the fashion Detect index combines the features of both trend indicators and oscillators.
The index is a convenient tool for identifying brief-term economy cycles and determining the overbought or oversold levels of the market.
A long place can be started when the index starts to leave the oversold zone and breaks throughout the zero level from the underside up.
A short position can be opened when the index starts to leave the overbought zone and breaks through the zero level from top to bottom.
to leave the position, you can use the opposite signal of the indicator.
In this case, you should use a small stop loss, as the indicator may suddenly change color and direction.
The “Inputs” tab of the indicator allows you to select the indicator period, as well as one of the four moving averages (Simple, Exponential, Smoothed, Linear weighted).
The “Parameters” tab of the indicator allows you to select one of the seven types of the applied price (Close, Open, High, Low, Median, Typical, Weighted).
The “Colors” tab of the indicator allows you to select the color, thickness, and style of the indicator line.
- Period – the number of bars used to calculate the indicator;
- Method-select from four moving averages;
- Apply to-choose from seven types of applied price.