MJForex Buy&sell AI

2 days agoThis indicator used for technical analysis and It aims to provide buy and sell signals using AI-based trend identification and standard technical indicators. Here is a summary of the key components:

AI Trend Identification:

• The AI trend analysis uses a moving average (MA) with several types available (SMA, EMA, WMA, etc.) and a KNN algorithm to classify trends as either bullish or bearish.
  
• Labels are created using KNN to classify data points based on their relation to the MA.
  
• Linear regression is used to calculate the slope, showing the direction of the trend.
  

Trend Conditions:

• Based on the AI classification (red for bearish, green for bullish), conditions are defined for trend switches.
  
• Plots are created to display the AI-derived MA and slope on the chart, helping to visualize the current trend.
  

Buy/Sell Signal Logic:

• Uses the Average True Range (ATR) to determine stop levels (longStop and shortStop).
  
• Generates buy signals when the direction changes to up (longStop is triggered) and sell signals when it changes to down (shortStop is triggered).
  
• Plots buy/sell stop levels and optional buy/sell labels.
  

Session Visualization:

• Visualizes three trading sessions with different colors on the chart (Tokyo, London, and New York), providing context on which session the market is in.
  

TrendS Identification:

• A second set of trend identification logic is implemented (TrendS), similar to the primary AI logic, using ATR to determine long and short stops.
  
• Provides additional buy and sell signals (buySignalS and sellSignalS) along with fill colors to visually indicate market states.
  

Alert Conditions:

• Alerts are defined to notify users of significant events: a direction change, a buy signal, or a sell signal in both TrendC (primary AI) and TrendS.
  
• Overall, the script uses both AI-based and conventional technical indicators to identify market trends, display trend directions, and generate buy/sell signals, providing users with actionable insights for trading.