Hi Ninjatrader Fam,
Awhile ago I asked about how to make an oscillator with max/min or high/low (in other words) level that self-adjust according to market conditions. For example, if you want to fade over-extended MACD moves, the indicator limits you to fixed horizontal lines, like at +1 and -1.
To make self-adjusting max/mins, open two EMAs with lengths 25. For one EMA input, use the MAX indicator with a length of 10. Do the same with the other EMA using the MIN indicator. For both the MAX and MIN, set their inputs as the oscillator to which you want to add the self-adjusting high/lows. Set the EMAs to draw as Horizontal Lines, and there you go.
I suggest plotting the EMAs as Lines at first so you can visualize the decay rate of the max/min levels. Adjust the EMA and MAX/MIN lengths accordingly. It helps to measure the average bars between wave crests on your oscillator.
Cheers!
Matty
Awhile ago I asked about how to make an oscillator with max/min or high/low (in other words) level that self-adjust according to market conditions. For example, if you want to fade over-extended MACD moves, the indicator limits you to fixed horizontal lines, like at +1 and -1.
To make self-adjusting max/mins, open two EMAs with lengths 25. For one EMA input, use the MAX indicator with a length of 10. Do the same with the other EMA using the MIN indicator. For both the MAX and MIN, set their inputs as the oscillator to which you want to add the self-adjusting high/lows. Set the EMAs to draw as Horizontal Lines, and there you go.
I suggest plotting the EMAs as Lines at first so you can visualize the decay rate of the max/min levels. Adjust the EMA and MAX/MIN lengths accordingly. It helps to measure the average bars between wave crests on your oscillator.
Cheers!
Matty
