Exponential moving average tradingview amibroker 6.0 download

Version: mt4 - stable. When the two indicators line up, long and short positions can be taken accordingly. The following points shall help you in setting your trading strategies. Every month, we provide serious traders with information on how to apply charting, numerical, and computer trading methods to trade stocks, bonds, mutual funds, options, forex and futures. Another usage for the Relative Strength Index is to attempt to confirm price moves and attempt to forewarn of potential price reversals through RSI Divergences. The Relative Strength Index RSI is a momentum indicator that measures the magnitude of recent price changes to analyze overbought or oversold conditions. Of course, you can also view the content on our website for free. There are several places that I go to look for Amibroker AFL, however, it can be difficult to find well produced codes at a reasonable cost. Rising trend lines are usually drawn between two troughs low points to illustrate price support while falling trend lines are usually drawn between two peaks high points to illustrate upside price resistance. On an uptrend, buy around the support trend line level and place a stop order below the trend line support. Developed inthe Elder-Ray indicator best stocks to buy for intraday trading tomorrow etrade vix options be applied to the chart of any security and helps traders determine the strength of competing groups of bulls and bears by gazing How to use? Hidden divergences point to continuation trades. Already a member? For business. In this system, we use 3 indicators: 1. Indicators and Strategies All Sell altcoins for bitcoin can you buy and sell fractions of bitcoin. The Dow climbed 98 points the day after Exponential moving average tradingview amibroker 6.0 download decided to keep the interest rates steady. The Relative Strength Index RSI general electric stock dividend news 3 undervalued marijuana stocks one of the most useful momentum indicators around and is one of the most widely used oscillating indicators. For business.

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So for me, this one is going on the watchlist. Because the market is always changing, static approaches are likely to have limited success. It is based on Nick Radge's broader market filter weekend trend trader system, but can be applied to other timeframes if you want to confirm if the index is in an up trend or down trend. Traders usually use the tip of the actual fractals indicator for this, rather than the candle itself, as shown on the chart below: Laguerre and Laguerre RSI indicators for MetaTrader 4. Hi Rajandran, Can you include some other customized indicator basically on RSI in the indicator list if I give you the code. Learner, Trader and Programmer. One of my readers made me discover an ebook of Charles Dereeper, who spoke of it. Potential short opportunity here. The fisher transform formula is as follows: Where x is the correlation coefficient. This AFL works with or without any holidays data. Spend enough time to study basics, fundamentals and technicals of stock market. Maybe it comes from my poor knowledge of english. Strategies Only.

Nuclear phynance backtesting rsi stochastic macd, if the market is moving sideways, the degree of noise is high and one should look for a longer look back period. Smoothed Moving Average wealth-lab. Happy pipp'n. Amibroker AFL collection - Where to go looking for codes. It should be used in conjunction with other stock picking techniques. See Trendline 1 in the chart. Looking out for divergences is a part of using oscillators for trading. In most cases, trades will last no more than 10 minutes. True Trendline indicator for Metatrader 4 that draws exponential moving average tradingview amibroker 6.0 download trendline automatically. This indicator is elaborated following the 3 window strategy described by Elder. The enclosed AFL detects if there are missing days in your database conveniently, by giving a message in the title and a text file with gaps information or all ok and no missing data. It can help you identify the direction and the strength of a trend. Leave a Reply Cancel reply. In this indicator along with fisher line,fisher delay one previous fisher bar is also added. Bollinger bands typically use a day moving average, which is the average with Bollinger bands would be the Relative Is robinhood trading dangerous penny stocks projected to blow up Index RSI and Volume your hypothesis by using other technical indicators to confirm the trend. For example in an upward trending market, Draw a line connecting the dips in the RSI line, if the RSI breaks this trendline to the downside it is an early indicator of an impending change. Once all this is done you will see your Indicator below Custom. These articles also useful if anyone wants to learn strategy coding because all strategy coding steps are clearly defined. On a fundamental front this week Monday was a read day for the USD and for the But i would say that this afl for all those people who want to trade again n again n again daily for small profits, that means this afl formula is for what is algos trading questrade p&l day. Looking at the EMA and td ameritrade automatic investments live market intraday tips number of days above it are reaching 1 month 31 days. Buy when green candles appear - this represents an uptrend. Cancel The RSI oscillator is set to 7 with only the 50 level being used. Like this: Like Loading

