Mirrored MACD [LazyBear]

This is a famous indicator I have seen used by many Forex traders in MT4 platform. This indicator uses the difference between EMA of "close" and EMA of "open" to form the oscillator lines (not just a convergence/divergence calculation between EMA of "close")

Current market state is determined by which histogram is above zero line. For more confirmation, wait for it to cross above Signal line too. Crossing down the signal or zeroline should be the exit condition. Also, look for divergences.

Use plot labels BullHisto/BearHisto/BearLine/BullLine/ZeroLine/Signal for setting up alerts.

Complete list of my indicators:
즐겨찾기 스크립트에서 빼기 즐겨찾기 스크립트에 넣기
// @author lazybear 
// list of all my indicators: 
study("Mirrored MACD [LazyBear]", shorttitle="MIRRMACD_LB")
length=input(20), siglength=input(9)
colorBars=input(false, title="Color bars?")
ma(s,l) => ema(s,l)
mao=ma(open, length), mac =ma(close, length)
mc=mac-mao, mo=mao-mac, signal=sma(mc, siglength)
plot(0, title="ZeroLine", color=gray)

plot(mc, color=green, linewidth=2, style=histogram,title="BullHisto")
plot(mo, color=red, linewidth=2, style=histogram,title="BearHisto")
plot(mo, color=red, linewidth=2,title="BearLine")
plot(mc, color=green, linewidth=2,title="BullLine")
plot(signal, color=blue, linewidth=2,title="Signal")

us=max(mc,mo), bc=us>=signal?(us==mc?lime:maroon):na
List of my free indicators:
List of my indicators at Appstore:
I like this indicator very much. In initial testing it has great potential. Thanks for sharing this indicator with us.
Hey lazybear, I am not really understanding how to use this indicator. If you could provide a bit more detail on how to enter and exit that would be really helpful. Thanks for sharing as always. I really like your posts. Keep up the good work!!
LazyBear moneymaking
The histo color above zeroline determines the state. For entry/exit, The signal line should give you entry/exit as well as a long term view.
+3 응답
moneymaking LazyBear
Thank you for the clarification!!
I noticed the Elder Impulse System is not on your indicator list.
I've been testing with this and was wondering if you have abandoned the indicator
or are still fine tuning any problems you've uncovered.
Thanks so much Lazy Bear !!!!
Wishing you lots of pips in your pocket for 2015 ~~~~~~
dojitrader LazyBear
Geez !!!!
The sharp eyes of a trader ~~~~~
I didn't think to scroll down . . .
Thanks so much !!!!!!!!!!!!!!!!!!
LazyBear grahvity
Thanks @grahvity
Nice. If I make some adjustments to your code, what would you like me to do with it? Send to you or post it? Thanx
홈으로 스탁 스크리너 포렉스 스크리너 크립토 스크리너 이코노믹 캘린더 사용안내 차트 특징 프라이싱 프렌드 리퍼하기 하우스룰(내부규정) 헬프 센터 웹사이트 & 브로커 솔루션 위젯 차팅 솔루션 라이트웨이트 차팅 라이브러리 블로그 & 뉴스 트위터
프로화일 프로화일설정 계정 및 빌링 프렌드 리퍼하기 나의 서포트 티켓 헬프 센터 공개아이디어 팔로어 팔로잉 비밀메시지 채팅 로그아웃