OPEN-SOURCE SCRIPT
Enhanced Buy/Sell Signals
//version=5
indicator("Enhanced Buy/Sell Signals", overlay=true)
// Parameters
lengthRSI = input(14, title="RSI Length")
lengthSMA = input(50, title="SMA Length")
overbought = input(70, title="Overbought Level")
oversold = input(30, title="Oversold Level")
fastLength = input(12, title="MACD Fast Length")
slowLength = input(26, title="MACD Slow Length")
signalSmoothing = input(9, title="MACD Signal Smoothing")
// Indicators
rsi = ta.rsi(close, lengthRSI)
sma = ta.sma(close, lengthSMA)
[macdLine, signalLine, _] = ta.macd(close, fastLength, slowLength, signalSmoothing)
// Buy/Sell Conditions
buySignal = ta.crossover(rsi, oversold) and close > sma and ta.crossover(macdLine, signalLine)
sellSignal = ta.crossunder(rsi, overbought) and close < sma and ta.crossunder(macdLine, signalLine)
// Plotting
plotshape(series=buySignal, title="Buy", location=location.belowbar, color=color.green, style=shape.labelup, text="BUY")
plotshape(series=sellSignal, title="Sell", location=location.abovebar, color=color.red, style=shape.labeldown, text="SELL")
// Alerts
alertcondition(buySignal, title="Buy Signal", message="Buy signal detected!")
alertcondition(sellSignal, title="Sell Signal", message="Sell signal detected!")
indicator("Enhanced Buy/Sell Signals", overlay=true)
// Parameters
lengthRSI = input(14, title="RSI Length")
lengthSMA = input(50, title="SMA Length")
overbought = input(70, title="Overbought Level")
oversold = input(30, title="Oversold Level")
fastLength = input(12, title="MACD Fast Length")
slowLength = input(26, title="MACD Slow Length")
signalSmoothing = input(9, title="MACD Signal Smoothing")
// Indicators
rsi = ta.rsi(close, lengthRSI)
sma = ta.sma(close, lengthSMA)
[macdLine, signalLine, _] = ta.macd(close, fastLength, slowLength, signalSmoothing)
// Buy/Sell Conditions
buySignal = ta.crossover(rsi, oversold) and close > sma and ta.crossover(macdLine, signalLine)
sellSignal = ta.crossunder(rsi, overbought) and close < sma and ta.crossunder(macdLine, signalLine)
// Plotting
plotshape(series=buySignal, title="Buy", location=location.belowbar, color=color.green, style=shape.labelup, text="BUY")
plotshape(series=sellSignal, title="Sell", location=location.abovebar, color=color.red, style=shape.labeldown, text="SELL")
// Alerts
alertcondition(buySignal, title="Buy Signal", message="Buy signal detected!")
alertcondition(sellSignal, title="Sell Signal", message="Sell signal detected!")
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.