This indicator can act as a scalper on lower timeframes e.g. 30M - 4H but also does a pretty decent job as filter to determine strong trending movements on higher timeframes like 1D.
Example code can be found at https://www.prorealcode.com/prorealtime-indicators/waddah-attar-explosion/.
The colored histogram visualizes the strength of the trend (green = , red = ).
A buy/sell signal is triggered when the (green/red) histogram bars rise above the explosion line.
An exit signal is triggered if the bar falls below the explosion line.
Traders can easily use the reversal signal to trigger alerts from:
- Enter Long
- Enter Short
- Exit Long
- Exit Short
- Maintain Long
- Maintain Short
Alert condition example: "Enter Long" - "Greater Than" - "0"
16 different Moving Averages are available for calculation of both and BB components: