OPEN-SOURCE SCRIPT
"Talha's Pro Signal v2"
📌 Talha's Pro Signal - Description
Talha's Pro Signal is a trend-following indicator that combines Exponential Moving Averages (EMA), Relative Strength Index (RSI), and Moving Average Convergence Divergence (MACD) to provide precise Buy and Sell signals.
🔍 How it Works?
1️⃣ Trend Detection:
The script uses EMA 9 & EMA 21 crossover to detect trend direction.
When EMA 9 crosses above EMA 21, it indicates a bullish trend (Buy Signal).
When EMA 9 crosses below EMA 21, it indicates a bearish trend (Sell Signal).
2️⃣ Momentum Confirmation (RSI & MACD):
RSI (14) > 50 confirms bullish momentum.
MACD Line > Signal Line confirms buying strength.
Opposite conditions confirm selling strength.
3️⃣ Stop-Loss & Take-Profit Calculation:
Uses ATR (14) for dynamic SL & TP calculation.
Stop-loss = 1.5 × ATR.
Take-profit = 2 × ATR.
🎯 Best Used For:
✅ Suitable for Forex, Crypto, and Stocks.
✅ Works best on higher timeframes (15m, 1H, 4H, Daily).
✅ Helps traders avoid false signals by combining trend + momentum confirmation.
Talha's Pro Signal is a trend-following indicator that combines Exponential Moving Averages (EMA), Relative Strength Index (RSI), and Moving Average Convergence Divergence (MACD) to provide precise Buy and Sell signals.
🔍 How it Works?
1️⃣ Trend Detection:
The script uses EMA 9 & EMA 21 crossover to detect trend direction.
When EMA 9 crosses above EMA 21, it indicates a bullish trend (Buy Signal).
When EMA 9 crosses below EMA 21, it indicates a bearish trend (Sell Signal).
2️⃣ Momentum Confirmation (RSI & MACD):
RSI (14) > 50 confirms bullish momentum.
MACD Line > Signal Line confirms buying strength.
Opposite conditions confirm selling strength.
3️⃣ Stop-Loss & Take-Profit Calculation:
Uses ATR (14) for dynamic SL & TP calculation.
Stop-loss = 1.5 × ATR.
Take-profit = 2 × ATR.
🎯 Best Used For:
✅ Suitable for Forex, Crypto, and Stocks.
✅ Works best on higher timeframes (15m, 1H, 4H, Daily).
✅ Helps traders avoid false signals by combining trend + momentum confirmation.
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 publications is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
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