In the article “The CAM Indicator For Trends And Countertrends” in the January 2018 Traders’ Tips issue, author Barbara Star introduces using chart patterns based on a coordinated ADX and MACD or, as she abbreviates it, CAM. In the article, she describes using the CAM indicator to identify upward and downward trends as well as pullbacks in existing trends and countertrend rallies.
The author also suggests using other indicators such as an exponential moving average (EMA) and the commodity channel index (CCI) to help confirm signals generated by CAM.
- green candlesticks = uptrend
- gold candlesticks = pullback
- red candlesticks = downtrend
- blue candlesticks = counter trend
|
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 |
//PRC_CAM trend and countertrend | indicator //19.03.2018 //Nicolas @ www.prorealcode.com //Sharing ProRealTime knowledge mMACD = macd[12,26,9] aADX = adx[10] if aADX>=aADX[1] and mMACD>mMACD[1] then //CAM up r = 0 g = 255 b = 0 elsif aADX<=aADX[1] and mMACD<mMACD[1] then //CAM PB r = 255 g = 215 b = 0 elsif aADX>=aADX[1] and mMACD<mMACD[1] then //CAM DN r = 255 g = 0 b = 0 elsif aADX<=aADX[1] and mMACD>mMACD[1] then //CAM CT r = 0 g = 0 b = 255 endif DRAWCANDLE(open,high,low,close) coloured(r,g,b) RETURN |
Share this
No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.
ProRealTime ITF files and other attachments :
Filename : download the ITF files
Find other exclusive trading pro-tools on 
PRC is also on YouTube, subscribe to our channel for exclusive content and tutorials
Thanks Nicolas. I read somewhere that in the calculation, we should round the value of the ADX to the nearest whole number. Light modification indeed…
aADX = round(adx[10])