PROTECTED SOURCE SCRIPT
Updated Profit booking Indicator
basic indicator to check swing highs and lows. it uses macd cross over along with moving average of 20 and 50. when candle crosses 50ema it will give buy signal and when crosses below 20ema it gives sell signal.
Release Notes
ell signal when RSI < 40, MACD crosses zero or signal line downward in negative zone, close below 50 EMA, candle bearish.Strong sell signal confirmed on 5-minute higher timeframe with same conditions.
Square off half/full signals as defined.
Target lines drawn bold based on previous swing lows and extended as described.
Blue candle color when RSI below 30.
One sell and one full square off per cycle, blocking repeated sells until full square off.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – 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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – 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.