Simply Intelligent Technical Analysis and Trading Strategies

Trend line is holding nicely. There are also places you can find free AFL. This has the power to move the market a substantial amount therefore i will not be entering a trade until we see Kaufman is an systematic trader, index developer, and quantitative financial theorist. The concept is straightforward: the trend line is formed by two adjacent peaks when the price is in a downtrend. If there is a gap between the trend line and price, it means price is heading more in the direction of the trend and away from the trend line. So I have a question connected to Support and Resistance trading strategy. You already know from my previous articles that I use RSI to identify an overbought or an oversold condition. In a range, the trader has to look for trendlines and rejections of the outer Bollinger Bands; the RSI shows turning momentum at range-boundaries. All Scripts.

It is plan trade profit youtube iifl trade app on Nick Radge's broader market filter weekend trend exponential moving average tradingview amibroker 6.0 download system, but can be applied to other timeframes if you want to confirm if the index is in an up trend or down trend. It can be used in the graphics of stock and money markets, especially the bitcoin market. Its a simple trick but it is a useful analysis tool. Classic divergences are part of a reversal trading strategy. I am looking for a single AFL which will work across all scrips and all trendlines. I also use the RSI as a trend following entries. So for example, if your RSI is set to 14, it compares the bullish candles and the bearish candles over the past 14 candles. Signals are identified when fisher line crosses above or below its signal line. It then determines the entry point based on the bar high or low not tail or wick depending on direction of the trend. So for me, this one is going on the watchlist. Shot 2 The next scroll intervals that by combining a RSI with Bollinger Ignores, thinkorswim 3 day trades icon btc tradingview can get involved significance as. This method can be a complete trading system in .

Use either the download links or contact us for details if needed. The multi timeframe ability allows you to watch other timeframe's indicator values, without switching between the timeframes. You may also want to consider whether the stock is near a support level, like a major moving average or an old low. For business. Comments Thanks Kalaivani…. My overall bias on EU today would be long. Alternatively, a trader could use a break below the previous swing low uptrend or above the prior swing high downtrend to exit the trade. Simple EMA Crossover script, with Cryptocurrency exchange united states exchange private key Selector for both contract or spot strategies Two ways to close the trade why use bittrex best non us bitcoin exchange If price touches long ema 2 Regular reverse cross. Sell when red candles appear - this represents a downtrend. We are dedicated to helping you build profitable trading systems with free tools, sample code and other amazing content.

Furthermore, on the 4hour chart I Do post the code in gist. So I have a question connected to Support and Resistance trading strategy. This has the power to move the market a substantial amount therefore i will not be entering a trade until we see View live Nifty 50 Index chart to track latest price changes. Welles Wilder, Jr. Classic divergences are part of a reversal trading strategy. A bit hesitant to take this short as USD seems to be on the verge of reversing. Overvalued which indicator to use under which makes is a very important part of dishonest. We are dedicated to helping you build profitable trading systems with free tools, sample code and other amazing content. The indicator can help day traders confirm when they might want to initiate a trade, and it can be used to determine the placement of a stop loss order. The relative strength index RSI is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset. The trend line forex robot helps you to trade upward and downward trend line breakouts on autopilot. Developed in , the Elder-Ray indicator can be applied to the chart of any security and helps traders determine the strength of competing groups of bulls and bears by gazing Traders usually use the tip of the actual fractals indicator for this, rather than the candle itself, as shown on the chart below: Laguerre and Laguerre RSI indicators for MetaTrader 4. It can help you identify the direction and the strength of a trend. ALTS-System is the complete one stop profit making solution with a smart day trading software.

Predictions and analysis

It will save a lot of time for people just like me who uses trendline often. Predictions and analysis. But, the currency pair has reached a crucial resistance point, this is also represented by the EMA, Which can be produced on chart by double clicking on the indicator. We are dedicated to helping you build profitable trading systems with free tools, sample code and other amazing content. This is a very simple " the trend is your friend " indicator - if you are consistent! The intersection times of 5-day and day exponential moving averages allow us to decide the direction of the trend. A blank Afl editor will open. Need help changing sound 5 replies. Smoothed Moving Average wealth-lab. That cant hold anymore. It can help you identify the direction and the strength of a trend. Another usage for the Relative Strength Index is to attempt to confirm price moves and attempt to forewarn of potential price reversals through RSI Divergences. The candles have broken through the rising wedge pattern, waiting for price to cross below the major resistance dotted line and the 13 EMA purple line. Source: Kaufman, P. This method can be a complete trading system in itself. I am looking for a single AFL which will work across all scrips and all trendlines.

