A signal histogram indicator. Draws a histogram with signal marks in a separate window. The histogram has three colors to determine buying, selling and the neutral state. Signal marks are drawn to indicate the change or completion of the current trend.
The indicator has three input parameters:
- Period - MA calculation period;
- First Range period - the first range (10 days by default);
- Second Range period - the second range (40 days by default).
Calculation of a Buy signal:
- Last Close > MAClose10 (10-day moving average of Close prices);
- Current MAClose10 > MAClose10 10 days ago;
- Last Close > Close 40 days ago.
A buy signal is formed when all the three conditions are met. Opposite conditions apply for selling.
