The indicator consists of the following:
- Direction - True Range and columns shown above and below 0 depending on direction of the period's price
-- TR (gray) shows the current period's trading
-- ATR (Impulse colors, see below) shows an of TR over a specified length
-- Can be used to determine stops and targets (Example: Stop loss at prev close - ATR, Target at 2x ATR)
- Index - Alexander Elder's of (change(close) * ), shows crosses above 0 (green) and below 0 (red), and intermediate signals
-- Shows bull vs. bear interest/commitment/dominance
-- Elder recommends length of 2 for buy/sell signals, and 13 for weekly chart bull/bear dominance & trend direction signals
-- Intermediate signals are shown above 0 when falling ( salmon ), or below 0 when rising (pale yellow)
- System - Range columns are colored using Alexander Elder's censorship system (green: do not short, red: do not long, blue: is up to you)
-- Shows overall trend health ( histogram and up/down changes)
* Range Direction
* Force Index
* Impulse System
Với tinh thần của TradingView, tác giả đã xuất bản tập lệnh theo mã nguồn mở, vì thế trader có thể dễ dàng hiểu và tùy chỉnh được. Bạn có thể sử dụng miễn phí, hoặc tùy chỉnh lại mã đã được cấp phép bởi Quy tắc Chung. Bạn có thể sử dụng nó trên biểu đồ.
The goal was to take a bunch of indicators I regularly had on my charts and combine them into one so that I could still have them all even if I didn't have a pro subscription. If you're able, I would imagine the best way to learn how to "use" it, would be to put each individual indicator on the chart from the public library and see how they are represented in this one.