Normally we have Moving average which is lagging indicator but in this script we have removed the lag and get signal upfront to maximize the profit and minimize the losses.
This is good for Entry purpose, for exit also it can be used but profit might be less. It is suggested to use one of the below method for exit
Target based RSI divergence or Price & Volume Based Analysis VWAP (Volume for Index (Nifty & BankNifty is not available on Tradingview. Investing.com can be used for the same.)
If need more information on any of the above method, Please comment i will share more information on this either on tradingview or could be on the yourtube video.
This strategy is very helpful to me. The back test results are very encouraging. I am going to use this for my directional trades. Thank you very much for creating this code. Keep it up and all the best. Cheers !!!
happyTacos
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@svijaytrades, Thanks You can try modified version of this same script search with AM_WLMA_Crossover_X
oppassmore
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This is exactly what I was looking for. This gives in sync signals when I put the Heiken Ashi 1H and 4Hr combo together. For some good long intraday signals with 2 MA's that let me know it's a low risk trade. Wow, you are the only one that created this on Tradingview. I have it in mt4 for 15 min charts but wanted it here for alerts on a longer time frame. I really appreciate this.
happyTacos
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@oppassmore, Thanks You can try modified version of this same script search with AM_WLMA_Crossover_X. This you can try it on any time frame but some minor rule to be followed to ensure we are not getting trapped in wrong brk outs.