OPEN-SOURCE SCRIPT
Updated Noro's Trend Ribbon Strategy
One moving average ( SMA ) is used. The channel is convened at a moving average rather than prices. Blue is a uptrend. Red is a downtrend.
If the candle has closed above the ribbon - open long (and close short)
If the candle has closed below the ribbon - open short (and close long)
If the candle has closed above the ribbon - open long (and close short)
If the candle has closed below the ribbon - open short (and close long)
Release Notes
+ ohlc4Release Notes
+ Signal SourceRelease Notes
+ MA Type (sma, ema, vwma)Release Notes
+ MA Type (rma)Release Notes
+ checkbox (long, short, etc)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.
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.