OPEN-SOURCE SCRIPT
3 McGinley Dynamic
I recently found out about McGinley dynamic and its capability to respond better to market's speed changes when compared with EMA. I was doing some tests on previous charts and I've noticed that according with the risk you want to take there are different intervals which can suits you. For example MG3 is very responsive, I've noticed that it's better if you want to enter long positions, on the other side is unreliable for shorting. Mg10 is instead the slower one but I've noticed is perfect for shorting and opposed to Mg3 tends to identify upper trends too late making the investor losing profit. I've introduced Mg7 to make comparison with the others, when you're uncertain between 3 and 10 you can compare them with the 7.
I encourage everyone to define its own strategy, I've just explained how I'm gonna use it. Do your tests before using it otherwise you could lose money.
I encourage everyone to define its own strategy, I've just explained how I'm gonna use it. Do your tests before using it otherwise you could lose money.
Open-source script
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