The well-known ‘SwingIndicator’
Part of the standard ‘tool box’ for many traders the world round. And it’s finally here for MotiveWave !
It allows for lots of novel trading techniques. For instance: drop 2 different SwingIndicators on a chart, one with a smaller SwingStrength and one with a larger SwingStrength (in the screenshot below 5 and 50, respectively). Each break of the higher level swings is a possible entry, while the smaller levels can be used for StopLoss & TakeProfit levels, or for trailing.
To make life even easier for you, we added the possibility to have the SwingIndicator fire off signals, so you know when to check a chart and step on board of the momentum-train.
Green pips all around !
Bar Coloring by MA’s – enhanced by VB6
A few traders contacted us and asked if we could slightly alter the behavior of MW’s standard ‘bar coloring’ feature.
Instead of coloring the bars according to the slope of the MA (that is the standard MW behavior), they wanted the bar’s closing price to determine the bar’s color.
So VB6’s advanced “ColoredBars for MA’s” does exactly this: the slope of a MA no longer decides whether a bar is colored, but the close above / below does.
In the screenshot below you can clearly see the difference between ‘normal MW’ behavior (on the left) and our Study’s behavior.
Tiny code does makes for BIG changes sometimes 🙂
Of course you can still change the input (choose from open, high, low, close, Midpoint, Typical Price and Weighted Price) and the MA method, as well as the Period and shift:
Full disclosure: does NOT send signals, because this was not in the original coding request. But vb6 could obviously code this for you, should you want it 🙂 )
HMA’s Bar Coloring
Similar to the “ColoredBars for MA’s”, we coded the same for the Hull Moving Average (or HMA, for short).
This truly is a ‘next level’ Moving Average, since it uses several moving averages to calculate the HMA, so we had to separate it from the standard “ColoredBars for MA’s” package.
Full disclosure: does NOT send signals, because this was not in the original coding request. But vb6 could obviously code this for you, should you want it 🙂 )