OPEN-SOURCE SCRIPT
Rally Sequences
Another simple indicator that you can use to get to know the major trends and bull markets. It only uses 4 different exponential moving averages. These are (55, 89, 144, 233)
The correct alignment you should see on the screen should be from top to bottom and from small to large.
Example: 55 should be at the top and 89, 144 and 233 below, respectively. When you see this sequence, it is simple to realize that you are in a major rising trend.
Monthly, weekly, daily and 4-hour periods are ideal. Less than 4 hours, deviations are possible.
The correct alignment you should see on the screen should be from top to bottom and from small to large.
Example: 55 should be at the top and 89, 144 and 233 below, respectively. When you see this sequence, it is simple to realize that you are in a major rising trend.
Monthly, weekly, daily and 4-hour periods are ideal. Less than 4 hours, deviations are possible.
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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