What does it do? Converts all DMI lines into one line and represents the line behaviour in a histogram format, which provides more understanding of this indicator movement.
How does it work? The better sell signal is given when the line crosses under the zero line (providing the 3of3 signal), but an antecipation of the selling opportunity is given when the line crosses under the top of its closest histrogram bar (providing the 1of3 signal). And vice-verse for the by signal. When the line goes under the oversold zone, it won't take to long to move out of that zone providing us with the 2of3 signal), and vice-verse for the overbought zone. You won't provided with all 3 signals at all time, once it depends on the line move, but the more signs you get, the earlier you can keep your eyes on a potential opportunity.
What's my filling? Gives you a quick perception of the direction of the price move. When all indicators are showing the same direction and the DMH shows the other direction, I'd wait to see the DMH joining all other indicators. Until that happens, the price seams to get stuck.
Indicator features: - red arrow above the histogram provides the line crossing under the top of its closest histogram bar, and a green arrow under the histogram provides the line crossing above the negative top of iths closest histogram bar - Trend Color Bar: let the candlesticks show you the trend and its reversal - Momentum Power: besides to the above features, you can add a momentum power indicator with arrow and/or moving average lines crossing
To have access to this indicator, please DM me. Don't contact me in the comment area.
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This release includes a new line called "Reversal Line" that helps us spot potential price reversal.
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Update just to fix chart image that was previously uploaded incorrectly.