- a fast (16 periods by default),
- a slow MA (64 periods by default),
- 3 different sorts of crosses,
- big swings identification,
- buy/sell signals on CMFP crossing back from outside user-defined levels,
- buy/sell signals on the slow MA above/below user-defined levels,
- alerts on big swings and buy/sells.
This indicator started with @LazyBear code (VAPI) at:
@cI8DH then changed the scale to 0-100, which I find very useful:
I then added the rest.
The chart above shows both clean and busy versions of the indicator.
Note that the default length is 10 rather than the commonly used 20. I use CMFP in conjunction with VFI and like the fact that it is faster than VFI. The default inputs show the way I normally use this indicator, with the slow MA shown in histogram mode. I find it gives good context to the signal line. Crosses between the two are often useful.
The buy/sell signals aren’t the main attraction of this indicator, and nothing to write home about. Like the big swing markers, I think it’s more realistic to view them as pointers to potentially interesting areas on charts. Their nature makes them more suited to identifying reversals. They certainly aren’t reliable enough to turn this study into a strategy and I normally don’t use them. The levels pre-defined for the buy/sell signals on CMFP are most useful on short intervals. The buy/sell signals on the slow MA work on a more complete range of intervals. Optimization for your specific instruments and intervals will improve their reliability.
As usual when defining alerts, be sure you already have defined proper inputs and that you are on the intended interval, as they will be used when triggering alerts.
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