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Jeff Kennedy of Elliott Wave International uses an indicator he calls a MOAD. It is simply the sum of Larry Williams' Accumulation/Distribution indicator and a 40 period momentum indicator. Hence the name MOAD - momentum plus accumulation/distribution.
This is graphed in a separate panel below the price bar chart.
He then applies a 10 period simple moving average and a 30 period simple moving average to the MOAD.
If anyone out there knows how to make a composite of these two indicators to create a MOAD for use in esignal - and then apply two simple moving averages (10 and 30 period) to the MOAD -- it would be much appreciated. This is a very effective tool for analysing trends and identifying high probability trade set ups.
This is graphed in a separate panel below the price bar chart.
He then applies a 10 period simple moving average and a 30 period simple moving average to the MOAD.
If anyone out there knows how to make a composite of these two indicators to create a MOAD for use in esignal - and then apply two simple moving averages (10 and 30 period) to the MOAD -- it would be much appreciated. This is a very effective tool for analysing trends and identifying high probability trade set ups.