Trend Confirmation - 3x EMA on OBV free

by o6h58zs in category Trend at 28/08/2022
Description

Note: if you are the owner of the original indicator and would like me to remove this port, please feel free to message me and I will be happy to do so.

This is a port of Lancelot_Augur (a.k.a. daichiyea)'s indicator (originally designed for Crypto pairs) to confirm trends in cTrader. All credit goes to the original author - the original indicator can be found here.

Since it uses exponential moving averages, it is a lagging indicator, and thus should not be used in attempts to predict reversals. However, I have found this technical to be very reliable at confirming trends and aiding trade set-ups.

Changelog:

- 28/08/2022: Removed unnecessary imports of directives and fixed OnBalanceVolume dependency.

 

 

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Formula / Source Code
Language: C#
Trading Platform: cAlgocTrader
using cAlgo.API;
using cAlgo.API.Indicators;

namespace cAlgo
{
    [Cloud("EMA3", "EMA26", FirstColor ="Green", Opacity = 0.6, SecondColor ="Red")]
    
    [Indicator(AccessRights = AccessRights.None)]
    public class TrendConfirmationTripleOBVOnBalanceVolume : Indicator
    {
        [Parameter("Source")]
        public DataSeries Source { get; set; }

        [Output("Main")]
        public IndicatorDataSeries Result { get; set; }
        
        [Output("EMA3", Color = Colors.Tomato, Thickness = 2)]
        public IndicatorDataSeries EMA3 { get; set; }
        
        [Output("EMA9", Color = Colors.Goldenrod, Thickness = 2)]
        public IndicatorDataSeries EMA9 { get; set; }
        
        [Output("EMA26", Color = Colors.White, Thickness = 2)]
        public IndicatorDataSeries EMA26 { get; set; }
        
        private OnBalanceVolume obv { get; set; }
        private ExponentialMovingAverage ema3 { get; set; }
        private ExponentialMovingAverage ema9 { get; set; }
        private ExponentialMovingAverage ema26 { get; set; }

        protected override void Initialize() 
        {
            obv = Indicators.OnBalanceVolume(Source);
            ema3 = Indicators.ExponentialMovingAverage(Result, 3);
            ema9 = Indicators.ExponentialMovingAverage(Result, 9);
            ema26 = Indicators.ExponentialMovingAverage(Result, 26);
            
        }

        public override void Calculate(int index) 
        {
            Result[index] = obv.Result[index];
            EMA3[index] = ema3.Result[index];
            EMA9[index] = ema9.Result[index];
            EMA26[index] = ema26.Result[index];
            
        }
    }
}
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