OPEN-SOURCE SCRIPT
Updated Forward Cross Projection
A quick script used to predict the average value the price should have to create a cross between a slow and fast MA at a given time. The line is red when the current cross is bullish and the line is green when the current cross is bearish. Crossing a red line downwards means that the price is getting lower and a bearish death cross is impending. Crossing a green line upwards means that the price is rising and a bullish cross is impending. Script was made thanks to the idea of Dannii
Release Notes
A quick script used to predict the average value the price should have to create a cross between a slow and fast MA at a given time. The line is red when the current cross is bullish and the line is green when the current cross is bearish . Crossing a red line downwards means that the price is getting lower and a bearish death cross is impending. Crossing a green line upwards means that the price is rising and a bullish cross is impending. Script was made thanks to the idea of Dannii.Meaning of the Line
The line signifies the average value the price would need to close at to make a cross at the selected X period between a slow and a quick moving average.
How to trade it
Possibly a Trigger/Exit/Confirmation signal.
Case 1 The fast moving average is right now above the slow moving average
The line turns red and it signifies the price at which candles have to close to create a "Death" Bearish Cross. If the price crosses below the line, it's bound to make the SMAs cross.
If the line is green, the opposite applies. To create a bullish cross you need the price to stay above the green level.
Update 1.0.1
- Fixed quicker period bad calculation
Open-source script
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.
Disclaimer
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.
Open-source script
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.
Disclaimer
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.