OPEN-SOURCE SCRIPT
Updated mForex - 3 Moving Average - Parabolic SAR
Script identifies the uptrend and downtrend according to the average price of the MA and PSAR lines.
Rules of sale:
- Open short positions when:
- Stop loss:
- Profit-taking: Corresponding ratio of R: R (1: 2)
- Open long positions when:
- Stop loss:
- Profit-taking: Corresponding ratio of R: R (1: 2)
Rules of sale:
- Open short positions when:
- MA12 cuts MA26 and MA52 from the top.
- PSAR dots on the price line
- Stop loss:
- At the dots of PSAR and use Trailing Stop facing up
- On the nearest peak
- Profit-taking: Corresponding ratio of R: R (1: 2)
- Open long positions when:
- MA12 cuts MA26 and MA52 from the bottom.
- PSAR dots below the price line
- Stop loss:
- At the dots of PSAR and use Trailing Stop facing down
- Below the nearest peak
- Profit-taking: Corresponding ratio of R: R (1: 2)
Release Notes
Add a BUY / SELL signalRelease Notes
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Open-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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