My goal is to try to build indicators that give you signals in an easier and more visually appealing way than traditionally by looking if one line crosses another at the same time something else happens,... etc.
Of course these still only help to confirm other analysis. ;-)
If it may interest you, I've made another version of this exact same indicator, but plotted against the 200 ema line, I discovered that it can be seen as a kind of buffer against reversals. (especially when you put it in a longer timeframe like 3h)
I've also made an indicator based on either RSI or MFI (whatever you prefer) for exact entry signals and trend moves.
If you want to, you can check it out as well. :-)
@Duyck, Thanks for the link to the other indicators. I very much like the rsi/mfi mtf. On some instruments I am adding both rsi AND mfi and mostly its better to avoid trades where there is discordance between the two on the same TF.
Thanks and keep up the great work! Look forward to your updates!!!