The Exact Indicator

20 thg 10, 2024

Struggling to get in on a trade? Don't know where to take profits? This indicator might help - it only displays the Buy, Stop Loss and Take profit points when certain conditions are met.

The indicator combines a moving average crossover strategy with trend analysis to identify potential buy opportunities in the market. It utilises a short-term and long-term Simple Moving Average (SMA) to generate buy signals when the short-term SMA crosses above the long-term SMA. Additionally, it displays take profit and stop loss levels, along with a background colour indicating the overall trend strength.

Pros:
Clear Signals: Provides straightforward buy signals based on a well-known crossover strategy, making it easy for traders to identify entry points.
Visual Aids: The inclusion of take profit and stop loss levels, along with background trend colors, enhances decision-making and risk management.
Trend Awareness: The background colour changes based on trend strength, allowing traders to quickly assess market conditions.

Cons:
Lagging Indicator: Moving averages are inherently lagging, which can result in delayed signals, especially in volatile markets.
False Signals: Crossover strategies can produce false signals during sideways or choppy market conditions, leading to potential losses.
Limited Scope: The indicator focuses primarily on buy signals, potentially missing out on other trading opportunities (like short-selling) in a bearish market.

Overall, while this indicator can be a useful tool for identifying bullish trends and potential entry points, traders should use it in conjunction with other analysis methods and risk management strategies to mitigate its limitations.

22 thg 10, 2024

Phát hành các Ghi chú

Struggling to get in on a trade? Don't know where to take profits? This indicator might help - it only displays the Buy, Stop Loss and Take profit points when certain conditions are met.

The indicator combines a moving average crossover strategy with trend analysis to identify potential buy opportunities in the market. It utilises a short-term and long-term Simple Moving Average (SMA) to generate buy signals when the short-term SMA crosses above the long-term SMA. Additionally, it displays take profit and stop loss levels, along with a background colour indicating the overall trend strength.

Pros:
Clear Signals: Provides straightforward buy signals based on a well-known crossover strategy, making it easy for traders to identify entry points.
Visual Aids: The inclusion of take profit and stop loss levels, along with background trend colours, enhances decision-making and risk management.
Trend Awareness: The background colour changes based on trend strength, allowing traders to quickly assess market conditions.

Cons:
Lagging Indicator: Moving averages are inherently lagging, which can result in delayed signals, especially in volatile markets.
False Signals: Crossover strategies can produce false signals during sideways or choppy market conditions, leading to potential losses.
Limited Scope: The indicator focuses primarily on buy signals, missing out on other trading opportunities (like short-selling) in a bearish market.

Overall, while this indicator can be a useful tool for identifying bullish trends and potential entry points, traders should use it in conjunction with other analysis methods and risk management strategies to mitigate its limitations.

22 thg 10, 2024

Phát hành các Ghi chú

Struggling to get in on a trade? Don't know where to take profits? This indicator might help - it only displays the Buy, Stop Loss and Take profit points when certain conditions are met.

The indicator combines a moving average crossover strategy with trend analysis to identify potential buy opportunities in the market. It utilises a short-term and long-term Simple Moving Average (SMA) to generate buy signals when the short-term SMA crosses above the long-term SMA. Additionally, it displays take profit and stop loss levels, along with a background colour indicating the overall trend strength.

Pros:
Clear Signals: Provides straightforward buy signals based on a well-known crossover strategy, making it easy for traders to identify entry points.
Visual Aids: The inclusion of take profit and stop loss levels, along with background trend colours, enhances decision-making and risk management.
Trend Awareness: The background colour changes based on trend strength, allowing traders to quickly assess market conditions.

Cons:
Lagging Indicator: Moving averages are inherently lagging, which can result in delayed signals, especially in volatile markets.
False Signals: Crossover strategies can produce false signals during sideways or choppy market conditions, leading to potential losses.
Limited Scope: The indicator focuses primarily on buy signals, missing out on other trading opportunities (like short-selling) in a bearish market.

Overall, while this indicator can be a useful tool for identifying bullish trends and potential entry points, traders should use it in conjunction with other analysis methods and risk management strategies to mitigate its limitations.

22 thg 10, 2024

Phát hành các Ghi chú

Changing a few things.

25 thg 10, 2024

Phát hành các Ghi chú

A new image just showing how it displays

25 thg 10, 2024

Phát hành các Ghi chú

new image

27 thg 1

Phát hành các Ghi chú

Hello all, i've made a few key Improvements:

Simplified bgColor Calculation:
Replaced the if-else block for bgColor with a ternary-like structure using if expressions. This makes the code more concise and easier to read.

Efficient Label Handling:
The label creation and deletion logic remains the same, but I ensured the code is clean and avoids redundancy.

Alert Conditions:
Added an alertcondition for buy signals. This allows you to set up alerts in TradingView when a buy signal is generated.

Code Readability:
Improved formatting and removed unnecessary comments to make the script easier to follow.

Line Drawing:
The dotted lines for entry, take profit, and stop loss levels are drawn only when a buy signal occurs, as in your original script.

27 thg 1

Phát hành các Ghi chú

image update