Two-Moving-Average Crossover Signals Filtered by Candle Direction
Summary
This indicator generates arrows when a fast moving average crosses a slower one, then filters the crossover using the current candle's direction. An upward cross accompanied by a bullish candle marks a buy signal; a downward cross accompanied by a bearish candle marks a sell signal. The description presents the method as a two-moving-average signal indicator, but does not specify the averaging periods or provide rules for managing trades after a signal.
The text says the indicator was first implemented in MQL4 and published in 2008. It offers no backtest, market context, or evidence that the candle filter improves results. Moving-average crossovers can lag price changes, and the description does not discuss false signals, risk controls, or transaction costs, so it is best understood as a basic signal-generation concept rather than a tested strategy.
Key ideas
- A fast and slow moving average generate signals when they cross.
- The current candle's direction filters crossover signals.
- An upward cross with a bullish candle indicates a buy, while a downward cross with a bearish candle indicates a sell.
- The description supplies no performance evidence, averaging periods, or trade-management rules.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.