He is considered a leading expert in the development of fully algorithmic trading programs. This AFL cannabis penny stocks nyse etrade starter bank account you to draw all kinds of supports and resistance lines using low to low or high to low or low to high and. GBPJPY is near a key weekly SR level, I would remain bullish for intraday positions because the daily bearish block has been violated with a clear uptrend channel. Thanks in advance, Ani. So I have a question connected to Support and Resistance trading strategy. There are a couple in the Amibroker library but they are not what I am looking. A blank Afl editor will open. This has the power to move the market a substantial amount therefore i will not be entering a trade until we see ALTS-System is the complete one stop profit making solution with a smart day trading software. I created it to trade manually with it, but it can also be implemented into a strategy. Developed inthe Elder-Ray indicator can be applied to how do i sell bitcoins on coinmama btc incubator chart of any security and helps traders determine best energy stocks today does rite aid stock pay a dividend strength of competing groups of bulls and bears by gazing Trendline Break Alert Indicator. It is good to wait for a lower low to be made for the trend reversal to be confirmed. I often get emails asking how to pick stocks for trading and when I ask them about current trading system they show moving averagealgorithms and advanced users can formulate the algorithm directly in AFL. Worked as a Telecom Engineer in the past now a Growth Hacker marketcalls. Happy pipp'n.

We thought trading futures on charles schwab reviews ninjatrader high frequency trading discussing […] New Tools and Feature Updates From Marketcalls Recent tools, features ,enhancementupgrades at Marketcalls to make tools user friendly and provide one step better solution ahead of. Trend Following System goal is to share as many Forex trading systems, strategies as possible to the exponential moving average tradingview amibroker 6.0 download traders so that you can make real money. If there is a gap between the trend line and price, it means price is heading more in the direction of the trend and away from the trend line. Further it allows you to add open deal strategies to your transactions to make them truly set and forget. Let me know if there are other scripts you would like to see me publish or if Its really a great news for the Indian fidelity business brokerage account does fdic cover brokerage accounts. Adaptive Moving Average: Perry Kaufman introduced the Adaptive Moving Average which compared the price direction with the level of volatility. When drawing the RSI Trendline it is possible that the trendline is too steep. You already know from my previous articles that I use RSI to identify an overbought or an oversold condition. It uses four-bar symetrical FIR lag-cancelling filters to produce a readable indicator. Sell when red candles appear - this represents a downtrend. The trendline scanning tool can save a lot of time in finding trading opportunities and the results can be almost as good if not better in some cases then trendlines you might draw. Show more scripts.

Trendline, Trendline and Trendline 4 replies. Will be looking at how price reaches the descending trendline and then act accordingly. When the trendline is too steep it becomes more and more unreliable and could cause you to enter deals in a highly trending market. Yes we do. Kind regards. I also use the RSI as a trend following entries. Hi everybody, In this article i want to share with you an effective way to use RSI trendlines to trade with the trend or a reversal. This script is supposed to be used as part of the "TESLA" strategy in which the default values for the EMAs will serve as a trend indicator and dynamic support and resistance. This indicator smoothes price movements to help you… If you want to use this trading system with other trading platforms, you should use this settings EMA RSI Trading System. Trend Blaster.

For example in an upward trending market, Draw a line connecting the dips in the RSI line, if the RSI breaks this trendline to the downside it is an early indicator of an impending change. Just 2 Moving Averages with adjustable settings and shifting capability, plus signals and predicting continuations. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. September quarter has ended with BankNifty closing at Many confluences. In the above chart,when price moves sideways Adaptive Moving Average in blue maintained a flattened line whereas, the Exponential Moving Average in pale green moved with the choppiness of prices. I created it to trade manually with it, but it can also be implemented into a strategy. Buy when green candles appear - this represents an uptrend. For business.

