OPEN-SOURCE SCRIPT
Golden Cross/Death Cross Buy/Sell Signals
Golden Cross/Death Cross Indicator Overview
The Golden Cross and Death Cross are two widely known technical indicators used by traders to identify early trend potentials.
Golden Cross: This happens when the 50-period Exponential Moving Average (EMA) crosses above the 200-period EMA. This is generally interpreted as a bullish signal, suggesting that the price could rise in the near future.
Death Cross: The opposite of the Golden Cross, this occurs when the 50-period EMA crosses below the 200-period EMA. It is typically considered a bearish signal, indicating the potential for the price to fall.
Customization of Period Length
By default, the indicator uses the 50-period EMA and the 200-period EMA, which are standard lengths for Golden Cross and Death Cross signals. However, you can easily customize these lengths according to your trading preferences.
Alerts and Signal Generation
When the Golden Cross occurs, the indicator generates a "BUY" signal below the price bar, suggesting a potential upward trend.
Conversely, when the Death Cross occurs, a "SELL" signal appears above the price bar, indicating a possible downward trend.
Additionally, alerts have been included in the script, so traders can receive real-time notifications when a Golden Cross or Death Cross is detected. This allows for easy tracking and timely decision-making without having to constantly monitor the charts.
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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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.