This is a indicator based on the MACD and the distance between the current price and the Exponential moving Average . The signal gets triggered if the current MACD (with default settings) is under 0 and the Distance from the Ema gets smaller if under ema or gets bigger if over ema . In edition you can set a max distance from the ema .
This indicator was invented for buy and hold strategys only. I invented this indicator to find better entrys for my saving plans on the MSCI WORLD AND MSCI EMERGING MARKETS ETF on the 1 day timeframe. Instead of investing every month, i only invest on the green Arrow Signal.
For example, lets say there is no buy signal for 3 months, then i invest the summary of the three months on the buy signal.