Elder Impulse System
Add Elder Impulse System for price display. See Chapter 40 of The New Trading for a Living by Alexander Elder. This system uses different colors for price bars based on the possible combinations of EMA and MACD-Histogram. If EMA is rising and MACD-H is rising the price bar is green (bullish) and shorting is prohibited. If EMA is falling and MACD-H is falling the price bar is red (bearish) and buying is prohibited. If EMA is rising and MACD-H is falling the price bar is blue (neutral) and nothing is prohibited. If EMA is falling and MACD-H is rising the price bar is blue (neutral) and nothing is prohibited.
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David La Plant
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