OPEN-SOURCE SCRIPT
TheSmartTradingGuy - Master Script 001
This Pine Script combines multiple technical indicators into one "Master Script" for trading on TradingView. Here’s a brief breakdown of its main components:
ADX (Average Directional Index) Settings
Measures trend strength using ADX, DI+, and DI- values.
Inputs allow customization of smoothing length and trend limit.
SuperTrend Indicator (Superscript)
Uses ATR (Average True Range) to determine trend direction.
Generates buy/sell signals based on price crossing trend levels.
Moving Averages (Long-Term & Short-Term Trends)
Supports different MA types (SMA, EMA, WMA, etc.).
Helps track long-term (100-period) and short-term (50-period) trends.
RSI (Relative Strength Index) with Moving Average
Computes RSI and applies a moving average to it.
Includes background color changes for bullish/bearish RSI conditions.
Pivot Points & Support/Resistance Levels
Calculates daily/monthly pivots based on high, low, and close.
Computes key resistance (R1, R2, R3) and support (S1, S2, S3) levels.
VWAP (Volume Weighted Average Price)
Determines market sentiment based on price-weighted volume.
Highlights VWAP levels on the chart.
ADX-Based No-Trade Zone
Uses ADX values to filter trades in weak-trend conditions.
Exponential Moving Averages (EMAs) for Trend Identification
Uses multiple EMAs (9, 13, 21, 34) for trend confirmation.
Buy/Sell Signals
A bullish trend shift generates a buy signal.
A bearish trend shift generates a sell signal.
This script is designed for traders who want a comprehensive trend-following system combining multiple indicators like ADX, SuperTrend, RSI, VWAP, and Pivot Points for better decision-making. Let me know if you need a more detailed explanation of any part!
ADX (Average Directional Index) Settings
Measures trend strength using ADX, DI+, and DI- values.
Inputs allow customization of smoothing length and trend limit.
SuperTrend Indicator (Superscript)
Uses ATR (Average True Range) to determine trend direction.
Generates buy/sell signals based on price crossing trend levels.
Moving Averages (Long-Term & Short-Term Trends)
Supports different MA types (SMA, EMA, WMA, etc.).
Helps track long-term (100-period) and short-term (50-period) trends.
RSI (Relative Strength Index) with Moving Average
Computes RSI and applies a moving average to it.
Includes background color changes for bullish/bearish RSI conditions.
Pivot Points & Support/Resistance Levels
Calculates daily/monthly pivots based on high, low, and close.
Computes key resistance (R1, R2, R3) and support (S1, S2, S3) levels.
VWAP (Volume Weighted Average Price)
Determines market sentiment based on price-weighted volume.
Highlights VWAP levels on the chart.
ADX-Based No-Trade Zone
Uses ADX values to filter trades in weak-trend conditions.
Exponential Moving Averages (EMAs) for Trend Identification
Uses multiple EMAs (9, 13, 21, 34) for trend confirmation.
Buy/Sell Signals
A bullish trend shift generates a buy signal.
A bearish trend shift generates a sell signal.
This script is designed for traders who want a comprehensive trend-following system combining multiple indicators like ADX, SuperTrend, RSI, VWAP, and Pivot Points for better decision-making. Let me know if you need a more detailed explanation of any part!
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.