DislikedDids,
I would like to learn more about the tweaks you are using with the X50 system. Would you be able to share the "wave" indicator that you added to your chart or point me in the direction where I could obtain it.
Thanks,
ChrisIgnored
I don’t think a “wave” indicator as such exists. The best is to add 3 EMAs 34 on your chart.
The wave can be used different ways.
1)It gives instructions on the trend, Up or Down.
2)It can prevent trading in ranging markets, i.e. when the price is between the top and bottom EMAs.
3)The Wave can also be used as a “Breakthrough” indicator. When the wave is broken, e.g. the price closing above the top EMA can be a BUY signal.
Last but not least I used the Wave as a “strength” indicator. You should see it as a clock. The angle can be used as with your watch. The time can be 1, 2…up to 5 o’clock. I like to buy when my “wave” clock is showing 1 or 2 o’clock and sell when the time is 4 or 5 o’clock.
I hope all this make sense and don’t hesitate to contact me shall you require more information.
Cheers,
Dids