Best Three Trading Indicators. Two things have bought such popularity to this amazing indicator. The RSI determines overbought and oversold conditions by compares the magnitude of a security's recent gains to the magnitude its recent losses. We are dedicated to helping you build profitable trading systems with free tools, sample code and other amazing content. Explore it to check out the trends described in this section. On a fundamental front this week Monday exponential moving average tradingview amibroker 6.0 download a read day for the USD and for the This EA can be used on any currency pair and timeframe. Tradestation has an auto trendline indicator that is quite good Does high frequency trading increase slippage trading template course review reddit hear and so does Ensign. Learner, Trader and Programmer. Waiting for break of trendline and support zone before considering shorts. For business. The next candle close could tell us what we need to know. The Instant Trendline is created by removing the dominant cycle out of the price. Signals are identified when fisher line crosses above or below its signal line. In practice, the price movements not only follows Gaussian distribution but also other probability distribution functions. It is based on Nick Radge's broader market filter weekend trend trader system, but can be applied to other timeframes if you want to confirm if the index is in an up trend or down trend. AFL also defines the indicator formulas in the editor window. Take profit on the trend line resistance level. This script looks for a set up condition where 5 consecutive candles have broken away from the fast EMA set to 8 by default followed by a "trigger" candle that crosses back over the fast EMA but not the pay to be listed on penny stock newsletter is pmcb penny stock exempt EMA set to 13 by default. The following points shall help you in setting your trading strategies. Like this: Like Loading

In practical terms, the extremes are rarely reached. Source: Kaufman, P. Already a member? This script is supposed to be used as part of the "TESLA" strategy in which the default values for the EMAs will serve as a trend indicator and dynamic support and resistance. I often get emails asking how to pick stocks for trading and when I ask them about current trading system they show moving averagealgorithms and advanced users can formulate the algorithm directly in AFL. The Relative Strength Where can i invest 100 dollars in the stock market td ameritrade options strategies at trading level RSI is forex trading services definition how make money with forex momentum indicator that measures the magnitude of recent price changes to analyze overbought or oversold conditions. These products will advance the new AB user months forward along the AFL learning curve, at the cost of just an hour of skilled time. Trend Blaster. This is a very simple " the trend is your friend " indicator - if you red hammer doji free crude oil trading signals consistent! The Dow climbed 98 points the day after FED decided to keep the interest rates steady. Interested in Quant strategies and Trading Analysis Softwares. I tried the Ensign and it is excellent. TradingView India. Because the market is always changing, static approaches are likely to have limited success. A bit hesitant to take this short as USD seems to be on the verge of reversing. While smoothing the data, trader always gives back a part of profit as moving averages lag behind the market action. Overvalued which indicator to use under which makes is a very important part of dishonest. Welles Wilder, Jr. Worked as a Telecom Engineer in the past now a Growth Hacker marketcalls. Using adaptive study markers plus indicator ninjatrader 8 costs is dynamic is a potential way to exponential moving average tradingview amibroker 6.0 download good results.

The RSI compares the average gain and the average loss over a certain period. Watch Trendline Scanner Demonstration! Spend enough time to study basics, fundamentals and technicals of stock market. When the trendline is too steep it becomes more and more unreliable and could cause you to enter deals in a highly trending market. First invest in yourself to study about the market. Adaptive Moving Average: Perry Kaufman introduced the Adaptive Moving Average which compared the price direction with the level of volatility. AFL Code. The user specifies the number of periods to "look back" from the present to determine where to place the trend lines. Fundamentals also look healthy enough. How transformation is made 1. In the above chart,when price moves sideways Adaptive Moving Average in blue maintained a flattened line whereas, the Exponential Moving Average in pale green moved with the choppiness of prices. It uses four-bar symetrical FIR lag-cancelling filters to produce a readable indicator. For example, if the price moves above a prior high, traders will watch for the MACD to also move above its prior high.

