OPEN-SOURCE SCRIPT
CHN TAB
# CHN TAB - Technical Analysis Bot
## Overview
The TAB (Technical Analysis Bot) indicator is a comprehensive trading signal system that combines Simple Moving Average (SMA) crossovers with MACD momentum analysis to identify high-probability entry and exit points. This indicator provides both immediate and delayed signal detection with built-in risk management through automatic Take Profit (TP) and Stop Loss (SL) calculations.
## Key Features
- **Dual Signal Detection**: Combines SMA(50) price action with MACD momentum
- **Smart Signal Timing**: Offers both immediate and delayed signal recognition
- **Automatic Risk Management**: Calculates TP and SL levels using ATR (Average True Range)
- **Visual Feedback**: Color-coded candles and filled zones for easy identification
- **Comprehensive Alerts**: Three distinct alert conditions for different trading needs
## How It Works
### Buy Signals
**Immediate Buy Signal:**
- Price crosses above SMA(50) (open < SMA50 and close > SMA50)
- MACD crosses above zero line simultaneously
**Delayed Buy Signal:**
- Previous candle crossed above SMA(50)
- Previous MACD was ≤ 0, current MACD > 0
- Current candle remains above SMA(50)
### Sell Signals
**Immediate Sell Signal:**
- Price crosses below SMA(50) (open > SMA50 and close < SMA50)
- MACD crosses below zero line simultaneously
**Delayed Sell Signal:**
- Previous candle crossed below SMA(50)
- Previous MACD was ≥ 0, current MACD < 0
- Current candle remains below SMA(50)
### Risk Management
- **Take Profit**: Entry price ± 1.0 × ATR(14)
- **Stop Loss**: Entry price ± 1.5 × ATR(14)
- **Risk-Reward Ratio**: Automatic 1:1.5 setup
## Visual Elements
- **Green Candles**: Buy signal triggered
- **Red Candles**: Sell signal triggered
- **Orange Line**: Entry price level (displayed for 10 bars)
- **Green Fill**: Take profit zone
- **Red Fill**: Stop loss zone
## Alert System
1. **TAB Buy Signal**: Triggers only on buy signals
2. **TAB Sell Signal**: Triggers only on sell signals
3. **TAB Buy & Sell Signal**: Triggers on any signal (buy or sell)
## Best Practices
- Use on trending markets for better signal quality
- Combine with higher timeframe analysis for confirmation
- Consider market volatility when interpreting ATR-based levels
- Backtest on your preferred timeframes before live trading
## Technical Parameters
- **SMA Period**: 50
- **MACD Settings**: 12, 26, 9 (Fast, Slow, Signal)
- **ATR Period**: 14
- **Signal Display**: 10 bars duration
## Timeframe Recommendations
- Works on all timeframes
- Best performance on 15M, 1H, and 4H charts
- Higher timeframes provide more reliable signals
## Risk Disclaimer
This indicator is for educational and informational purposes only. Trading involves substantial risk of loss and is not suitable for all investors. Past performance does not guarantee future results. Always conduct your own analysis and consider your risk tolerance before making trading decisions.
---
**Version**: 6.0
**Overlay**: Yes
**Category**: Trend Following, Momentum
**Suitable For**: Forex, Stocks, Crypto, Commodities
## Overview
The TAB (Technical Analysis Bot) indicator is a comprehensive trading signal system that combines Simple Moving Average (SMA) crossovers with MACD momentum analysis to identify high-probability entry and exit points. This indicator provides both immediate and delayed signal detection with built-in risk management through automatic Take Profit (TP) and Stop Loss (SL) calculations.
## Key Features
- **Dual Signal Detection**: Combines SMA(50) price action with MACD momentum
- **Smart Signal Timing**: Offers both immediate and delayed signal recognition
- **Automatic Risk Management**: Calculates TP and SL levels using ATR (Average True Range)
- **Visual Feedback**: Color-coded candles and filled zones for easy identification
- **Comprehensive Alerts**: Three distinct alert conditions for different trading needs
## How It Works
### Buy Signals
**Immediate Buy Signal:**
- Price crosses above SMA(50) (open < SMA50 and close > SMA50)
- MACD crosses above zero line simultaneously
**Delayed Buy Signal:**
- Previous candle crossed above SMA(50)
- Previous MACD was ≤ 0, current MACD > 0
- Current candle remains above SMA(50)
### Sell Signals
**Immediate Sell Signal:**
- Price crosses below SMA(50) (open > SMA50 and close < SMA50)
- MACD crosses below zero line simultaneously
**Delayed Sell Signal:**
- Previous candle crossed below SMA(50)
- Previous MACD was ≥ 0, current MACD < 0
- Current candle remains below SMA(50)
### Risk Management
- **Take Profit**: Entry price ± 1.0 × ATR(14)
- **Stop Loss**: Entry price ± 1.5 × ATR(14)
- **Risk-Reward Ratio**: Automatic 1:1.5 setup
## Visual Elements
- **Green Candles**: Buy signal triggered
- **Red Candles**: Sell signal triggered
- **Orange Line**: Entry price level (displayed for 10 bars)
- **Green Fill**: Take profit zone
- **Red Fill**: Stop loss zone
## Alert System
1. **TAB Buy Signal**: Triggers only on buy signals
2. **TAB Sell Signal**: Triggers only on sell signals
3. **TAB Buy & Sell Signal**: Triggers on any signal (buy or sell)
## Best Practices
- Use on trending markets for better signal quality
- Combine with higher timeframe analysis for confirmation
- Consider market volatility when interpreting ATR-based levels
- Backtest on your preferred timeframes before live trading
## Technical Parameters
- **SMA Period**: 50
- **MACD Settings**: 12, 26, 9 (Fast, Slow, Signal)
- **ATR Period**: 14
- **Signal Display**: 10 bars duration
## Timeframe Recommendations
- Works on all timeframes
- Best performance on 15M, 1H, and 4H charts
- Higher timeframes provide more reliable signals
## Risk Disclaimer
This indicator is for educational and informational purposes only. Trading involves substantial risk of loss and is not suitable for all investors. Past performance does not guarantee future results. Always conduct your own analysis and consider your risk tolerance before making trading decisions.
---
**Version**: 6.0
**Overlay**: Yes
**Category**: Trend Following, Momentum
**Suitable For**: Forex, Stocks, Crypto, Commodities
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.