This script is based on moving average crossing lines (mirrored) with a signal line.
--- WHAT IS DIFFERENT FROM OTHER MA SCRIPTS ---
It's different in the formula for calculating the moving averages. Furthermore the length of the moving averages is deliberately not modifiable by user to avoid confusion in the beginner.
--- WHAT IS IT FOR? ---
It's a trend following script. I needed a script to catch signals for medium term trading (5-20 days) on > H4 TF with smooth lines but pretty quick signal, possibly easy to manage and "plug and play" for Forex market.
--- HOW TO USE IT? ---
Simply you have buy or sell signal looking at crossing lines. Signal line could be used to catch retracements.
--- WHERE SHOULD I USE IT? ---
At the moment I tested it only on Forex market with good results on H4 timeframe. Backtest it by yourself before using it.
Hope I can help someone else to have better trading time. Feel free to comment if you have questions.
Hi, The study is interesting. Would you mind sharing the source code of the study. I would like to understand the study and check it to see if alerts can be generated in a different system. Thanks.
Hi C00l75, would you like to improve your indicators? I have a discord channel where actuve tradingview pinescript devs are active and sharing their ideas the group also includes verifid, jdehorty, wolf, ethos to name a few that are working on non repainting and tradingbot algos with tedious backtesting. If you are intesrested, message me here. I would like to invite you there with us.
c00l75
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13.03.2023 I added possibility to change values according your wishes!