Before I begin I want to mention: 1. This is an inspiration from the Ultimate Oscillator by zinlytics. (Link: tradingview.com/script/xbwfKG2B-Ultimate-Oscillator/) 2. I wanted to make an indicator similar to the Ultimate Oscillator by making it more responsive to price 3. This indicator is a trend indicator which uses the Weighted Moving Average (WMA) 4. Also, I want to thank PhoenixBinary for helping me out
The indicator: 1. Made several changes such as switching over to a WMA instead of an EMA 2. When WMA 20 is blue and is going upwards, it means there is an uptrend 3. When WMA 20 is red and is going down, it means there is a downtrend 4. During a trend, the color may switch to red and blue occasionally. When the color switches back to the direction of the trend, it can be used for re-entries
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Before I begin I want to mention: 1. This is an inspiration from the Ultimate Oscillator by zinlytics. (Link: tradingview.com/script/xbwfK...) 2. I wanted to make an indicator similar to the Ultimate Oscillator by making it more responsive to price 3. This indicator is a trend indicator which uses the Weighted Moving Average ( WMA ) 4. This indicator is designed primarily for NNFX (No Nonsense Forex) though it can be used for any type of trading style 5. Also, I want to thank PhoenixBinary for helping me out
The indicator: 1. Made several changes such as switching over to a WMA instead of an EMA 2. When WMA 25 is blue and is going upwards, it means there is an uptrend 3. When WMA 25 is red and is going down, it means there is a downtrend 4. During a trend, the color may switch to red and blue occasionally. When the color switches back to the direction of the trend, it can be used for re-entries