[HuD] WMA Fast Band

This personal Indicator was designed for the uncertain market of Bursa Malaysia where traders can only open positions for Buy.
The objective is to trade in fast mode, Fast In Fast Out ( FIFO ) especially when during bearish market.

It is based on Weighted Moving Average and the formula are as followed :
Short WMA = ( wma5 High + wma5 Low ) / 2
Long WMA = ( wma10 High + wma10 Low ) / 2

These Short WMA and Long WMA create a band ( green or red )
Green band appears when Short WMA > Long WMA and vice versa.

1. Green triangle
- appear when it meets all these three criteria
i. Short WMA crossover Long WMA
ii. Price is above ema50
iii. Price is below Top BB ( Bollinger Band )

- when a green triangle appears, traders can choose either to make a "BUY" entry at this point or wait for the next candle
- this green triangle is an early entry signal

2. Red triangle
- appear when Long WMA crossover Short WMA
- this is considered a final exit point for traders.

3. Orange dot
- appear when the price close below grey line. This means it break the previous lowest 3 candles
- when orange dot appears, traders can either exit or wait for red triangle for exit confirmation.

4. Grey Line
- is the lowest low price of the previous 3 candles ( default value is 3. Value can be adjusted )

5. Green Line / Level
- is the highest price level of the previous 5 candles.
- Trader can use this line as take profit (TP ) level depending on "taste" or "appetite"

6. Table Info
- consist of RSI value ( default 14 ), 52Week High Value, Volume , and Transaction Value in RM ( volume * current price )

7. Small Blue dot = Mid BB = SMA 20

8. Purple Line = EMA 50

Happy Trading 😎

Informacje o Wersji:

Adjustment to rule when green triangle appears:

1. Green triangle
- appear when it meets all these three criteria
i. Short WMA crossover Long WMA ( Golden Cross )
ii. Price is above ema50 or Price Crossover MidBB
iii. Price is below Top BB ( Bollinger Band )

Happy Trading 😎