Old Warrior Indicator - Comprehensive Guide

🏆 Motto:

"Trade like a warrior, conquer the markets with precision!"

📌 Overview

The Old Warrior indicator is a multi-moving-average-based tool designed to identify trend direction and potential buy/sell signals. It uses a combination of fast and slow moving averages with different price types to generate visual signals on the chart.

🔧 Indicator Settings

Input Parameters:

MA1 (Fast MA - Close Price)

Period: MA1Period (Default: 5)

Shift: MA1_Shift (Default: 0)

Method: MA1_Method (Default: 0 - SMA)

Price Type: MA1_Price_Type (Default: 0 - Close)

MA2 (Fast MA - Open Price)

Period: MA2Period (Default: 5)

Shift: MA2_Shift (Default: 0)

Method: MA2_Method (Default: 0 - SMA)

Price Type: MA2_Price_Type (Default: 1 - Open)

MA3 (Slow MA - Close Price)

Period: MA3Period (Default: 20)

Shift: MA3_Shift (Default: 0)

Method: MA3_Method (Default: 0 - SMA)

Price Type: MA3_Price_Type (Default: 0 - Close)

MA4 (Slow MA - Open Price)

Period: MA4Period (Default: 20)

Shift: MA4_Shift (Default: 0)

Method: MA4_Method (Default: 0 - SMA)

Price Type: MA4_Price_Type (Default: 1 - Open)

📊 How It Works

Indicator Logic:

Trend Identification:

Strong Uptrend (Green):

When MA1 MA2 and MA1 MA3

Weak Uptrend (Light Green):

When MA1 ≤ MA2 but MA1 MA3

Weak Downtrend (Pink):

When MA1 ≥ MA2 but MA1 MA3

Strong Downtrend (Dark Pink):

When MA1 MA2 and MA1 MA3

Momentum Arrows:

Up Arrow (LimeGreen): When MA1 is rising compared to the previous candle.

Down Arrow (DeepPink): When MA1 is falling compared to the previous candle.

Neutral Arrow (DarkGray): When MA1 remains unchanged.

🎯 Trading Strategy Suggestions

Buy Signal:

When the indicator shows Strong Uptrend (Green) + Up Arrow (LimeGreen).

Sell Signal:

When the indicator shows Strong Downtrend (Dark Pink) + Down Arrow (DeepPink).

Caution:

Weak trends (Light Green/Pink) suggest possible reversals or ranging markets.

🔍 Additional Notes

Works best on M15, H1, H4 timeframes.

Combine with support/resistance levels for better confirmation.

Avoid trading in choppy markets (use ATR or volatility filters).

📜 Developer & Source

Developer: R.KH 1001

Source: RoboMQL

🚀 Trade wisely, and may the markets be in your favor! 🚀