OPEN-SOURCE SCRIPT
Reaction
//version=4
study("My Script",overlay=true)
SELL=((2*hlc3-low))
BUY=((2*hlc3-high))
HBOP=((2*hlc3)-(2*low)+high)
LBOP=((2*hlc3)-(2*high)+low)
SELLEMA=ema(SELL,3)
BUYEMA=ema(BUY,3)
HBOPSMA=ema(HBOP,3)
LBOPSMA=ema(LBOP,3)
plot(HBOPSMA[1],color=green)
plot(LBOPSMA[1],color=red)
plot(SELLEMA[1])
plot(BUYEMA[1])
plot(vwap,color=white)
BC= hlc3>BUYEMA and hlc3>hlc3[1] and low>BUYEMA
SC= hlc3<SELLEMA and hlc3<hlc3[1] and high<SELLEMA
DN= not BC and not SC
barcolor(BC? green: na)
barcolor(SC? red: na)
barcolor(DN? yellow: na)
study("My Script",overlay=true)
SELL=((2*hlc3-low))
BUY=((2*hlc3-high))
HBOP=((2*hlc3)-(2*low)+high)
LBOP=((2*hlc3)-(2*high)+low)
SELLEMA=ema(SELL,3)
BUYEMA=ema(BUY,3)
HBOPSMA=ema(HBOP,3)
LBOPSMA=ema(LBOP,3)
plot(HBOPSMA[1],color=green)
plot(LBOPSMA[1],color=red)
plot(SELLEMA[1])
plot(BUYEMA[1])
plot(vwap,color=white)
BC= hlc3>BUYEMA and hlc3>hlc3[1] and low>BUYEMA
SC= hlc3<SELLEMA and hlc3<hlc3[1] and high<SELLEMA
DN= not BC and not SC
barcolor(BC? green: na)
barcolor(SC? red: na)
barcolor(DN? yellow: na)
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.