NGRN BALANCE ALLOCATION INDICATOR v1
NGRN BALANCE ALLOCATION INDICATOR - Version 1
Overview
This indicator can be used to determine trade quantities as the market ebb and flows. Deeper red histogram values would indicate more funds allocated to the buy/long condition, and higher green histogram values would indicate a larger percentage of funds to sell or short. Uses volume weighted moving average as the basis for Fibonacci bands where candle crosses/touches are measured.
Features
Access
Access to use is FREE however the source code is protected.
Overview
This indicator can be used to determine trade quantities as the market ebb and flows. Deeper red histogram values would indicate more funds allocated to the buy/long condition, and higher green histogram values would indicate a larger percentage of funds to sell or short. Uses volume weighted moving average as the basis for Fibonacci bands where candle crosses/touches are measured.
Features
- Length indicator to control period of time to evaluate VWMA basis
- Option to use open, close, high, low, hl2, hlc3, ohlc3 as source for VWMA
- Option to option to specify the type of contact on fib bands
- Option to specify the multiplier for the fib bands
- Clean/Simple UI - Facilitating ease of use.
Access
Access to use is FREE however the source code is protected.