HI All,
I have created a simple indicator that "paints" regions on the chart based on ADX and EMA.
Very Simple algorithm:
Chart paints regions only when ADX is above a customizable level. Default is 15.
Region Color Green: ADX Rising; EMA Rising (Potentially Bullish Trending)
Region Color Blue: ADX Falling; EMA Rising (Potentially Reversal)
Region Color Red: ADX Rising; EMA Falling (Potentially Bearish Trending)
Region Color Yellow: ADX Falling; EMA Falling(Potentially Reversal)
You can use this indicator as a means of confluence with other strategies you may have.
I am new to this forum and my first attempt at publishing my program. Hence I am not aware of all caveats that I need to include here. But this is merely an indicator that portrays ADX Value and EMA Value movements. This is not by any means a suggestion to trade !!
Please provide your feedback and suggestions. Would appreciate that.
Thanks
Category The Elite Circle
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