Gold closed up 5 points on Monday to end the day at 1234 which is above the 21 day moving average which now sits at 1228.60.
Today I'd like to introduce my new chart layout which now includes a Heikin-Ashi Delta indicator which was originally developed by Mr. Dan Valcu. Based on Heikin-Ashi candles, there are 3 main components to the indicator.
The first and most obvious are the red and blue areas. This represents a 3 day simple moving average on the delta between the opening and closing prices.
The second are the green and magenta dots on the edge of the areas. Dots are green if the moving average is above 0 and today's moving average is above yesterday's. If the moving average is above 0 but not above the previous day's moving average, the dot is magenta.
The opposite is true for magenta dots. If the moving average is below 0 and today's moving average is below yesterday's, the dot is magenta. If the moving average is below 0 but today's moving average is not below yesterday's, the dot is green.
The yellow line represents a double smoothed moving average on the Delta.
Disclaimer: This post is for educational purposes only. Trade at your own risk.
I'm still evolving my strategy using this indicator and will keep everyone posted. F
Today I'd like to introduce my new chart layout which now includes a Heikin-Ashi Delta indicator which was originally developed by Mr. Dan Valcu. Based on Heikin-Ashi candles, there are 3 main components to the indicator.
The first and most obvious are the red and blue areas. This represents a 3 day simple moving average on the delta between the opening and closing prices.
The second are the green and magenta dots on the edge of the areas. Dots are green if the moving average is above 0 and today's moving average is above yesterday's. If the moving average is above 0 but not above the previous day's moving average, the dot is magenta.
The opposite is true for magenta dots. If the moving average is below 0 and today's moving average is below yesterday's, the dot is magenta. If the moving average is below 0 but today's moving average is not below yesterday's, the dot is green.
The yellow line represents a double smoothed moving average on the Delta.
Disclaimer: This post is for educational purposes only. Trade at your own risk.
I'm still evolving my strategy using this indicator and will keep everyone posted. F
