If single line = red then overall trend =
If single line = green then overall trend =
If dual line = red then temporary trend =
If dual line = green then temporary trend =
If day trading use smaller scales or dual line readings.
If longer hold use larger scales or single line readings.
DISCLAIMER: By using this indicator you understand that trading is inherently risky. Proper technical trading requires a lot of experience as well as tools. Branch 22 Capital takes no responsibility for any trades made using this indicator. This indicator was created for research purposes only.
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//Created by Branch22Capital at www.branch22.com , enjoy :) study("Snap Indicator") fast = 4, slow = 20 fastMA = ema(close, fast) slowMA = ema(close, slow) signal1 = fastMA - slowMA signal2 = wma(signal1, 9) snap = slowMA - fastMA a = signal1 >= signal2 ? green : red b = snap <= signal1 ? green : red plot (signal1, color = a) plot (signal2, color = a) plot (snap, color = b) plot (0, color = black)