OPEN-SOURCE SCRIPT
Investify360 ICT Indicator
The Investify360 ICT Indicator is designed to follow the ICT (Inner Circle Trader) strategy. It provides essential buy and sell signals based on price movements relative to a simple moving average (SMA). The indicator is built to be beginner-friendly with clear labels and color-coded signals.
Key Features
Simple Moving Average (SMA):
The script calculates a simple moving average based on a user-defined period (length), defaulting to 14 periods. This moving average helps smooth out price data and identify trends.
Buy and Sell Signals:
Buy Signal: A buy signal is generated when the current price (src, defaulting to the close price) crosses above the SMA. This event is typically interpreted as a potential upward trend.
Sell Signal: A sell signal is generated when the current price crosses below the SMA. This event is often interpreted as a potential downward trend.
These signals are visually represented on the chart with up and down labels respectively.
Labels and Colors:
Buy Signal: Displayed with an up label (BUY) in green color.
Sell Signal: Displayed with a down label (SELL) in red color.
The colors for these signals can be customized through the script inputs (buyColor and sellColor).
Beginner-Friendly Labels:
To assist beginners, the script includes a label at the start of the chart indicating the position of the moving average line (MA Line). This label is shown on the first bar to clarify the purpose of the plotted line.
Plotting the Moving Average:
The SMA is plotted on the chart with a yellow line, making it easily distinguishable. The moving average line helps traders visualize the trend direction.
Key Features
Simple Moving Average (SMA):
The script calculates a simple moving average based on a user-defined period (length), defaulting to 14 periods. This moving average helps smooth out price data and identify trends.
Buy and Sell Signals:
Buy Signal: A buy signal is generated when the current price (src, defaulting to the close price) crosses above the SMA. This event is typically interpreted as a potential upward trend.
Sell Signal: A sell signal is generated when the current price crosses below the SMA. This event is often interpreted as a potential downward trend.
These signals are visually represented on the chart with up and down labels respectively.
Labels and Colors:
Buy Signal: Displayed with an up label (BUY) in green color.
Sell Signal: Displayed with a down label (SELL) in red color.
The colors for these signals can be customized through the script inputs (buyColor and sellColor).
Beginner-Friendly Labels:
To assist beginners, the script includes a label at the start of the chart indicating the position of the moving average line (MA Line). This label is shown on the first bar to clarify the purpose of the plotted line.
Plotting the Moving Average:
The SMA is plotted on the chart with a yellow line, making it easily distinguishable. The moving average line helps traders visualize the trend direction.
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.
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.