I have 2 indicators I’d like to put into 1 can you help me?
remember that the more you know how the indicator works, the easier it will be. It could be even better if you could explain exactly how the indicator would work without giving the codes to the other two…
Explain it? Whew! Ok, I’ll give it a try. Let’s assume this is all for an hour chart also this is in a bull trend. I would like to have something that looks like MACD. The up bars are for how Well price moved in a hour. If price went up and held for the whole hour and did not retrace much at all in that bar, then the indicator bar would get bigger or if it was below the 0 line, it would get smaller. Even if it was only 10 pips. If it went up 50 pips and retraced 25 of it, it would be no bigger than the last bar. If it retrace 40 of the 50 pips, the bar would get smaller. Now, the line. Let’s say we are in a up trend to turn down. If we were in an uptrend, the line would have been rising and green once price has leveled off, the line levels off. Ok now, once the price makes a lower high and lower low, on the second or 3rd lower low, it turns red. The close does not matter just how much of a move has been made.
I am sure I have left some stuff out but, that is something for you to chew on. Any questions and I will give it a shot to explaining it. Thank you much gazuz.
That’s not quite what I am looking for. Something more like this. Disregard the chart itself just the indicator on the bottom.
qjosefs7, what are the indicators you want to combine actually? i’m not grabbing your idea well.