OPEN-SOURCE SCRIPT
Unified Strategy
Traffic Light + Trend Trader
Description:
The Trend Trader strategy leverages the power of moving averages (MAs) and MACD to identify market trends and capitalize on momentum shifts. This indicator is ideal for traders seeking consistent signals for both entry and exit points, making it versatile across various markets, including stocks, forex, and commodities.
Key Features:
Dynamic Trend Detection:
Short and long-term moving averages (MAs) provide insights into the current market trend.
Crossovers between MAs signal potential buy or sell opportunities.
MACD Confirmation:
Combines MA crossovers with MACD for double confirmation of trend changes.
Color-coded background highlights bullish or bearish momentum during active trading sessions.
Session Customization:
Allows traders to focus on specific trading hours by customizing session times.
Ensures the strategy aligns with your preferred trading schedule.
Instrument-Specific Targeting:
Tailored targets for popular instruments like US30, NDX100, GER40, and GOLD.
Adaptable to different volatility profiles and market behaviors.
How to Use:
Buy Signal: When the short MA crosses above the long MA, confirmed by MACD trending upward.
Sell Signal: When the short MA crosses below the long MA, confirmed by MACD trending downward.
Background Colors: Green indicates bullish momentum; red highlights bearish momentum during the session.
Benefits:
Enhances trend-following strategies by reducing noise and false signals.
Suitable for both short-term scalping and long-term trend trading.
Highly customizable for different trading styles and instruments.
Tags:
Trend Trader, Moving Average Crossover, MACD, Forex, Stocks, Scalping, Swing Trading, Long, Short, TradingView Indicator.
Additional Instructions:
Ensure session times and target levels are tailored to your trading strategy.
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.