In this section I will introduce to you the indicator I have written and I will help you to write in your texts. Let's start by first describing the colored lines on the chart. The green lines here are the RSI price line, the red lines are the process signal line, the blue lines are the volatility line and the yellow line is the market base line. Here the closing price for RSI and the simple moving average reference are taken. The main purpose of this demonstration is to measure the market's power and volatility, and at the same time determine the direction of the trend. Reading and implementing this indicator is quite simple when compared to other indicators.
Our trend for trend is as follows;
If the green line goes up over the red, the trend is up. If the red line goes above the green line, the trend is down. Of course, it would not be right to buy or sell just looking at it. This gives us an idea just in terms of the direction of the trend.
For the strength and volatility of the market;
It is possible to talk about a weak market if there is a strong, uphill or downward slope of the green line, or if there is no slope. This definition is valid for short periods. For example, you can use this for 5 minutes and 15 minute charts. If the blue line extends for longer periods of time, then the market is strong and trending. If the blue line narrows, then the market is weak and limited.
Processing input conditions;
If you are doing sealping, the green line can be bought over the red line, the red line can be sold over the green line. If the medium term transaction vapMavi
If you are considering buying a green line over the red and yellow line, you can sell it under the red line green and yellow line. If long-term trading takes place, the green line can be sold over the red, yellow and blue line, the red line can be sold over the green, yellow and blue line.
Stop loss conditions;
If the green line drops below your red, if you are on sale then you have to get out of the process if the green line goes above the red.
The most curious question that came up after processing the indicator is how we should read ours. How can I write such an indicator? Let us look at the answer to this question a bit, provided we start with the most bases. To write Indikator, we first need to open the MetaEditor application which is in the MT4 folder.
After we open the program, we can start writing our codes now. First of all, let's start with this example by explaining what the codes we have seen above mean.
Our trend for trend is as follows;
If the green line goes up over the red, the trend is up. If the red line goes above the green line, the trend is down. Of course, it would not be right to buy or sell just looking at it. This gives us an idea just in terms of the direction of the trend.
For the strength and volatility of the market;
It is possible to talk about a weak market if there is a strong, uphill or downward slope of the green line, or if there is no slope. This definition is valid for short periods. For example, you can use this for 5 minutes and 15 minute charts. If the blue line extends for longer periods of time, then the market is strong and trending. If the blue line narrows, then the market is weak and limited.
Processing input conditions;
If you are doing sealping, the green line can be bought over the red line, the red line can be sold over the green line. If the medium term transaction vapMavi
If you are considering buying a green line over the red and yellow line, you can sell it under the red line green and yellow line. If long-term trading takes place, the green line can be sold over the red, yellow and blue line, the red line can be sold over the green, yellow and blue line.
Stop loss conditions;
If the green line drops below your red, if you are on sale then you have to get out of the process if the green line goes above the red.
The most curious question that came up after processing the indicator is how we should read ours. How can I write such an indicator? Let us look at the answer to this question a bit, provided we start with the most bases. To write Indikator, we first need to open the MetaEditor application which is in the MT4 folder.
After we open the program, we can start writing our codes now. First of all, let's start with this example by explaining what the codes we have seen above mean.
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