Using a new type of lag reducing moving average algorithm, this indicator adapts it's sensitivity based on the strength of the trend and the volatility of the asset. In doing so, signals can be given extremely fast during favorable market conditions. False signals can still appear, so visual confirmation/judgement is required before taking a trade.
The indicator:
Trend Bias Moving average. [Length=200] Thick green and orange line shows us trend bias. - If the moving average is green, then the average price level is above the moving average = overall bullish conditions. - As the moving average draws closer to price, or is straight, conditions are changing - If the moving average is orange, then the average price level is below the moving average = overall bearish conditions.
Dual lag reduced instantaneous moving average. [Thin orange line] This moving average is adaptive and fast, and will give buy and sell signals on crossover with price (EMA 6).
Buy and sell signals are shown visually using up and down arrow. IMPORTANT: To filter out false signals, check other MA's like the 50 period hull moving average (dotted plot) for visual confirmation.
Furthermore, Significant support and resistance levels can be found on the right, shown as dotted horizontal lines. The importance of these levels is calculated based on the strength of the support/rejection, the volume, and the amount of times resistance and support was tested. The location of the nearest moving averages below and above is also included as further potential support and resistance.
What to watch out for a good entry
- Watch for price to break out of the gray zone, and/or successfully retest it for a great entry.
Make your own decisions and never solely rely on a tool that should only be giving you an "indication".
Happy Trading, MM
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Added the ability to hide details (signals)
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UPDATE
I have added several new settings and features:
Scalp Mode & Swing Mode Macro Bull/Bear Signals Lunar Phases: Full Moon / New Moon
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Update:
Includes new fibonacci retracement feature, and more settings to play with.
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bug fix on fib retracements
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Update: I changed the sensitivity and length of the XMA and added a few new visual features: - Bug Fixes, color changes, Fib retracements
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Update: Changes to the algorithm, sinsitivity and some visual edits
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Update: More edits to S&R accuracy, and optional moon cycles
Your work is some of the best I have seen in indicators, I played in a band for years, musicians are so creative, thanks for your dedication in discord and providing us with these great tools, :)
ShinobiNoJutsu
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This one is the best for me rn !!! Cheers I'm following you're TA and almost every move that you are making in our Discord Group Brother , thank you for everything that you are giving to us !!