Description
Note: if you are the owner of the original indicator and would like me to remove this port, please feel free to message me and I will be happy to do so.
This is a port of Lancelot_Augur (a.k.a. daichiyea)'s indicator (originally designed for Crypto pairs) to confirm trends in cTrader. All credit goes to the original author - the original indicator can be found here.
Since it uses exponential moving averages, it is a lagging indicator, and thus should not be used in attempts to predict reversals. However, I have found this technical to be very reliable at confirming trends and aiding trade set-ups.
Changelog:
- 28/08/2022: Removed unnecessary imports of directives and fixed OnBalanceVolume dependency.
using cAlgo.API;
using cAlgo.API.Indicators;
namespace cAlgo
{
[Cloud("EMA3", "EMA26", FirstColor ="Green", Opacity = 0.6, SecondColor ="Red")]
[Indicator(AccessRights = AccessRights.None)]
public class TrendConfirmationTripleOBVOnBalanceVolume : Indicator
{
[Parameter("Source")]
public DataSeries Source { get; set; }
[Output("Main")]
public IndicatorDataSeries Result { get; set; }
[Output("EMA3", Color = Colors.Tomato, Thickness = 2)]
public IndicatorDataSeries EMA3 { get; set; }
[Output("EMA9", Color = Colors.Goldenrod, Thickness = 2)]
public IndicatorDataSeries EMA9 { get; set; }
[Output("EMA26", Color = Colors.White, Thickness = 2)]
public IndicatorDataSeries EMA26 { get; set; }
private OnBalanceVolume obv { get; set; }
private ExponentialMovingAverage ema3 { get; set; }
private ExponentialMovingAverage ema9 { get; set; }
private ExponentialMovingAverage ema26 { get; set; }
protected override void Initialize()
{
obv = Indicators.OnBalanceVolume(Source);
ema3 = Indicators.ExponentialMovingAverage(Result, 3);
ema9 = Indicators.ExponentialMovingAverage(Result, 9);
ema26 = Indicators.ExponentialMovingAverage(Result, 26);
}
public override void Calculate(int index)
{
Result[index] = obv.Result[index];
EMA3[index] = ema3.Result[index];
EMA9[index] = ema9.Result[index];
EMA26[index] = ema26.Result[index];
}
}
}
o6h58zs
Joined on 17.07.2022 Blocked
- Distribution: Free
- Language: C#
- Trading platform: cTrader Automate
- File name: Trend Confirmation - Triple OBV (On-Balance Volume).algo
- Rating: 5
- Installs: 1297
- Modified: 28/08/2022 13:13
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