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OPEN-SOURCE SCRIPT

Investment Protector - A Rule of Thumb V1

Di sparkandhale
Aggiornato
The Flash Crash of September 8 showed once more how many are falling to greed. On top of it one also add leverage to long positions. It's just insane the risk people are taking. Anyhow, for all my noobies and friends here is a very very simple indicator that shows when NOT to buy nor increase positions and when there is window of opportunities.

A few remarks:
  • This script does NOT provide trading signals
  • Merely points out windows of opportunities - candles with green background. You still need to find the entry in this area yourself. Apply geomeric Technical Analysis, use indicators or divergences.
  • Windows of opportunities can still go south, use the stop-loss! (and check for bearish divergence)
  • The script urges you NOT to trade below ema200 of the 4h timeframe, which is marked with a red background (the most smooh timeframe there is).
  • Push yourself to take profits. It is marked with on the cancles to support you. Yes, it could always go higher, but try to avoid to be in a crash (and again, use a stop-loss at all time. You can make it a generous one if you want, fine. As long as you have one.).


TA speaking:

* The scripts uses EMA and RSI only.
* Bearish divergence will be added in V2.

disclaimer: yes, not financial advise. It's educational.
Note di rilascio
V1.0.1

  • Typos, extended usecase description/purpose.
Note di rilascio
  • Updated the rules on when to show the CONSIDER and DON'T TOUCH labels.
Note di rilascio
  • Improved the CONSIDER and DON'T TOUCH LABEL (will add divergence to it to filter it even better - e.g. not to touch it after a for a longer time after a bearish divergence)
  • the EMAs are now fixed to hourly. Use the hourly timeframe for best results.
Note di rilascio
  • Updated BTC chart to make it more clear how it works
nogreedopportunityRelative Strength Index (RSI)tpTrend Analysiswindowofopportunity

Script open-source

In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.

Vuoi usare questo script sui tuoi grafici?

sparkandhale
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