Using the ideas from "Consensio" system, by Tyler Jenks, this Indicator shows a Buy and sell values, with 3 levels using the position order of 3 smas: short, medium and large
There are 3 combinations indicating buy and 3 indicating sell:
Example: LSM (Long SMA Top, Then Short, Then Medium)
3 levels each. More level more power signal for buy or sell
The triangles on top of the indicator shows any cross of the 3 SMAs and the level of buy/sell signal of the combination
The hystogram shows a composed value, using the distance of each SMA to the close price of each bar and te result is multiplied by the actual combination order of the SMAs, positive values for Buy, negative for shell, using values from 1 to 3
The longer the SMA period, more weight has in the result value.
(These factors are editables)
My defaults: 50% using Long SMA 35% Using Medium SMA 15% Using Short SMA
Let me know if you encounter this as useful as me.
wow amazing indicator .. if you switch this to weekly .. you'll find 2 april 2018 this indicator turned level 3 however market reversed that week and indicator signaled from 3 back to level 2 on 23 april 2018.. so my conclusion is that this indicator and consensio in general behave like a sinewave and it do that incrementally ....meaning it goes from short term trend to intermediate and finally long term