WillyIndex

Hello Traders

This Indicator FOREX based on Willy Heine's MW4 method for Position Trading and Swing Trading

The FOREX market is cyclical, so if we analyze the historical tops and bottoms, we can have a direction in which the price can return

Timeframes: Monthly, Weekly and Daily

- Inserts Top, Middle and Bottom lines of the last 5 years into the graph (parameter "Years" which by default is 5):
Top-Line: Indicator takes the highest closing price of the period (Ex.: 5 years) and plots a line (red);
Bottom-Line: Indicator takes the lowest closing price of the period (Ex.: 5 years) and plots a line (green);
Middle-Line: Indicator takes the average closing price of the period (Ex.: 5 years) and plots a line (yellow);

Uses:
- BUY: Price below the "Middle" line (the closer to the "Bottom" is the better), carry out analysis (fundamentalist / technical / graphic) looking only for BUY opportunities with a take profit in the middle line
- SELL: Price above the "Middle" line (the closer to the "Top" is the better), carry out analysis (fundamentalist / technical / graphic) looking only for SELL opportunities with a take profit in the middle line

Margin Level Management (Lots proportional to the balance):
- Lot size "0.01" for every $100, ie if you have $1000, you can open trades until you reach a maximum of 10 open trades of lot size "0.01"

Succe$$ everyone

Release Notes:

- Add background color (green: long opportunities only, red: short opportunities only);
Trade Signals (EMA 6 crosses with EMA 21):
- Add Buy Signal and Sell Signal;
- Add Alert Buy Signal and Sell Signal;
- Add Alert Exit Buy Signal and Exit Sell Signal;

Release Notes:

Fix alert conditions:
- Alert Buy Exit
- Alert Sell Exit