OPEN-SOURCE SCRIPT
Updated DJ Soori Trading Strategy
The strategy combines three indicators: Exponential Moving Average (EMA), Weighted Moving Average (WMA), and Average Directional Index (ADX).
The EMA and WMA are used to track the average price over different time periods.
The ADX measures the strength of a trend in the market.
The strategy generates buy signals when the EMA is higher than the WMA and the ADX is above a certain threshold. It suggests a potential uptrend.
It generates sell signals when the EMA is lower than the WMA and the ADX is above the threshold. It suggests a potential downtrend.
The strategy also considers whether the ADX is rising or falling to indicate the strength of the trend.
The EMA, WMA, and ADX values are plotted on the chart.
Buy and sell signals are shown as labels on the chart, indicating "Buy (Strong)" or "Buy (Weak)" for buy signals, and "Sell (Strong)" or "Sell (Weak)" for sell signals.
The EMA and WMA are used to track the average price over different time periods.
The ADX measures the strength of a trend in the market.
The strategy generates buy signals when the EMA is higher than the WMA and the ADX is above a certain threshold. It suggests a potential uptrend.
It generates sell signals when the EMA is lower than the WMA and the ADX is above the threshold. It suggests a potential downtrend.
The strategy also considers whether the ADX is rising or falling to indicate the strength of the trend.
The EMA, WMA, and ADX values are plotted on the chart.
Buy and sell signals are shown as labels on the chart, indicating "Buy (Strong)" or "Buy (Weak)" for buy signals, and "Sell (Strong)" or "Sell (Weak)" for sell signals.
Release Notes
The strategy combines three indicators: Exponential Moving Average (EMA), Weighted Moving Average (WMA), and Average Directional Index (ADX).EMA and WMA track the average price over different time periods.
ADX measures the strength of a trend in the market.
Buy signals:
Generated when EMA is higher than WMA and ADX is above a threshold.
Indicates a potential uptrend.
Sell signals:
Generated when EMA is lower than WMA and ADX is above the threshold.
Indicates a potential downtrend.
The strategy considers the rising or falling nature of ADX to assess the strength of the trend.
The chart displays the EMA, WMA, and ADX values.
Buy and sell signals are indicated on the chart as labels:
"Buy (Strong)" or "Buy (Weak)" for buy signals.
"Sell (Strong)" or "Sell (Weak)" for sell signals.
This strategy helps identify potential trends and provides buy/sell signals based on the EMA-WMA crossover and ADX strength.
Release Notes
Updated barstate codes Release Notes
Book profit has been changed to reversal signRelease Notes
Some new changes added Release Notes
Updated EMA and WMAOpen-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.