The FMA Signal indicator uses a combination of moving averages to generate long and short signals. The color of the is designed to filter out the noise in the market. Basically, the moving average does only switch colors where the market is about to shift. This means that small pullbacks in trends will not affect the color of the moving average. The FMA Signal indicator has a trend filter which can be turned on to see the trends clearly.
The colors of the FMA signal indicator can be interpreted as follows:
· In a positive trend, orange signals should be considered as Long.
Buyers are exhausted
· When the Buyers are becoming exhausted, the orange signals should be considered as Short.
· In a negative trend, blue signals should be considered Short.
Sellers are exhausted
· When the Sellers are becoming exhausted, the blue signals should be considered as Long.
HOW TO USE
1. When a signal appears, consider Enter the market
Be aware of how the signals should be interpreted (see the description above and the charts below).
2. Let the color of the moving average guide your decision.
3. Switch on the trend filter to detect trends or to stay in a trend.
INDICATOR IN ACTION
Pay attention to the color of the moving average!
With trend filter
I hope you find this indicator useful, and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continue to work on this indicator, so please share your experience and feedback with me so that I can continuously improve it. Thanks to everyone that have contacted me regarding my scripts. Your feedback is valuable for future developments!
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/ideas are only for educational purposes!
- FMA - Levels are added. --> These can be used to confirm the FMA Signal
- Change Signals are added. --> These can be used to confirm the FMA Signal
- Positive and Negative Change / Impulse signals are now added. --> These can be used to confirm the FMA Signal
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