OPEN-SOURCE SCRIPT
SMA Oscillator
Updated
Simple indicator for trend following. It is simply a substraction of two SMAs (by default it is 12 and 26).
Value over 0 means the market is in uptrend, while value below 0 means the market is in downtrend.
Values of extremes (overbought/oversold market) are dependant on the input values, so I am not advising any value in particular.
Value over 0 means the market is in uptrend, while value below 0 means the market is in downtrend.
Values of extremes (overbought/oversold market) are dependant on the input values, so I am not advising any value in particular.
Release Notes
* Added horizontal line at 0.0 point for better visibilityOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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