indicator MACD Elder Impulse Max is a modification of the standard MACD indicatorwhich uses the Elder impulse system.
Histogram bars of the MACD Elder Impulse Max indicator are colored depending on the position of the bar relative to the fast exponential moving average, according to the concept outlined in Elder's impulse system.
MACD Elder Impulse Max indicator settings
- FastEMA_Period - period of the custom indicator Moving Average;
- FastMA_Period - the period of the MACD fast moving average;
- SlowMA_Period - the period of the slow moving average of the MACD indicator;
- SignalMA_Period - the period of the signal moving average of the MACD indicator.
Application in trade
The bars of the Elder Impulse Max MACD indicator can be colored in the following colors:
- Green bar - prohibits opening a short position. It allows to hold an open long position, to increase it or to close it.
- Red bar - prohibits opening a long position. Allows you to hold an open short position, to increase its volume, or to close it.
- Column of blue - when appearing after a column of red or green removes their bans.
According to ForTrader.org experts, MACD Elder Impulse Max indicator can be a great filter in almost any strategy.