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This indicator displays elements of the trading system described by Alexander Elder.
This indicator uses the idea of opening sell deals in the period of MACD (or OsMA) falling below zero and opening buy deals when the indicator values rise above zero, in case this fall or rise coincide with the Moving Average direction.
The thick and thin histograms correspond to the values of MACD and OsMA.
If a histogram is above 0, the indicator value is greater than 0. If it is below, the indicator value is less than 0.
As an additional element, it shows the direction of the moving average, comparing its current value with the past value, and displaying this information as the position of a one-color line relative to zero.
trades should be opened when the price goes beyond the high or low of the bar, on which the MACD or OsMA histograms are heading in the same direction with the one-color line denoting the Moving Average direction.
