V2_Major_Trend_Finder
This script is a major trend following script. The calculations use Keltner Channels, moving averages and RSI.
The indicator is simple to follow:
Green Candlesticks indicate more bullish momentum expected
Red Candlesticks indicate more bearish momentum expected
blue dots are possible long ideas due to RSI oversold
Orange dots are possible short ideas due to RSI overbought
olive line is a one year moving average
The script is open for those looking for deeper understanding of the script.
Many Regards
Sulaiman
The indicator is simple to follow:
Green Candlesticks indicate more bullish momentum expected
Red Candlesticks indicate more bearish momentum expected
blue dots are possible long ideas due to RSI oversold
Orange dots are possible short ideas due to RSI overbought
olive line is a one year moving average
The script is open for those looking for deeper understanding of the script.
Many Regards
Sulaiman
Release Notes:
Greetings guys !
Many thanks for all the likes my first trend following script has gained :)
Please find this updated script
It is the same concept as the previous one, except that we added more conditions and calculation to avoid getting trapped in trend corrections
You will notice fewer overbought and oversold signals
you will also notice the momentum bars (green/red) are more precise in explaining the trend direction.
As always the script is open for any interest deeper understanding of the script.
copy rights as per the house rules :)
Many thanks for all the likes my first trend following script has gained :)
Please find this updated script
It is the same concept as the previous one, except that we added more conditions and calculation to avoid getting trapped in trend corrections
You will notice fewer overbought and oversold signals
you will also notice the momentum bars (green/red) are more precise in explaining the trend direction.
As always the script is open for any interest deeper understanding of the script.
copy rights as per the house rules :)