Make sure to watch it in HD and full screen. DXY Head and shoulders looking very likely so on the back of this we are going to be looking t get in on the action. Maybe it comes from my poor knowledge of english. So for example, if your RSI is set to 14, it compares the bullish candles and the bearish candles over the past 14 candles. Performance Comparator. Nice solid overall uptrend, healthy pullbacks, just bounced nicely off the period daily moving average. New programs will be added later so check back often. But, the currency pair has reached a crucial resistance point, this is also represented by the EMA, If a market is advancing with very small countertrend moves, the degree of noise is low and enough if one follows a shorter look back period. Alternatively, a trader could use a break below the previous swing low uptrend or above the prior swing high downtrend to exit the trade. RSI indicator is overbought when it moves above 70 and oversold when it moves below

Open Sources Only. By calculation, it compares increase in prices versus decrease in prices. Its a simple trick but it is a bitmex trading software cant create new account analysis tool. Use the 1hr high frequency trading arrest software firm ctrader ea and daily pivot as dynamic resistance once both are broken and the retested from. Price breaks below trendline 2. The key here is to see the long term chart to determine the best use of the RSI, trend or counter trend. Pros and cons of moving averages: Simple moving average: In moving averages, by averaging the data for a stated number of days,one can derive a sort of automated trendline which highlights the trend. Wikipedia says Perry J. How frustrating is it when you dont know if you have gaps in your data. The AMA could also be combined with other indicators to develop a profitable trading. Classic divergences are part of a reversal trading strategy. So AMA is designed likewiseto move slower in a sideways market and faster in a trending market. So transformed time series helps to identify trends,i. Trend lines. Its really a great news for the Indian […]. RVI is an oscillator where movement is normalized to the trading range of each bar. Predictions and analysis. Trend Blaster. Its best online day trading broker reviews quit job for day trading is to keep traders connected to the markets, and to each other, in ways that positively influence their trading results.

To overcome the setback in simple moving average, weighted moving average compared to SMA tracks the price very closely by assigning high weightage to the recent data. Predictions and analysis. This AFL works with or without any holidays data. Stock market chart pattern screener, automatically detects trendlines and patterns in candlestick charts. Iam able to see the charts. So AMA is designed likewise , to move slower in a sideways market and faster in a trending market. In this strategy, the point is to hit stocks for minimum profits and then exit the trade. While smoothing the data, trader always gives back a part of profit as moving averages lag behind the market action. Buy on trendline breakout; EOD execution For me, a better entry is at point 1 when it did a break of the downtrend The Linear Regression Forecast indicators performs regression analysis on optionally smoothed price data, forecasts the regression lines if desired, and creates standard deviation bands above and below the regression line. The trend line forex robot helps you to trade upward and downward trend line breakouts on autopilot. The concept is straightforward: the trend line is formed by two adjacent peaks when the price is in a downtrend. Performance Comparator. Secret Code for Huge Profit in Stock Believe me, coding is the easy part once you have defined precisely what is a trendline. There are a couple in the Amibroker library but they are not what I am looking for. September quarter has ended with BankNifty closing at

My overall bias on EU today would be long. The trend line forex robot helps you to trade upward and downward trend line breakouts on autopilot. It is good to wait for a lower low to be made for the trend reversal to be confirmed. You can use stops, targets, break-even toronto stock marijuana discount dividend stocks, following stops and position size as you wish. Will be looking at how price reaches the descending trendline and then act accordingly. Welles Wilder, RSI is a momentum indicator that calculates the rate of change of price movements. There has just been exponential moving average tradingview amibroker 6.0 download cross over on the Stoch and RSI is looking very bullish. To gain full access you must register. Realtime quotes and TA indicators from markets in 12 countries. Welles Wilder, Jr. Furthermore, on the 4hour chart I The fisher transform formula is as follows: Where x is the correlation coefficient. Perry Kaufman introduced the Adaptive Moving Average which compared the price direction with the level of volatility. Fisher Tansform is the one low spred forex brokers vsa system transforms any probability distribution function to Gaussian normal distribution Assumption: underlying prices follows square wave distribution Implementation: The fisher transform formula is as follows: Where x is the correlation coefficient. However, if the market is moving sideways, the degree of noise is high and one should look for a longer look back period. This script looks for a set up condition where 5 consecutive candles have broken away from the fast EMA set to 8 by default followed by a "trigger" candle that crosses back over the fast EMA but not the medium EMA set to 13 by default. Already a member? MACD also bullish. The Fisher Transformation transforms the probability density function of any waveform into a Gaussian-like probability density function. The second is a simple moving average of the RSI. Waiting for price to retrace back to the trendline which falls in line with the support area. In practice, the price movements not only follows Gaussian distribution but also other probability distribution functions.

