OPEN-SOURCE SCRIPT
Updated GDM Price Power & Under Current
Price Power & Under Current.
This is an updated version of the script I had shared earlier namely 'GDM Power Cross'
I have added under current and have removed upper an lower bands.
How to Trade:
Similar to various Moving Average cross over strategies; this indicator can be used to trade crossovers of Price Powers.
Lengths I have used as default are 7, 9 and 21. So when smaller Power Crosses above the Higher Powers; it is a Bullish Crossover and vice versa.
It is observed that most times we do get opportunity to enter in the price range of the candle where cross over has taken place.
Under Current: These are moving averages of above mention Price Powers. it is found that cross overs of Power lines work better when under currents are already in Bullish or Bearish mode. e.g. Bullish Cross Over of Power Lines will work better when Under Current lines are already Bullish or say Smaller Length Under Current is already above the Higher Length Under Current.
Indicator works better for bigger time frames... recommended time frame is 1 day.
Please feel free to Post your views.
Best Regards
Girish Mane
Re-Lions Trading Academy
+91 8080755813
This is an updated version of the script I had shared earlier namely 'GDM Power Cross'
I have added under current and have removed upper an lower bands.
How to Trade:
Similar to various Moving Average cross over strategies; this indicator can be used to trade crossovers of Price Powers.
Lengths I have used as default are 7, 9 and 21. So when smaller Power Crosses above the Higher Powers; it is a Bullish Crossover and vice versa.
It is observed that most times we do get opportunity to enter in the price range of the candle where cross over has taken place.
Under Current: These are moving averages of above mention Price Powers. it is found that cross overs of Power lines work better when under currents are already in Bullish or Bearish mode. e.g. Bullish Cross Over of Power Lines will work better when Under Current lines are already Bullish or say Smaller Length Under Current is already above the Higher Length Under Current.
Indicator works better for bigger time frames... recommended time frame is 1 day.
Please feel free to Post your views.
Best Regards
Girish Mane
Re-Lions Trading Academy
+91 8080755813
Release Notes
Price Power & Under Current.Made few corrections in previous script. There wer some typo errors.
Please Add the same indicator twice two your chart for better results. In first pane only keep Power Lines visible and hide the Under Current Lines where as in Second Tab keep Undercurrent Visible and hide the Power Lines.
How to Trade:
Similar to various Moving Average cross over strategies; this indicator can be used to trade crossovers of Price Powers.
Lengths I have used as default are 7, 9 and 21. So when smaller Power Crosses above the Higher Powers; it is a Bullish Crossover and vice versa.
It is observed that most times we do get opportunity to enter in the price range of the candle where cross over has taken place.
Under Current: These are moving averages of above mention Price Powers. It is found that cross overs of Under Current lines work better when Power Line are already in Bullish or Bearish mode. e.g. Bullish Cross Over of Under Current Lines will work better when Power lines are already Bullish or say Smaller Length Price Power is already above the Higher Length Price Power.
Indicator works better for bigger time frames... recommended time frame is 1 day.
Please feel free to Post your views.
Best Regards
Girish Mane
Re-Lions Trading Academy
+91 8080755813
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.