The best trading strategies utilize multiple indicators, not just one. This TradeStation indicator does that job for you, by combining Stochastics, MACD, Moving Averages, Momentum, CCI, and RSI - all in one indicator! Each row of dots represents one of these indicators. The dots change color based on whether the respective indicator shows a bullish or bearish signal, and whether the strength of the trend is increasing or decreasing.
This indicator can be used to enter trades (e.g. buy when all dots are green), or to exit trades (e.g. sell when three of the dots turn red). It can also be used to filter out trades that are not in the direction of the overall trend, and to avoid trading choppy markets when there is no clear trend. This can also be used with RadarScreen.
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