PROTECTED SOURCE SCRIPT
ARKA-Stoplight Trend Analysis
Updated
Bars turn green when the 5-period moving average is above the 15-period moving average, and the 15-period moving average is above the 30-period moving average. If all three degrees of the trend are positive, the trend is up, and we can more confidently enter on the long side by confirming our trading system.
Bars turn red when the 5-period moving average is below the 15-period moving average and the 15-period moving average is below the 30-period moving average. If all three degrees of the trend are negative, the trend is a downside, and we can enter on the short side by confirming our trading system.
The bars turn yellow when the three moving averages are not in the two ways mentioned above, it is a sign of weakness and side market. In this situation, because the direction of the market is not yet clear, we do not have an entry and we wait.
Bars turn red when the 5-period moving average is below the 15-period moving average and the 15-period moving average is below the 30-period moving average. If all three degrees of the trend are negative, the trend is a downside, and we can enter on the short side by confirming our trading system.
The bars turn yellow when the three moving averages are not in the two ways mentioned above, it is a sign of weakness and side market. In this situation, because the direction of the market is not yet clear, we do not have an entry and we wait.
Release Notes
Minor Issue fixed.Release Notes
Bug Fixed.Release Notes
Add an Alert for a bar color change in the indicator to green or red.Protected script
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