The script is a "Confluence Indicator with Fibonacci" designed to work on the TradingView platform. This indicator combines multiple technical analysis strategies to generate buy and sell signals based on user-defined confluence criteria. Here's a breakdown of its features:
Confluence Criteria: Users can enable or disable various strategies like MACD, RSI, Bollinger Bands, Divergence, Fibonacci, and Moving Average. The number of strategies that need to align for a signal to be generated can be set by the user.
Strategies Included:
MACD Strategy: Uses the Moving Average Convergence Divergence method to identify buy/sell opportunities. RSI Strategy: Utilizes the Relative Strength Index to detect overbought or oversold conditions. Bollinger Bands Strategy: Incorporates Bollinger Bands to identify volatility and potential buy/sell signals. Divergence Strategy: A basic implementation that detects bullish and bearish divergences using the RSI. Fibonacci Strategy: Uses Fibonacci retracement levels to determine potential support and resistance levels. Moving Average Strategy: Employs a crossover system between the 50-period and 200-period simple moving averages. Additional Features:
Support & Resistance: Identifies major support and resistance levels from the last 50 bars. Pivot Points: Calculates pivot points to determine potential turning points. Stop Loss Levels: Automatically calculates and plots stop-loss levels for buy and sell signals. NYC Midnight Level: Option to display the New York City midnight price level. Visualization: Plots buy and sell signals on the chart with green and red markers respectively. Adequate Category: "Technical Analysis Indicators & Overlays" or "Strategy & Scripting Tools".
Note di rilascio
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The script is a "Confluence Indicator with Fibonacci" designed to work on the TradingView platform. This indicator combines multiple technical analysis strategies to generate buy and sell signals based on user-defined confluence criteria. Here's a breakdown of its features:
Confluence Criteria: Users can enable or disable various strategies like MACD, RSI, Bollinger Bands, Divergence, Fibonacci, and Moving Average. The number of strategies that need to align for a signal to be generated can be set by the user.
Strategies Included:
MACD Strategy: Uses the Moving Average Convergence Divergence method to identify buy/sell opportunities. RSI Strategy: Utilizes the Relative Strength Index to detect overbought or oversold conditions. Bollinger Bands Strategy: Incorporates Bollinger Bands to identify volatility and potential buy/sell signals. Divergence Strategy: A basic implementation that detects bullish and bearish divergences using the RSI. Fibonacci Strategy: Uses Fibonacci retracement levels to determine potential support and resistance levels. Moving Average Strategy: Employs a crossover system between the 50-period and 200-period simple moving averages. Additional Features:
Support & Resistance: Identifies major support and resistance levels from the last 50 bars. Pivot Points: Calculates pivot points to determine potential turning points. Stop Loss Levels: Automatically calculates and plots stop-loss levels for buy and sell signals. NYC Midnight Level: Option to display the New York City midnight price level. Visualization: Plots buy and sell signals on the chart with green and red markers respectively. Adequate Category: "Technical Analysis Indicators & Overlays" or "Strategy & Scripting Tools".
Note di rilascio
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Removing from the UI some flashy indicators, but you still can enable them in the settings