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Postby Robert2617 » Sat Feb 24, 2007 5:04 pm

{=== _Ward's_EMA_Power =====================}

{This indicator is used help you decide
whether to take a trade or get out of a
trade. It uses EMA cross overs to color
the radar screen cells green, yellow or
red depending on which direction the
"signal EMA" (XAverage1) is moving.

This is basically a RadarScreen Indicator
for a "ribbon" of EMAs.

By default, the cells will light up in
order letting you know how "strong" or
"weak" the trade indication.

Also, this indicator gives signals letting
you know if the EMA is rising (+), falling
(-) or the same as last bar (=).

Remember, trading is risky so use this
indicator at your own risk! I hope this
helps make your trading a little more fun.}

{Note: Make sure you load at least enough
additional bars of data for the longest
EMA that you use!}

Below I have attached a couple of screenshots. One shows what the EMAs "see" on a chart and the other is to illistrate that you could still have a clean chart if you wanted to or use some other indicator along with this one.

In the images, I have two instances of the indicator loaded in the same RadarScreen. The settings on the first instance are 4,6,8,10,12,14,16 and on the second 4,18,20,22,24,26,28. I also have loaded 200 additional bars of data. Signals happen when the 4 EMA crosses over or touches any of the other EMAs.

You don't have to use two instances of this indicator for it to work properly. The defaults are setup for 1. Some people don't want to use up 2 indicators worth of valuable desktop real estate.

(13.56 KiB) Downloaded 65 times
emapower.gif (52.96 KiB) Viewed 617 times
emapower2.gif (43.31 KiB) Viewed 617 times

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