The indicator shows a cloud within a channel formed by two МАs, EMA and LWMA
It has five input parameters:
First LWMA period – calculation period of the first LWMA
Second LWMA period – calculation period of the second LWMA
First EMA period – calculation period of the first EMA
Second EMA period – calculation period of the second EMA
Applied price – price used for calculations
Recommendations: * Use timeframe H1 or hogher. Components: * 5 LWMA and 8 LWMA (blue lines) * 18 EMA and 28 EMA (red lines) Inputs: * EMA lines touch or cross each other. * LONG: 5 LWMA and 8 LWMA cross the EMA channel upwards. – If 5 LWMA also crosses 8 LWMA upwards, then the signal is strong. * SHORT: 5 LWMA and 8 LWMA cross channel EMA downwards. – If 5 LWMA also crosses 8 LWMA downwards, then the signal is strong. Outputs: * LONG: the price has reached the top, and 5 LWMA has gone under 8 LWMA > Close position. * SHORT: the price has reached the bottom, and 5 LWMA has grown above 8 LWMA > Close position.
Other signals: * Always close the position, when the EMA lines touch or cross each other, then analyze again and open a new position in accordance with the signals. Please note! when there is a position and both LWMAs cross the EMA channel, then this is a signal that the EMA lines are going to cross each other in the nearest future.
MetaCOT 2 CFTC ToolBox (Set of Indicators) MT4 -… Contents GENERAL PROVISIONS Brief description Installing the libraries and indicators Several indicators in one window Exporting CFTC reports to CSV…
