CrossBow

This indicator is created for novice and advanced traders.

Crossbow is an advanced generation of Moving Averages.

The indicator uses two lines: the first one is the third generation (3dg) of Moving Average, the second one is simple moving average (SMA).

*3DG is:

PRICE_CLOSE, 1 — PRICE_OPEN, 2 — PRICE_HIGH, 3 — PRICE_LOW, 4 — PRICE_MEDIAN, 5 — PRICE_TYPICAL, 6 — PRICE_WEIGHTED.

Method of work

SMA is delayed in comparison to 3dg, the junctions are considered signals for enter or exit a positions.

Analyzing the bends, which clearly reflect the general trend. Entry position: when 3dg is crossing the SMA.

Notes

Increased spacing between the lines gives a clearer idea of the strength of the trend.

Inputs

• MA_Period (default = 50) — period of the Crossbow moving average.
• MA_Method (default = 1) — method of the moving average.
• MA_Applied_Price (default =10) — applied price for the moving average.