OPEN-SOURCE SCRIPT
MACD BF 🚀
Customised MACD strategy with dynamic stop losses based on ATR.
Signals are generated when the delta value becomes positive or negative (when it crosses the zero line)
Stop losses are printed on the chart in yellow and orange. They are based on recent average True Range to allow for volatility.
INSTRUCTIONS
Signals are generated when the delta value becomes positive or negative (when it crosses the zero line)
Stop losses are printed on the chart in yellow and orange. They are based on recent average True Range to allow for volatility.
INSTRUCTIONS
- Green background = long
- Red background = short
- Yellow dotted line = stop loss placement for long
- Orange dotted line = stop loss placement for short
- White background = you have been stopped out, wait patiently for the next signal
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.