OPEN-SOURCE SCRIPT
OPI by Mr_ Analyzer_kH (Optimized Performance Indicator)
Features of This Indicator:
RSI: Highlights overbought/oversold conditions.
MACD: Identifies momentum and trend reversals.
SMA: Tracks the overall trend.
Signal Combination: Generates buy/sell signals when all conditions align.
Background Highlights: Visually represents buy/sell zones.
Key Point:
Buy Condition:
Keep Buying till the blue line moves below the candles.
Sell Condition:
Keep Selling till the blue line moves above the candles.
No Trade Condition:
Do not BUY/SELL once the blue line moves alongside within the candle-sticks.
You can use other indicators for confirmation purpose.
Make Sure to set your entry and exit point before you start your trading and do not be GREEDY.
RSI: Highlights overbought/oversold conditions.
MACD: Identifies momentum and trend reversals.
SMA: Tracks the overall trend.
Signal Combination: Generates buy/sell signals when all conditions align.
Background Highlights: Visually represents buy/sell zones.
Key Point:
Buy Condition:
Keep Buying till the blue line moves below the candles.
Sell Condition:
Keep Selling till the blue line moves above the candles.
No Trade Condition:
Do not BUY/SELL once the blue line moves alongside within the candle-sticks.
You can use other indicators for confirmation purpose.
Make Sure to set your entry and exit point before you start your trading and do not be GREEDY.
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.
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.