ITG Scalper

ITG Scalper by Complector.

Inspired by Juboal-Rabaroansa Perosteck Alseyn Balveda dam T'seif

- I am using a TEMA ( triple EMA ) to determine the local trend direction and to give buy & sell signals when the trend changes.
- An optional filter, using moving average convergence divergence ( MACD ), can be switched on to filter out 'false' signals.
- The calculation of the TEMA does not request data from a resolution higher or lower than the resolution of the main charts symbol,
However, the filter function does, if another resolution is chosen for the filter.
- Persistent variables are used for buy and sell prices, enabling color-coding of the sell-signal (profitable or not).

- Color coded TEMA - bullish=green , bearish=red
- Buy/Sell indicator - Sell indicator: green=profit, yellow=loss
- Optional noise filter
- Optional variable time-frame for noise filter

In my experience, the default values works best on the daily time frame. I encourage everyone to experiment with the values for best results.
Using the script on non-standard charts (Heikin Ashi, Renko etc.) can produce unrealistic results.
Using a resolution higher or lower than the main charts symbol for the filter can possibly lead to repainting.

Thanks to Iain M. Banks for making my life richer :-)
Note di rilascio: - Added a function for displaying percental change of price since last buy/sell.
- Cleaned up the code and added some remarks.
Note di rilascio: - Buy/Sell signal is only given on bar close.
- Changed Buy/Sell signals from text to colored up/down triangles.
Note di rilascio: - The percent label change color depending on negative or positive value.
- Selectable use of a) labels w/price (max 50 visible) or b) plotshapes, for buy/sell signals.
- Modified the name of the script.
- Some cleanup of remarks.
Script open-source

Nello spirito di condivisione promosso da TradingView, l'autore (al quale vanno i nostri ringraziamenti) ha deciso di pubblicare questo script in modalità open-source, così che chiunque possa comprenderlo e testarlo. Puoi utilizzarlo gratuitamente, ma il riutilizzo del codice è subordinato al rispetto del Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.

Vuoi usare questo script sui tuoi grafici?


Do u happen to have a thinkscript version of this please ??
When I try to apply it get a message like "this indicator cannot be applied to another indicator"
Hi, Can you please help me how to use this indicator. I am new to this and not sure what is the buy level and target levels.
I really appreciate your work.
Complector ssvsraja
@ssvsraja, The indicator gives a buy or sell signal based on the local trend (up or down). If the local trend changes from bullish to bearish it will give a sell signal and if the local trend changes from bearish to bullish it will give a buy signal. The indicator detects the trend change based on a triple EMA. Buy or sell levels (price) is shown when selecting labels (instead of plotshape) in the settings for the indicator. Target levels are not implemented.
ssvsraja Complector
@Complector, Thank you for your response. Can I use this for indian equity stocks
This script is for crypto ar stocks?
Complector Ciprian24
@Ciprian24, It will work on both.
Thanks for this script. Can you please tell me how to backtest this in paper trading mode ?
Complector Zeeshann
@Zeeshann, Sorry for late answer. I think you have to re-write the script, making it a strategy instead of a study, and use the strategy tester in Tradingview. Read up on pine script in the manual:
@line 100 you have an #alertcondition, will you get a notification or how does the alert work?
+good code
Home Screener azioni Screener forex Screener cripto Calendario economico Su di noi Caratteristiche Grafico Costi Invita un amico Regolamento Centro di supporto Soluzioni per broker & siti web Widget Librerie grafiche Libreria grafica leggera Blog & Novità Twitter