Hi
I made a new indicator from scratch and nothing was copied from any existing indicator.If you ever read the source code , you would be amazed.The indicator was coded from scratch and it is completely new and different from anything you have ever seen.It is called the oilfxpro Market strength Index (M S I).The indicator uses a combination of 17 different indications/rules/price action to arrive at market strength.
On some occasions the indicator will show market strength before the price moves.
The OILFXPRO M S I does the work of several indicators put together .This combining reduces false signals dramatically..These include RSI,ADX,SUPERTREND,STOCHASTIC,MACD,CCI,SUPPORT AND RESISTANCE,BULLS POWER ,BEARS POWER,MOVING AVERAGES, MOMENTUM and price action.It also has a manual to include fundamental bias , that is interest rate movements and weakening/strengthening economies and economic data.
The M S I indicator comes in 3 versions ,the most sensitive being the SCALPER.MSI FUN includes fundamental settings, M S I scalper is sensitive to price and M S I is inbetween scalper and Fundamental
1) MSI SCALPER
2) MSI
3) MSI FUN
An image is attached.The indicators are easy to read.During an uptrend the indicators will remain around the top level of 50 and in down trend they remain around -50.A move of around 30 points in either direction is a sign of strength or weakness.Trend lines can easily be drawn on the indicators
We are still working on the M S I settings.
oilfxpro
