Key components of the original indicator:
● The Moving Average Convergence Divergence ( ) is calculated by subtracting a long period (26) ( ) from a short (12) period .
● triggers technical signals when it crosses above (to buy) or below (to sell) its signal line.
● The speed of crossovers is also taken as a signal of a market is overbought or oversold.
● helps traders to understand whether the or movement in the price is strengthening or weakening.
It is a that follows the trend and shows the relationship between two moving averages of the price of a security. It can function as a trigger for buy and sell signals, when you cross above (to buy) or below (to sell) your signal line. It helps to understand if the movement is or , if it is getting stronger or weaker. The further the is above or below its baseline, it indicates that the distance between the two EMAs will be growing, often shown with a histogram that graphically represents the distance between the and its signal line, and It is used to identify when the or momentum.
Main functions of this modified indicator:
1) You can select the type of MOVING AVERAGE, among many available options ( , , , , etc.)
2) The SOURCES for the counts can be determined by the trader (close, open, etc).
3) The MEASURE can be based on a CANDLES count if you are trading OHLC Charts from 1D onwards, or if your trading is intraday, you can also select counts by MINUTES, HOURS or DAYS, depending on your trading style.
4) LENGTH, by default it will be loaded as in the STRATEGY, but considering the previous point, you can modify it according to your convenience.
5) You have the option to hide or show the HISTOGRAM or even the if you want to see one of them.
6) You have the option to hide or show a LABEL at the top of the chart, with respect to the signals: green, red.
Main performance functions of this modified indicator:
I) In the case of the PERFORMANCE that appears at the right of the chart, you have the option to adjust the WIDTH of each box.
II) The TEXT of the PERFORMANCE is not modifiable, but you can customize the default color. *
III) The BACKGROUND of the PERFORMANCE, you can customize the default color. *
IV) You have the option to hide or show a PERFORMANCE that appears at the right of the chart.
Main functions to customize the style of this indicator:
a) You can select the colors for the FAST LENGTH, SLOW LENGTH AND HISTOGRAM with the colors that best suit you. * **
b) For any type of SIGNAL, it is painted as a VERTICAL LINE in the graph, you can change the color that comes by default. *
c) In the case of the LABELS that appear at the top, the text is not modifiable, but you can customize both the type of label and change the default color. *
d) You can select the colors for the BACKGROUND of the indicator according to the trend, whether it is or , with the colors that best suit you. *
e) You can select the color for the ZERO LEVEL, with the colors that best suit you.
* By default, they are marked as red for downtrends and green for uptrends.
** By default, they are marked as orange for downtrends and blue for uptrends.
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