OPEN-SOURCE SCRIPT
Updated [LanZhu] - MTF MAs Crossover
Credited to ChrisMoody's script ==> _CM_Ultimate_MA_MTF_V4 :)
I have modified a bit his indicator to include more MTF fast MA and slow MA crossover. I have added table to show MTF bullish and bearish status. Fast MA above Slow MA is considered Bullish and vice versa
Kindly refer to chart to see explanation of this indicator. Hopefully you guys will enjoy :)
I have modified a bit his indicator to include more MTF fast MA and slow MA crossover. I have added table to show MTF bullish and bearish status. Fast MA above Slow MA is considered Bullish and vice versa
Kindly refer to chart to see explanation of this indicator. Hopefully you guys will enjoy :)
Release Notes
V2[ New ] - Add MTF MACD as filter
[ Update ] - Remove MTF MAs cross overall golden/dead cross
1) Add MTF MACD as filter
I have added MTF MACD to filter out some noise. Hence, default buy/sell signal will shows based on EMAs cross above/below MACD zero line. The idea is golden cross above zero line and dead cross below zero line usually lead to trend change thus is preferable point to entry or exit trade.
2) Remove MTF MAs cross overall golden/dead cross
Removed because I found it is not so useful for me. Instead, I have include MACD cross as an extra option to entry or exit trade.
Release Notes
UpdateUpgrade to Pine V5
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.
If you find the free indicators helpful, donations are welcome :)
buymeacoffee.com/lanzhu0506
buymeacoffee.com/lanzhu0506
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.
If you find the free indicators helpful, donations are welcome :)
buymeacoffee.com/lanzhu0506
buymeacoffee.com/lanzhu0506
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.