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EMA Difference Histogram & Stochastic Indicator
Indicator to compare two EMAs.
Difference will be plotted on a histogram and the color of the historgram is indicating, if a difference is getting bigger or smaller. This will help to determine positioning.
In addition there is an traffic light at the bottom to indicate if Stochastics are currently bullish ( k > d ) or bearish ( d < k ).
How to use:
- Decide on a time frame (6hr and 8hr seem to work pretty well)
- Wait for candle close!
- When Histogram turns dark green & Stochastics traffic light is green -> Long position
- When Histogram turns light green -> Cash (exit long position)
- When Histogram turns dark red & Stochastics traffic light is red -> Short position
- When Histogram turns light red -> Cash (exit short position)
I am happy for any constructive feedback.
Cheers and stay safe, everyone!
Difference will be plotted on a histogram and the color of the historgram is indicating, if a difference is getting bigger or smaller. This will help to determine positioning.
In addition there is an traffic light at the bottom to indicate if Stochastics are currently bullish ( k > d ) or bearish ( d < k ).
How to use:
- Decide on a time frame (6hr and 8hr seem to work pretty well)
- Wait for candle close!
- When Histogram turns dark green & Stochastics traffic light is green -> Long position
- When Histogram turns light green -> Cash (exit long position)
- When Histogram turns dark red & Stochastics traffic light is red -> Short position
- When Histogram turns light red -> Cash (exit short position)
I am happy for any constructive feedback.
Cheers and stay safe, everyone!
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