Waddah Attar Explosion is a very powerful trend indicator built upon a special combination of MACD and Bollinger Bands (it just uses the Standard Deviation actually). The original indicator was developed for MetaTrader 15+ years ago by a great trader/coder named Waddah Attar.
With so many valuable components and signals, Waddah Attar Explosion is almost a complete trend trading system (just like Superior Ichimoku). It recognizes price explosions, trend phrases, trend strengthening, and slowdowns with a high degree of accuracy - ALL in just one indicator.
Just like any other indicators we have made, ninZa.co pushed the original indicator concept to the next level by adding a whole lot of our own enhancements. All of these premium improvements make Waddah Attar Explosion Pro become one of the indicators that provide the best trend signals that we have ever seen.
Even though our indicator has automatically interpreted the plots to generate meaningful signals, it's still worth introducing them.
- Explosion line: This plot helps identify price explosion, which starts when the plot rises significantly after a period of low values. However, it does not tell the direction of the price explosion, which is the task of MACD Diff Bullish/Bearish plots.
- MACD Diff Bullish/Bearish plots: These plots are displayed as histograms to help identify trend phases and trend strength. A series of increasing histogram bars means the current trend is strengthening, while decreasing bars indicate the weakness of the trend.
- Dead Zone plot: This plot defines the upper bound of the dead zone, which filters out unreliable trend-strengthening signals. As its name indicates, this is a no-go area.
Dedicated NinjaScript signals:
- Signal_Trend: 1 = uptrend, -1 = downtrend
- Signal_Trade: 1 = uptrend start, 2 = uptrend strengthening, -3 = uptrend slowdown, -1 = downtrend start, -2 = downtrend strengthening, 3 = downtrend slowdown
- Signal_Explosion: 1 = rising, -1 = falling
- Signal_MacdDiffBullish: 1 = below explosion, 2 = above explosion falling, 3 = above explosion rising
- Signal_MacdDiffBearish: 1 = below explosion, 2 = above explosion falling, 3 = above explosion rising
- 01 Dec 2022 - The indicator was released (build new).
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