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 by srishail, 4963 days ago

This object will Give you the best buy entry of watchlist and the same formula tweaked for chart visuals.
The indicators i used in this object are As Follows,

Macd,Macd signal,EMA And MAX,

MACD(Moving Average Convergence/Divergence),MACD returns the Moving Average Convergence Divergence indicator. MACD is a momentum oscillator, yet its primary use is to trade trends. MACD has two lines, one called MACD line or fast line and the other MACD signal or slow line. Differents interpretation can be made using MACD.
EXAMPLE -Macd(15).

MacdSignal( ARRAY signalperiod),EXAMPLE-MacdSignal(15).

EMA(Exponential Moving Average),
In a Simple Moving Average, each value in the time period carries equal weight, and values outside of the time period are not included in the average. However, the Exponential Moving Average is a cumulative calculation, including all data. Past values have a diminishing contribution to the average, while more recent values have a greater contribution. This method allows the moving average to be more responsive to changes in the data.
EXAMPLE
Ema(close, 14)

Max( ARRAY array, ARRAY array),For each bar of the ARRAY, returns the largest one.

The formula used here is As follows,
v1 = macd();
v3 = macdsignal(15);
v2=ema(v1, v3);
v4 = macd();
v5 = macdsignal(15);
v6=max(v4,v5);
v=cross(v6,v2);
var1 = v;
filter = var1;

for the Buy signal on the chart use the following formula in edit formula section,
v1 = macd();
v3 = macdsignal(15);
v2=ema(v1, v3);
v4 = macd();
v5 = macdsignal(15);
v6=max(v4,v5);
v=cross(v6,v2);
PlotSymbol(v, "b", 5, 0, AboveHigh, colorMediumBlue, colorred, PlotSymbolCircle);

copy and paste it in new formula section in the chart pane.

What is this?

 Type: Watch List Object ID: 795 Country: All Market: All Style: Technical Analysis

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Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.