- Customizable Parameters: Users can define the number of consecutive higher and lower closings needed to generate buy and sell signals, providing a tailored approach to trading.
- Clear Buy and Sell Signals: The indicator plots clear buy and sell signals directly on the chart, making it easy for traders to identify potential entry and exit points.
- Consecutive Higher Closings (Buy Signal): When the current closing price is higher than the previous closing price for the specified number of consecutive periods (as defined by the user), a buy signal will be generated.
- Consecutive Lower Closings (Sell Signal): When the current closing price is lower than the previous closing price for the specified number of consecutive periods (as defined by the user), a sell signal will be generated.
How to Use:
- Apply the Consecutive Higher/Lower Closings indicator to your chart.
- Adjust the input parameters, consecutiveHigherClosings and consecutiveLowerClosings, to match your preferred trading strategy. These parameters determine the number of consecutive higher and lower closings needed to trigger signals.
- Interpret the buy and sell signals generated by the indicator. When a buy signal is displayed (green triangle up), it suggests a potential entry point. Conversely, a sell signal (red triangle down) indicates a potential exit point.
- This indicator is designed to assist traders in making informed decisions, but it should be used in conjunction with other technical analysis tools and risk management strategies for a comprehensive trading approach.
- Kindly be aware that this strategy is most effective with Monster stocks with smooth price action, particularly when analyzing in weekly and/or daily timeframe.
Trading involves risk, and past performance does not guarantee future results. Always conduct thorough research and consider your risk tolerance before making trading decisions.
- Consecutive Higher/Lower Values: Users can now specify the number of consecutive higher or lower values to trigger buy or sell signals.
- Value Type Selection: Choose the price type for analysis - Open, High, Low, or Close - using user-friendly checkboxes.
- Include Open in Analysis
- Include High in Analysis
- Include Low in Analysis
- Include Close in Analysis
Dentro do verdadeiro espírito TradingView, o autor deste script publicou ele como um script de código aberto, para que os traders possam compreender e checar ele. Um viva ao autor! Você pode usá-lo gratuitamente, mas a reutilização deste código em uma publicação é regida pelas Regras da Casa. Você pode favoritá-lo para usá-lo em um gráfico.
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