Get this indicator here (.ex4)
This indicator in our view is a great replacement for the traditional moving average. It significantly reduces whipsaws compared to a standalone moving average line, and some traders actually trade this line “naked”.
They go long when price breaks and closes above the line, and go short when price breaks and closes below the line, effectively a trend following system that always takes on a position. While this looks good, another indicator should be employed for locking in profit.
We believe this indicator can help traders in the following:
- Serve as a short term support and resistance line
- Can be used for scalping breakouts of this indicator line
- Can serve as a filter for other trend following systems
Please comment below and let us know what other indicators can work together with this one.
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Hi , I love this indicator and have used in my Forex trading. I just wonder if there is a alert that one can have with this indicator?
Kind regards Alf
Hi Alf, yes this indicator seems more effective than regular moving averages. We did a quick google search and you may find your request here: http://www.forexfactory.com/showthread.php?t=218474