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3-10 Oscillator for Metastock
There are two lines on the 3/10 macd; one indicates the difference between two moving averages (3- & 10-period), known as the “Fast Line” (also represented by the histogram) and one which indicates a moving average of that difference (a 16-period moving average of the 3- & 10-period differential) known as the “Slow Line”. Think of it this way:
Slow Line = an intermediate-term trend indication
Fast Line = short-term trend indication.
(as an aside; a Long-term trend indication can be a reasonably reliable Moving Average, like the 50-period, or a 20- & 50-period Moving Average that takes into account the orientation and slope of the two MA’s (20- above 50-period and Up is bullish).
So, the 3/10 MACD provides 2 layers of price; one which directly reflects price (the Fast Line), and one which is slightly removed from price, being that it’s a moving average of the difference between two moving averages (the Slow Line).
The above concepts are slightly less important than the one to follow regarding time frame layers.
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