I was wondering if you had an IntelliScript (for fxTrek) routine to help spot the Trend
Indicator swing points. I'm having a bit of trouble coding this up myself.
The script below will show when there are two higher highs after the S bar and when
there are two lower lows than the S bar.
IF ( High
< AddBuyEntry >
IF ( Low>Low[-1]ANDLow[-1]>Low[-2] ) THEN
< AddSellEntry >
See the EUR/USD daily chart below....
Even though it is possible to identify levels that have historically represent overbought and
oversold levels, MACD does not have any upper or lower limits. Overbought/oversold
happens when the shorter moving average dramatically pulls away from the longer moving
The way I measure overbought/oversold is to make a note or draw a horizontal line at the
highest point it has reached in the last 30 days and the lowest point it has reached in the last
30 days. If it reaches either of these points then you know you are at an extreme for the
most recent market conditions and the market is overbought/oversold.