this index displays renko bars on the graph, displays and computes Moving Averages, Parabolic SAR, OsMA indicators according to their data, and highlights buy/sell signals.
Renko is a technical display of the purchase cost movement, in the pub of the time period is displayed on the chart only if the price has passed more than a specified variety of factors. Renko bars aren’t tied to a time period, so the index can work with the exact same efficacy on any timeframe.
- A buy signal is formed when the OsMA indicator crosses the zero line from the base up, the next renko bar closes above the moving average, and the PSAR is below the price;
- A buy signal is formed when the OsMA indicator crosses the zero line from top to bottom, the next renko bar closes below the moving average, and the PSAR is above the price;
The signals are displayed on the chart in the form of arrows in the corresponding direction, as a message in a pop-up window, to an email, or to a mobile device. The indicator also generates a custom EventChartCustom event to use the signal in trade automation. The event generated by the indicator can be processed by the Expert Advisor in the OnChartEvent function. The indicator passes the following parameters to the event handler: id-ID; dparam-the PSAR value for setting a stop loss; sparam-a text message.
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- RenkoBar – the size of the renko bar in points (automatically recalculated for five-digit quotes);
- CountBars – the number of renko bars displayed on the chart;
- bearColor-the color of the bearish renko bar;
- bullColor – the color of the bullish renko bar;
- hideBars-indicates whether to hide the display of regular bars on the chart;
- OsMA_Fast, OsMA_Slow, OsMA_Signal – OsMA parameters of the same name;
- OsMA_Color – color of the OsMA indicator;
- MA_Period – the period of the moving average;
- MA_Color – color of the moving average;
- SAR_Step, SAR_Max – the same parameters of the PSAR indicator;
- SAR_Color – color of the PSAR points on the graph;
- SignalBuyColor – the color of the signal arrows for the purchase;
- SignalSellColor – color of the signal arrows for sale;
- UseAlert-notifications in the pop-up window;
- useMail notifications by e-mail;
- useNotification-notifications to your mobile device;
- CustomEventBuy-ID of the custom purchase event (0 – ban).);
- CustomEventSell-ID of the custom event for sale (0 – ban).);
- CustomEventStopLoss-ID of the user event for moving the Stop Loss-sends the PSAR value to the terminal (0-prohibition).