OPEN-SOURCE SCRIPT
Momentum spotter(FogWalkerTrader)
This a trend following indicator using simple moving averages and price close,high and low of recent candles to plot a buy or sell signal.
IMPORTANT - this indicator does not repaint.Traders need to wait untill the the closing of the candle though as the signal is dependant of the close of the period.
Buy Signal: Price closes above the 20, 50, and 200 simple moving averages (SMAs), with the 50 SMA above the 200 SMA, indicating a strong uptrend. The last 4 prices had their lows below the 5 SMA and highs above it.Plus, the current close is higher than the high from 4 periods ago, further suggesting a bullish move.
BUY = blue labelup plotted below candlestick
Sell Signal: Price closes below the 20, 50, and 200 SMAs, with the 50 SMA below the 200 SMA, signaling a strong downtrend. The last 4 prices had their highs above the 5 SMA and lows below it Plus, the current close is lower than the low from 4 periods ago, further suggesting a bearish move.
SELL = red labeldown plotted above candlestick.
IMPORTANT
It’s important to note that, like any trading tool, this isn't foolproof. The market can be unpredictable, leading to false signals. The logic behind these signals is sound, but due to the complexity and volatility of the market, there are times when the signals may not lead to the expected outcome. It's a useful tool, but it's wise to use it alongside other analyses to make more informed decisions.
IMPORTANT - this indicator does not repaint.Traders need to wait untill the the closing of the candle though as the signal is dependant of the close of the period.
Buy Signal: Price closes above the 20, 50, and 200 simple moving averages (SMAs), with the 50 SMA above the 200 SMA, indicating a strong uptrend. The last 4 prices had their lows below the 5 SMA and highs above it.Plus, the current close is higher than the high from 4 periods ago, further suggesting a bullish move.
BUY = blue labelup plotted below candlestick
Sell Signal: Price closes below the 20, 50, and 200 SMAs, with the 50 SMA below the 200 SMA, signaling a strong downtrend. The last 4 prices had their highs above the 5 SMA and lows below it Plus, the current close is lower than the low from 4 periods ago, further suggesting a bearish move.
SELL = red labeldown plotted above candlestick.
IMPORTANT
It’s important to note that, like any trading tool, this isn't foolproof. The market can be unpredictable, leading to false signals. The logic behind these signals is sound, but due to the complexity and volatility of the market, there are times when the signals may not lead to the expected outcome. It's a useful tool, but it's wise to use it alongside other analyses to make more informed decisions.
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。