The Godfather — Indicator by JOJOGLO

candlestickanalysis movingaverage trendanalysis trendfollowing movingaveragecrossover powerxstrategy

This indicator uses a custom MA as well as RSI bar-flips, as a form of pivot point, to signal the direction of the trend.

The triangle markers on the chart are the RSI flipping from negative to positive, and vice versa.

The lighter shaded candles are up candles, the darker shaded candles are down candles.

Release Notes:

Fixed a small quirk that I did not like:

The code now handles the previous RSI bar-flip, when the other conditions are not met, by comparing the closing price of the current bar with the MA.

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

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