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FXS-TREND OSCILLATOR
Doug Schaff
FX-Strategy
| Name: | FXS-DMI | |
| Characteristic: | Trend Direction | |
| Parameter Defaults: | Length | 14 |
| Trend Level | 25 | |
| Plots: | ADX | |
| DMI+ | ||
| DMI- | ||
FXS-Trend Oscillator is a price direction indicator. It produces one line that broadly indicates whether price is rising or falling.
Usage
The above chart shows the same price action in CHFJPY. The Swing High and Swing Low indicators (strength of 3) have been applied to the Trend Oscillator. Only when the Trend Oscillator penetrates the previous Swing High will any buy signals be traded and only when the Trend Oscillator penetrates a Swing Low will a sell signal be traded. The result filters the signals to avoid some of the minor whipsaws.
This is by no means the only filter that could be applied, but does point the way in which indicators may be used in an integrated manner to provide more powerful signals.
