CCI45/SMA50 indy for 30 min SP500 — Indicator by GurselKona

commoditychannelindex simplemovingaverage scalping trendtrading

SPX

The script determines entry points using 45 period CCI and 50 period SMA.

Long condition: When CCI crosses up 150 treshold while price above 50 period SMA
Short condition: When CCI crosses down -150 treshold while price below 50 period SMA

Trades are executed above/below 1 point of high/low for long/short positions. Stops are just 1 point below/above of SMA. After 4 points of profit stops should be tightened. If you do not plan to hold the position for a long time, it can produce quick profit within 5-6 bars namely 2.5-3 hour. Otherwise you can manage the trade using SMA as trailing stop. This can be treated as a strategy of scalping which turns out a trend trading eventually if conditions good.

Have a nice trading

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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