How to install the 21-50 Moving Average Bounce Indicator
What is it?
The “21-50 Moving Average Bounce Indicator” is a simple visual indicator that you can install as a “study” on TradeStation. This indicator is by no means necessary for TSL traders though it can be helpful for identifying the “21-50 Moving Average Line Qualification Rule.”
What does it do?
The “21-50 Moving Average Bounce Indicator” plots either green or red “histogram bars” depending on where the White 21-Day Moving Average Line is in relation to the Green 50-Day Moving Average Line.
The histogram bars plot GREEN when the White 21-Day Moving Average Line is ABOVE the Green 50-Day Moving Average Line.
The histogram bars plot RED when the White 21-Day Moving Average Line is BELOW the Green 50-Day Moving Average Line.
How do you install it?
Please note that WBI does not offer support for this indicator. We include it as a helpful resource. This indicator is neither necessary nor mandatory for the TSL trading method.
In order to install this indicator, you must have it downloaded to your computer.
Video Demonstation
Step 1
- From TradeStation select File -> Import/Export EasyLanguage
- Select the Import EasyLanguage File (ELD, ELS or ELA) wizard.
- Click Next.
Step 2
- Determine the file location to import. Click Browse or Scan to locate the indicator on your system.
- Click Next -> Next -> Finish
Step 3
- Right click on your chart -> Select Studies -> Add Studies
- Find The Indicator -> Select OK
- Repeat On Every Chart & Market