PROTECTED SOURCE SCRIPT
Larsson Line CLONE with BULL/BEAR Notices
Larsson Line CLONE
This script is a trend-following indicator that uses two Smoothed Moving Averages (SMMA) to identify bullish, bearish, and neutral market conditions.
How It Works
The indicator plots two SMMAs:
- A fast line (15-period SMMA)
- A slow line (29-period SMMA)
The trend direction is determined by comparing these two lines:
- When the 15-period SMMA is above the 29-period SMMA, the trend is bullish (shown in yellow).
- When the 15-period SMMA is below the 29-period SMMA, the trend is bearish (shown in blue).
- When the lines are crossing or equal, the trend is neutral (gray).
The area between the two SMMAs is also filled with the corresponding color, providing visual clarity.
How to Use
Use the color changes to identify trend direction and potential entry/exit signals:
- Bullish entry: When the trend turns yellow from blue/gray.
- Bearish entry: When the trend turns blue from yellow/gray.
- Exit signal: When the color changes against your position.
It is most effective when used with:
- Volume analysis
- Candlestick confirmation
- RSI/Stochastics for overbought/oversold filters
- Higher timeframes for multi-timeframe confirmation
Note: This indicator is based entirely on SMMA crossover logic, and does not repaint. It is most useful in trending markets.
This script is a trend-following indicator that uses two Smoothed Moving Averages (SMMA) to identify bullish, bearish, and neutral market conditions.
How It Works
The indicator plots two SMMAs:
- A fast line (15-period SMMA)
- A slow line (29-period SMMA)
The trend direction is determined by comparing these two lines:
- When the 15-period SMMA is above the 29-period SMMA, the trend is bullish (shown in yellow).
- When the 15-period SMMA is below the 29-period SMMA, the trend is bearish (shown in blue).
- When the lines are crossing or equal, the trend is neutral (gray).
The area between the two SMMAs is also filled with the corresponding color, providing visual clarity.
How to Use
Use the color changes to identify trend direction and potential entry/exit signals:
- Bullish entry: When the trend turns yellow from blue/gray.
- Bearish entry: When the trend turns blue from yellow/gray.
- Exit signal: When the color changes against your position.
It is most effective when used with:
- Volume analysis
- Candlestick confirmation
- RSI/Stochastics for overbought/oversold filters
- Higher timeframes for multi-timeframe confirmation
Note: This indicator is based entirely on SMMA crossover logic, and does not repaint. It is most useful in trending markets.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.