bar – the size of the array of bars to calculate the indicator
P – period of fast Moving average
M is the period of the slow Moving average
mode – mode parameters
If mode = potential stop losses are more visible on the chart
If mode = false, potential stop losses are not displayed on the chart.
How to set up the indicator?
Run the indicator on the chart
Select from the terminal window: Charts =>Indicators List =>> Merlin =>>>Edit
The indicator window will appear
Configure the parameters
After that, create a template: Charts =>Template =>>Save Template
[/spoiler]