This indicatror shows 10 & 20 days previous highest high and lowest low.
10 day highest high- blue line
20 day highest high - green line
10 day lowest low- red line
20 day lowest day- Orange line
This is a variation of MACD popularised by Linda Bradford Raschke. Instead of the regular MACD settings, the this indicator uses simple moving averages, not exponential moving averages, and a setting of 3 for the fast MA, 10 for the slow MA and 16 for the signal line.
The signal line (red) acts as a trend indicator, with crossings of the zero line indicating...