Michael Proffe ist a german trend follower who uses 4 indicators (macd, momentum, williams percent and rsi) to detect the bear and bull phase from a stock.
the settings are a secret from michael proffe. i thougt about the indicator and created my own one with all 4 indicator to one signal. bull or bear phase.
only use it on daily chart time frame.
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c1 = MACDline[12,26,9](close) c2 = RSI[70](close) c3 = Momentum[60](close) c4 = Williams[70](close) if c1 >= 0 then result = 1 else result = 0 endif if c2 >= 50 then result1 = 1 else result1 = 0 endif if c3 >= 0 then result2 = 1 else result2 = 0 endif if c4 >= -50 then result3 = 1 else result3 = 0 endif c5 = (result + result1 + result2 + result3)/4 c6 = average[5](c5) if c6 > 0.49 then result4 = 1 else result4 = -1 endif return result4,0 |
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Very interesting indicator. Thanks for contributing it. What volume node or volume profile indicator are you using in the chart?