Scalping line indicator
October 21, 2015, 9:21 PM
Indicators
3 Comments
Here is another derivated indicator of the stair step moving average exploration. This time the stairstep MA (the main trend) represent the center of the oscillator. The signal line (white line on screenshot attached) is the difference between this center and a simple moving average of 7 periods by default.
Trade signals seems pretty effective on tick charts representation (DAX/GER30 100 or 20 ticks for example). Take long when signal line cross above zero and short below it. Of course, as always objectives and stoploss protection are your responsabilities 🙂
You can play with different parameters to sweet any other instruments.
//parameters :
//percent = 1
//mainperiod = 100
//signalperiod = 7
once ssMA = close
MA = TriangularAverage[mainperiod](close)
if(MA > ssMA + (MA/100)*percent) THEN
ssMA = MA
ELSIF (MA < ssMA - (MA/100)*percent) THEN
ssMA = MA
ELSE
ssMA = ssMA
ENDIF
signalLine = average[signalperiod](close)
linedraw = signalLine - ssMA
RETURN linedraw as "scalp line", 0 as "center line"
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Filename:
scalping-line-20-ticks.png
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Scalping-line.itf
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