OPEN-SOURCE SCRIPT
FV 15min MS_230906_co
Updated
This script allows the user to visualize a momentum shifts on the candlestick charts. This is a visual indicator to help the trader quickly recognize if a potential trade exists where the market sentiment might be changing. The MS occurs when the below parameters are followed:
Creates blue triangle on the chart when:
1) at the close of a green candle that was preceded by 4 or more red candle closes
2) The RSI falls below 30 during of the candles or wicks
3) The bollinger band is pierced at any point (regardless of close) during that series of candles
Creates blue triangle on the chart when the conditions are :
1) creates a blue triangle on the chart when at the close of a red candle that was preceded by 4 or more green candle closes
2) The RSI goes above 70 during of the candles or wicks
3) The bollinger band is pierced at any point (regardless of close) during that series of candles
Creates blue triangle on the chart when:
1) at the close of a green candle that was preceded by 4 or more red candle closes
2) The RSI falls below 30 during of the candles or wicks
3) The bollinger band is pierced at any point (regardless of close) during that series of candles
Creates blue triangle on the chart when the conditions are :
1) creates a blue triangle on the chart when at the close of a red candle that was preceded by 4 or more green candle closes
2) The RSI goes above 70 during of the candles or wicks
3) The bollinger band is pierced at any point (regardless of close) during that series of candles
Release Notes
This script allows the user to visualize a momentum shifts on the candlestick charts. This is a visual indicator to help the trader quickly recognize if a potential trade exists where the market sentiment might be changing. The MS occurs when the below parameters are followed:Creates blue triangle on the chart when:
1) at the close of a green candle that was preceded by 4 or more red candle closes
2) The RSI falls below 30 during of the candles or wicks
3) The bollinger band is pierced at any point (regardless of close) during that series of candles
Creates blue triangle on the chart when the conditions are :
1) creates a blue triangle on the chart when at the close of a red candle that was preceded by 4 or more green candle closes
2) The RSI goes above 70 during of the candles or wicks
3) The bollinger band is pierced at any point (regardless of close) during that series of candles
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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