Script was first published 30 May 2021 on twitter by @lehlutz This script visualizes long, short and neutral phases of any asset class as follows: The differences A, B, C are formed from 3 moving averages (3-EMA exponential moving average, 20-SMA simple moving average and 50-SMA simple moving average) namely A: (3-EMA minus 20-SMA) B: (3-EMA minus 50-SMA) C: (20-SMA minus 50-SMA). Then the following rules apply to the traffic light (where ∂ means slope). green traffic light (bullish): (A>0,B>0,C>0), (A>0,B>0,∂C>0), (A>0,∂B>0,C>0) or (A>0,∂B>0,∂C>0, whereas ∂A>0) red traffic light (bearish): (A<0,B<0,C<0, whereas at least ∂A or ∂B or ∂C is <0) or (A<0,B<0,∂C<0 whereas ∂A and ∂B<0); yellow traffic light (neutral): all other
Indicator should not be considered as financial advice