OPEN-SOURCE SCRIPT
Enhanced Buy/Sell Signals with Confirmation(Bobbin Thomas)
Usage Notes:
Buy Signals (Green Triangles) appear when:
Fast EMA crosses above Slow EMA
RSI crosses back above 30 (oversold recovery)
MACD line crosses above signal line
Price is above both EMAs (uptrend confirmation)
Sell Signals (Red Triangles) appear when:
Fast EMA crosses below Slow EMA
RSI crosses below 70 (overbought rejection)
MACD line crosses below signal line
Price is below both EMAs (downtrend confirmation)
This conservative approach helps filter out false signals by requiring alignment between trend direction (EMAs), momentum (MACD), and market strength (RSI). For best results, use on daily or weekly charts and combine with fundamental analysis.
Buy Signals (Green Triangles) appear when:
Fast EMA crosses above Slow EMA
RSI crosses back above 30 (oversold recovery)
MACD line crosses above signal line
Price is above both EMAs (uptrend confirmation)
Sell Signals (Red Triangles) appear when:
Fast EMA crosses below Slow EMA
RSI crosses below 70 (overbought rejection)
MACD line crosses below signal line
Price is below both EMAs (downtrend confirmation)
This conservative approach helps filter out false signals by requiring alignment between trend direction (EMAs), momentum (MACD), and market strength (RSI). For best results, use on daily or weekly charts and combine with fundamental analysis.
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.
Want to use this script on a chart?
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.