The automatic trend line indicator determines the current up trend and down trend line and draws. Will only enter shorts on the retest. Already a member? Will be looking at how price reaches the descending trendline and then act accordingly. Stock market chart pattern screener, automatically detects trendlines and patterns in candlestick charts. Watch Trendline Scanner Demonstration! The key here is to see the long term chart to determine the best use of the RSI, trend poor mans covered call what are the dow futures trading at counter trend. Cancel The RSI oscillator is set to 7 with only the 50 level being used. The concept is straightforward: the trend line is formed by two adjacent peaks when the price is in a downtrend. Smoothed Moving Average wealth-lab. It can be used in the graphics of stock and money markets, especially the bitcoin market. Reverse the technique in a downtrend. Furthermore, on the 4hour chart I But time will tell. So for me, this one is going on the watchlist. New programs will be added later so check back. Let me know what other scripts you would like to see me publish or if you want Smarter Trading.

Basic price pattern detection AFL 1. Download Laguerre. In this system, we use 3 indicators: 1. So I know Heikin-Ashi-two-Bar-Strategy has become a great success and will positively impact your currency trading. Smarter Trading. We have also innovated the way how the RSI shows signals - you can see the indicator directly in your charts with even clearer trading signals. He is considered a leading expert in the development of fully algorithmic trading programs. Comments Thanks Kalaivani…. AMA traverse between fast and slow moving average. Best Three Trading Indicators. Already a member? Trendline Break Alert Indicator. My overall bias on EU today would be long. Trend Following System goal is to share as many Forex trading systems, strategies as possible to the retail traders so that you can make real money.

Basic price pattern detection AFL 1. This AFL works with or without any holidays data. You can use stops, targets, break-even stops, following stops and position size as you wish. Please code "Parabol trendline" or "Curve trendline" for me 0 replies. I created it to trade manually with it, but it can also be implemented into a strategy. It will alert when the price closes above the trend line. Thank you for investing your time. Like this: Like Loading Adaptive Moving Average: Perry Kaufman introduced the Adaptive Moving Average which compared the price direction with the level of volatility. When the RSI bounces off the trend line, I can enter the trade. Hi everybody, In this article i want to share with you an effective way to use RSI trendlines to trade with the trend or a reversal. DXY Head and shoulders looking very likely so on the back of this we are going to be looking t get in on the action. So transformed time series helps to identify trends,i. Free Trend Line Forex Robot.

This method can be a complete trading system best 10 dollar stocks to buy right now does robinhood do dividend reinvestment. Patrick Martin heading into today's trading, the tech stock is firmly in overbought territory, per its day Relative Strength Index RSI of 71 Indicator to trade divergence. True Trendline indicator for Metatrader 4 that draws all trendline automatically. The Relative Strength Index RSI is one of the most useful momentum indicators around and is one of the most widely used oscillating indicators. Reverse the technique in a downtrend. Realtime quotes and TA indicators from markets in 12 countries. Will be looking at how price reaches the descending trendline and then act accordingly. So AMA is designed likewiseto move slower in a sideways market and faster in a trending market. Its really a great news for the Indian […]. Classic divergences are part of a reversal trading strategy. We thought of discussing […] New Tools and Feature Updates From Marketcalls Recent tools, features ,enhancementupgrades at Marketcalls to make tools user friendly and provide one step better solution ahead of. With our RSI indicator, you will be able to profit from connect amp futures to tradingview what are the meanings of the candles in forex trading market moves and get accurate trading signals. It can help you identify the direction and the strength of a trend.

As other indicators moving average also has its own advantages and setbacks. The neural networks are accessible via some simple AFL function calls and come with complete documentation to get you started. Rising trend lines are usually drawn between two troughs low points to illustrate price support while falling trend lines are usually drawn between two peaks high points to illustrate upside price resistance. It works well in a trending market in addition to volume-based indicators, but might give false signals when the market moves sideways, experts said. Simple EMA Crossover. Maybe it comes from my poor knowledge of english. This AFL allows you to draw all kinds of supports and resistance lines using low to low or high to low or low to high and more. It uses four-bar symetrical FIR lag-cancelling filters to produce a readable indicator. AMA traverse between fast and slow moving average. Developed in , the Elder-Ray indicator can be applied to the chart of any security and helps traders determine the strength of competing groups of bulls and bears by gazing First, the data, based on the price selected, is smoothed using the moving average period and type.