This indicator displays elements of the trading system described by Alexander Elder. This indicator uses the idea of opening sell deals in the period of MACD (or OsMA) falling below zero and opening buy deals when the indicator values rise above zero, in case this fall or rise coincide with the Moving Average direction. The thick and thin histograms correspond to the values of MACD and OsMA. If a histogram is above 0, the indicator value is greater than 0. If it is below, the indicator value is less than 0. As an additional element, it shows the direction of the moving average, comparing its current value with the past value, and displaying this information as the position of a one-color histogram relative to zero. Trades should be opened when the price goes beyond the high or low of the bar, on which the MACD or OsMA histograms are heading in the same direction with the one-color histogram denoting the Moving Average direction.

Settings

• MA0_Period (>0) - Moving Average period for displaying the difference with the current average price;
• MA1_Period (>MA2_Period) - slow MA period for MACD calculation;
• MA2_Period (>0) - fast MA period for MACD calculation;
• OsMA_Period (>0) - signal MA period for MACD calculation;
• MA0_Shift (>-1) - MA shift to display difference with the current value;
• MA1_Shift (>-1) - fast MA shift relative to the slow one for MACD calculation;
• MA0_Method - MA smoothing method to display the difference with the current average price;
• MA1_Method - slow MA smoothing method for MACD calculation;
• MA2_Method - fast MA smoothing method for MACD calculation;
• OsMA_Method - signal MA smoothing method for MACD calculation;
• MA0_Price - price used for moving average calculation to display the difference with the current average price;
• MA1_Price - price used for the slow MA for the MACD calculation;
• MA2_Price - price used for the fast MA for the MACD calculation.

Feedback and suggestions are welcome.