OPEN-SOURCE SCRIPT

Price Zone Oscillator + Average Directional Index [backtestx]

The strategy with PZO + ADX is:

In a trending market (ADX > 18):

PZO crosses over 40: enter long
PZO crosses under 60 from above: exit long
PZO crosses under -40: enter short
PZO crosses over -60 from below: exit short

In a non-trending market (ADX < 18):

PZO crosses over 15: enter long
PZO crosses under 40 from above: exit long
PZO crosses under -5: enter short
PZO crosses over -40 from below: exit short

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

For quick access on a chart, add this script to your favorites — learn more here.

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.

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

For quick access on a chart, add this script to your favorites — learn more here.

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.