MBO indicator is the third component of TFS trading system. This indicator
was developed by Bryan Strain and Mark Whitley.
The idea of MBO is similar to moving average convergence/divergence (MACD)
indicator. It is calculated by subtracting the 200-day moving average from
the 25-day moving average.
was developed by Bryan Strain and Mark Whitley.
The idea of MBO is similar to moving average convergence/divergence (MACD)
indicator. It is calculated by subtracting the 200-day moving average from
the 25-day moving average.
//////////////////////////////////////////////////////////// // Copyright by HPotter v1.0 09/07/2014 // MBO indicator is the third component of TFS trading system. This indicator // was developed by Bryan Strain and Mark Whitley. // The idea of MBO is similar to moving average convergence/divergence (MACD) // indicator. It is calculated by subtracting the 200-day moving average from // the 25-day moving average. //////////////////////////////////////////////////////////// study(title="TFS: MBO indicator", shorttitle="TFS: MBO indicator") Fastavg = input(25, minval=1) Slowavg = input(200, minval=1) hline(0, color=blue, linestyle=line) xFastAvg = sma(close, Fastavg) xSlowAvg = sma(close, Slowavg) nMBO = xFastAvg - xSlowAvg plot(nMBO, color=red, style = histogram, title="TFS: MBO indicator")