OPEN-SOURCE SCRIPT
SMA mechanical swing trade
Indicator that compares the closing price of an asset vs a simple moving average as a mechanical swing trading strategy. It allows the user to set any asset and timeframe for the strategy, which can be different from those the user is currently viewing. The strategy also allows the user to set an upside and downside tolerance so that retests within a few % of the SMA get some space to breathe before flipping directional bias.
If the selected asset in the strategy is different from the one currently viewed, the indicator plots the MA for the currently viewed asset but keeps applying the directional bias colors from the strategy asset.
Some examples of recommended usage of this indicator: BTCUSD 120D, BTCUSD 120D applied on ETHUSD, AAVEUSD 365D.
If the selected asset in the strategy is different from the one currently viewed, the indicator plots the MA for the currently viewed asset but keeps applying the directional bias colors from the strategy asset.
Some examples of recommended usage of this indicator: BTCUSD 120D, BTCUSD 120D applied on ETHUSD, AAVEUSD 365D.
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.