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I need help with a Visual Candle Counting indicator, please.
Visual Candle Counting Indicator:
(SMA's based on close price)
1)Start counting trade days once SMA 3 has crossed above SMA 10.
2) If SMA 3 is still above SMA 10 after 10 trade days show visual indicator above each candle (circle or triangle) that is 10+ until SMA 3 crosses below SMA 10.
3) once the SMA 3 has crossed back below SMA 10 visual indicator disappears.
4) Start counting trade days once SMA 3 has crossed below SMA 10.
5) If SMA 3 is still below SMA 10 after 10 trade days show visual indicator below each candle (circle or triangle) that is 10+ until SMA 3 crosses above SMA 10.
My purpose for this indicator is to show me when buying the stock after a break out would be chasing, in my opinion.
Any helpful info would be welcomed. -Charles
Can you help answer these questions from other members on NexusFi?
The signal will be shown as a color of bar....if sma3 is above sma10 for 10 bars and more then color of bars will be green.....and the red color for opposite condition