This indicator uses MACD and RSI, to show buy and sell signals.
Signal Features:
Buy Signal: Chart gives a buy signal when the MACD crosses above.
Sell Signal: Chart gives a sell signal when the MACD crosses down.
Strong Buy Signal: Chart gives a strong buy signal when the MACD and RSI cross above.
Storng Sell Signal: Chart gives a strong sell signal when the MACD and RSI cross down.
Highligh Price Bars: This option is enabled by default, it shows the trend colored for easy understanding of the trend. Green bars mean the trend is going up, Red bars means the trend is going down and, the last one is purple bars they are means that unknown trend so you can understand for example if the purple bar has happened on the green trend you can understand the trend power slowly decrease.
You can set up an alarm for each signal type.
Best regards, BrandonJames1337
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Signal shapes now editable.
Some size adjustments on signal shapes.
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Default signal smooth settings changed to mid-term. (Old smooth setting is renamed as short term.) Recommended Short, Mid and Long term signal smoothing values added as tooltip.
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Default color update.
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Alert names changed.
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Code cleanup and more readability
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Updated default signal smoothing value
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Changelog:
Added a new input option called "Filter Signals by Support/Resistance" under the "Signal Settings" group. This option allows users to toggle the signal filter on or off based on the support and resistance lines.
Modified the plotshape functions for "Strong Buy", "Strong Sell", "Buy", and "Sell" signals to take the new signalFilter input into account. When the filter is enabled, the signals will only be displayed if the price is above the support line for buy signals and below the resistance line for sell signals. When the filter is disabled, all signals will be displayed regardless of their position relative to the support and resistance lines.
Implemented dynamic support and resistance levels based on the volume trend using the trail length and multiplier input values.
Added the trail support and resistance calculations to the script, which take into account the volume trend (OBV) to adjust the support and resistance levels.
Plotted the dynamic support and resistance levels based on the calculated trail support and resistance values.
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Exit signals added as take profit.
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removed unnecessary code
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bug fix on exit signals
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exit signals agility added, to see more exit signals less efficient you can lower the agility from settings
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Added alerts for exit signals
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exit signal defaul value updated and changeable from inputbox
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Improved
Refactored code for better readability and ease of maintenance.
Moved the decision logic for choosing the moving average from the security function for cleaner code.
Optimized computation of moving averages within the security() function, improving script performance.
Fixed
Resolved issues that occurred when switching between SMA and EMA during runtime.
Please always ensure to have the most recent version of this script for the best performance and the latest features. Feel free to provide feedback or report issues.
dear, this does not work. don't mislead the newbies. I did backtesting with additional oscillators and it still didn't work out. it's just like flipping a coin. I really tried to make it work, but no...unfortunately. there is no such indicator that predicts the price movement. I do not advise beginners to follow the signals of this indicator, otherwise you will lose everything.
BrandonJames1337
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@romacanada, I'm sorry for your misinformation. It's open source you can check the code what is happening. To summarize, it determines the upward or downward change points of the moving average using macd, it does not predict the future.
ndcsm
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well done buddy, great work! Keep it up and don't listen to negative comments, they probably haven't got a clue anyway!