The Reverse Macd was created by Johnny Dough (Stocks and Commodities Jan 2012) and this is another indicator in my ongoing series to find those hidden gems. This indicator works in a few very powerful ways. For example the blue line shows you what the current price would be if the macd was at the macd level that you choose. I set the default to 0 but feel free to change it if you want. This will give you short to medium term info by telling you if it is an uptrend when the price is above the blue line or vice versa. It also creates the reverse macd line and it's signal line by using information from the previous day to decompile the macd and show you the price that it would be at if the macd was at that level. It turns this into a new moving average that closely tracks price movements and with the two competing signals, gives you more than enough info to find the perfect entry and exit points. Like always I have included strong buy and sell signals in addition to normal ones so darker colors are strong signals and lighter colors are normal signals. Buy when the line is green and sell when it is red.
Let me know if there are any other scripts you would like to see me publish!
リリースノート
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Included a fix for forex symbols not working correctly with this indicator
do you think the exit line on this script works pretty well
cheatcountry
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@CodyMaki, depends on the exit strategy you are using whether short or long or short term or long term but overall yeah this performs well in backtesting
CodyMaki
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@cheatcountry, ok cool thank you and do you recommend this a certain time frame im usually always trading on the 15 minute
cheatcountry
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@CodyMaki, I wrote this script to be used with any time frame so if you are trading using 15 minute then maybe try both strategies in paper strategies that I outline above and see which one works best
CodyMaki
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@cheatcountry, ok awesome thank you and hey quick question do you trade at all and for how long and as well do you offer any mentorship im looking fors omeone i can learn a thing or two from and be my best self in these foreign lands lol
cheatcountry
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@CodyMaki, I do but I charge for stuff like that. You can always ask me questions via telegram @cheatcountry
CodyMaki
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@cheatcountry, that sounds fare and i understand theres usually a fee your time is valuable and sweet ill join your telegram thank you and as well would like to say your a very smart person and talented i cant imagine how long it takes and much hard work it goes into creating these scripts for everyone to find success within your knowledge thank you for everything you do i have noticed alot of your scripts are very unique and powerful thanks for everything looking forward to getting to possibly know you
wow, how amazing this indicator, when i look back to histories, it can be pivot for s / r , divergence works well, somotimes can be found in smaller time frame. combining with another indicator works really amazing.