OPEN-SOURCE SCRIPT
MACD S/R signal indicator
I've based the script on my MACDs/r indicator.
I think it works better on higher timeframes, this is just an experiment, please feel free to modify it.
I have been testing it with parabolic SARS to know when to exit the trades.
Exit condition: if I'm in a log position and the price is below the last bearish parabolic SARS dot I exit the trade and the opposite for shorts
DISCLAIMER: Is just an experiment and I haven't test it with real money, be careful
I think it works better on higher timeframes, this is just an experiment, please feel free to modify it.
I have been testing it with parabolic SARS to know when to exit the trades.
Exit condition: if I'm in a log position and the price is below the last bearish parabolic SARS dot I exit the trade and the opposite for shorts
DISCLAIMER: Is just an experiment and I haven't test it with real money, be careful
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.
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