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Originally Posted by toxic_jo
I badly need an indicator with the following descriptions:
If the price or a complete bar closes above 14 SMA and an RSI of the Value 45 with a 50 level line is above the 50 level line to give me an up-arrow.
And the opposite for the down-arrow the price or a complete bar closes below the 14 SMA and an RSI of the Value 45 with a level line of 50 below the 50 level line.
It doesn’t matter which one comes first but if Both conditions at any time meet together it gives the right arrow according to the condition whether it is an up-arrow or a down-arrow.
Preferably to work on the 1H chart but great if it works on all time frames.
I would really appreciate the work and the effort of anyone who would program such an indicator for me.
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I modified wma indicator to work according to your system.
Please find attached wma_cross7 indicator.
Default settings are yours.
But I do not think that your system will work for H1 timeframe: too many false signals.
I made the other modification with delta (delta in pips as a distance betwen close price value and indicator's value). Looks better (wma_cross7.1).
You may see the differencies from the images (name of image is name of indicator atached).
I attached the other indicators to the chart just for illustration of your system and those indicators (just for understanding how it works). Basicly you need just indicator with arrow (one of them).
To say a true, the wma_cross7 indicator may be good for scalping but for smaller timeframe then H1 (much more smaller). And it is necessary to find the right settings of course.
wma_cross7.1 indicator is good for normal trading on H1 timeframe for example.