The default length is 4 bars, but Walter used 5 for this indicator, you can play around with the settings and see how it works for you. It is ONE OF THE VERY BEST!
The Green Line and Yellow Line are the same indicators, just the lengths are different. The Yellow line is set to 8 length, but Walter used a 10, again, put in your own lengths and see what works.
We took it 3 steps further to make the Green Line better than before.
1. We averaged the original result by 3 and plot the updated value to smooth the Green Line out.
2. We Added bars to the line to it to see the height of each new bar to determine the strength and weakness of each new bar.
3. We added cycle counts to each bar up and down.
You don't really trade indicators in our opinion, you use indicators to show momentum and reversal areas.
The Green Line does this in a way that could shock most professional traders.
Don't take our word for it, check it out yourself and sign up for a free demo.
Past performance is not necessarily indicative of future results.
Past performance is not necessarily indicative of future results..
Next -> Alpha 06 - Yellow Line
Futures, Options on Futures and Forex trading involves a substantial degree of risk of loss and is not suitable for all individuals. An investor could lose the entire investment or, in some cases, more than the initial investment. Past performance is not necessarily indicative of future results.