OPEN-SOURCE SCRIPT
Atualizado Smoothed Triangle Basis TP Bollinger Bands
Modified Bollinger Bands valuation indicator that excels at identifying take profit levels without losing strength as price crushes ATHs.
Useful as addition for long-only trend-following systems to identify overbought zones and secure more profits without having to "wait for a downtrend".
Uses a TMA (double SMA) for the Bollinger Bands basis, and then applies a DEMA to the entire plot to smooth it out.
TMA allows it to not lose strength while price continues going higher in an uptrend. This is a common issue with normal valuation indicators like an RSI or a MFI. "Bearish divergence".
DEMA allows the user to customise the plot to have less noise. Making the signals more conclusive.
Example levels are given in red, orange, yellow. Could use those for TP % zones (20, 15, 10 for example).
Useful as addition for long-only trend-following systems to identify overbought zones and secure more profits without having to "wait for a downtrend".
Uses a TMA (double SMA) for the Bollinger Bands basis, and then applies a DEMA to the entire plot to smooth it out.
TMA allows it to not lose strength while price continues going higher in an uptrend. This is a common issue with normal valuation indicators like an RSI or a MFI. "Bearish divergence".
DEMA allows the user to customise the plot to have less noise. Making the signals more conclusive.
Example levels are given in red, orange, yellow. Could use those for TP % zones (20, 15, 10 for example).
Notas de Lançamento
Added visualisation for bearish RSI divergence and loss of strengthScript de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Aviso legal
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Aviso legal
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.