OPEN-SOURCE SCRIPT
Updated TMA + OSMA Scalping System
System is based on TMA Bands + OSMA + EMA Zone. Signal is generated when:
- price recently touched lower or upper band
- price is crossing EMA Zone
- OSMA is aligned in direction of trade to be taken
Natural Target would be opposite band set by TMA.
- price recently touched lower or upper band
- price is crossing EMA Zone
- OSMA is aligned in direction of trade to be taken
Natural Target would be opposite band set by TMA.
Release Notes
Corrected accuracy of signals - now signal is valid only when OSMA very recently moved from opposite value (in case of Long from negative to positive and in case of Short from positive to negative)Release Notes
Modified calculations of TMA and BandsRelease Notes
- Added 2 modes possible to be enabled of coloring chart based on OSMA values - either colour bars or add backgrounf
- Added switcher to calculate different MA Types for signals - currently possible are EMA (default) and VWMA
Release Notes
- Fixed signals occurenceOpen-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.