This indicator provides both long and short signals as well as color coding market direction bias.
There are 3 variables for this indicator are smoothed with some calculations EMAs with a signals.
Defaults are short length (21), long length (11), signal length (11) and represent the best middle of the road numbers I've found that work across all markets.
- Upward triangle with L represents Long signal.
- Downward triangle with S represents Short signal
- Green background represents bull bias
- Red background represents bear bias