RSI VOLUME ADX Based MACD, This is the implementation of RSI + VOLUME + ADX + MACD in a single Indicator.
Merged Indicator
RSI-14
MACD 12,26,9
Volume
ADX 14,14
i have plotted a MACD as usual, Applied RSI based OS/OB colors to MACD Histogram.
Plotted ADX as Background for trend confirmation.
Volume is multiplied with MACD , Signal, Histogram. (low volume shows low histogram values)
Background is Trend color. Weaker trend is represented by a gray color shade. other wise trend is represented as a strong color.
Entry can be analyzed against the following factors.
1.Background color must be strong
2.Histogram above or below
3.size of histogram must be sufficient (mostly crossovers with zero line are breakouts)
4 histogram color is RSI OS/OB color. when sideways or at 50 level the colors are mixedup and a gradient shade is formed.
please leave your comments..
access indicator at.
www.tradingview.com/...LUME-ADX-Based-MACD/
Merged Indicator
RSI-14
MACD 12,26,9
Volume
ADX 14,14
i have plotted a MACD as usual, Applied RSI based OS/OB colors to MACD Histogram.
Plotted ADX as Background for trend confirmation.
Volume is multiplied with MACD , Signal, Histogram. (low volume shows low histogram values)
Background is Trend color. Weaker trend is represented by a gray color shade. other wise trend is represented as a strong color.
Entry can be analyzed against the following factors.
1.Background color must be strong
2.Histogram above or below
3.size of histogram must be sufficient (mostly crossovers with zero line are breakouts)
4 histogram color is RSI OS/OB color. when sideways or at 50 level the colors are mixedup and a gradient shade is formed.
please leave your comments..
access indicator at.
www.tradingview.com/...LUME-ADX-Based-MACD/
