OPEN-SOURCE SCRIPT

MA Crossover with +100 Target Label

//version=5
indicator("MA Crossover with +100 Target Label", overlay=true)

// === Input Parameters ===
shortPeriod = input.int(10, title="Short MA Period")
longPeriod = input.int(100, title="Long MA Period")
pointTarget = input.float(100.0, title="Target Points", step=0.1)

// === Moving Averages ===
shortMA = ta.sma(close, shortPeriod)
longMA = ta.sma(close, longPeriod)

// === Plotting MAs ===
plot(shortMA, title="Short MA", color=color.orange)
plot(longMA, title="Long MA", color=color.blue)

// === Crossover Detection ===
bullishCross = ta.crossover(shortMA, longMA)
bearishCross = ta.crossunder(shortMA, longMA)

// === Variables to Track Entry and Targets ===
var float buyPrice = na
var float sellPrice = na
var bool buyActive = false
var bool sellActive = false

// === On Buy Signal ===
if bullishCross
buyPrice := close
buyActive := true
sellActive := false // Reset opposite signal
sellPrice := na
label.new(bar_index, low, "Buy", style=label.style_label_up, color=color.green, textcolor=color.white)

// === On Sell Signal ===
if bearishCross
sellPrice := close
sellActive := true
buyActive :=

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.

Richlambie111

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

Richlambie111