racer8

Monster Breakout Index

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This is the coolest indicator I have ever made to date so far.

The Monster Breakout Index is a completely original idea that I came up with.
MBI is a breakout indicator with one parameter. MBI lives up to its name because of how robust the index is. It gives very little signals, which means that the signals that it does generate are very high quality.

How to Interpret:
Green - Buy
Red - Sell

Would you like to know how this indicator works?
Of course you do! Well here it is...(in steps):

1) Calculate the median price ( hl2 price) of each bar over n periods (n is the parameter).
2) Is the current bar's close higher than the highest median? Yes = Buy signal , No = proceed to step 3
3) Is the current bar's close lower than the lowest median? Yes = Sell signal , No = No signal


Recommended setting: 12

If you found this indicator, good job because its a true force to reckon with, its what I would call.....a monster.

Good luck traders, and hit the like button!




Notas de Lançamento: Added short title "MBI" & renamed setting to "Period".
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Comentários

Hey guys, I just updated the indicator. I'm sort of running out of ideas for indicators now...let me know if you have any ideas and I'll make them come to life! (Talk to me in the Private Chats)
Resposta
Well done
Resposta
racer8 NicoleLomazowLowe
@NicoleLomazowLowe, Thank you.
Resposta
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