Buy signal watchlist And Buy signal on your Chart (Red Spot)

by srishail, 5132 days ago		Share \|

This object will Give you the best buy entry of watchlist and the same formula tweaked for chart visuals.
The indicators i used in this object are As Follows,

Macd,Macd signal,EMA And MAX,

MACD(Moving Average Convergence/Divergence),MACD returns the Moving Average Convergence Divergence indicator. MACD is a momentum oscillator, yet its primary use is to trade trends. MACD has two lines, one called MACD line or fast line and the other MACD signal or slow line. Differents interpretation can be made using MACD.
EXAMPLE -Macd(15).

MacdSignal( ARRAY signalperiod),EXAMPLE-MacdSignal(15).

EMA(Exponential Moving Average),
In a Simple Moving Average, each value in the time period carries equal weight, and values outside of the time period are not included in the average. However, the Exponential Moving Average is a cumulative calculation, including all data. Past values have a diminishing contribution to the average, while more recent values have a greater contribution. This method allows the moving average to be more responsive to changes in the data.
EXAMPLE
Ema(close, 14)

Max( ARRAY array, ARRAY array),For each bar of the ARRAY, returns the largest one.

The formula used here is As follows,
v1 = macd();
v3 = macdsignal(15);
v2=ema(v1, v3);
v4 = macd();
v5 = macdsignal(15);
v6=max(v4,v5);
v=cross(v6,v2);
var1 = v;
filter = var1;
use this download item for watch list.

for the Buy signal on the chart use the following formula in edit formula section,
v1 = macd();
v3 = macdsignal(15);
v2=ema(v1, v3);
v4 = macd();
v5 = macdsignal(15);
v6=max(v4,v5);
v=cross(v6,v2);
PlotSymbol(v, "b", 5, 0, AboveHigh, colorMediumBlue, colorred, PlotSymbolCircle);

copy and paste it in new formula section in the chart pane.