OPEN-SOURCE SCRIPT
Improved Indicators Table with Alerts
The provided Pine Script code appears to be a custom technical indicator for trading purposes. It defines several technical indicators like RSI, ADX, MACD, EMA, and ATR, and displays them in a table format along with their corresponding trend or market condition. Additionally, it plots various EMAs on the chart and generates alerts for EMA crossovers.
Here's a breakdown of the script functionalities:
Inputs:
Defines various input parameters for customizing the indicators (lengths, smoothing periods, etc.)
Options to control breakouts, volume thresholds, and pivot points for support and resistance levels.
Calculations:
Calculates various technical indicators based on user-defined parameters.
Analyzes price movements and volume to determine market conditions (trending or consolidating).
Identifies potential breakouts based on price crossing support/resistance levels and volume.
Outputs:
Displays a table with indicator values, trend direction, and market condition with color-coded backgrounds for better visualization.
Plots short, long, fast, and slow EMAs on the chart.
Generates alerts for bullish/bearish crossovers between fast and slow EMAs.
Plots shapes and labels to indicate potential breakouts and wick formations.
Triggers alerts for support and resistance breakouts with sufficient volume.
Overall, this script aims to provide traders with a comprehensive view of various technical analysis indicators and potential trading signals based on price, volume, and momentum.
Disclaimer: I am unable to provide financial advice. This script is for educational purposes only, and its trading signals should not be considered financial recommendations.
Here's a breakdown of the script functionalities:
Inputs:
Defines various input parameters for customizing the indicators (lengths, smoothing periods, etc.)
Options to control breakouts, volume thresholds, and pivot points for support and resistance levels.
Calculations:
Calculates various technical indicators based on user-defined parameters.
Analyzes price movements and volume to determine market conditions (trending or consolidating).
Identifies potential breakouts based on price crossing support/resistance levels and volume.
Outputs:
Displays a table with indicator values, trend direction, and market condition with color-coded backgrounds for better visualization.
Plots short, long, fast, and slow EMAs on the chart.
Generates alerts for bullish/bearish crossovers between fast and slow EMAs.
Plots shapes and labels to indicate potential breakouts and wick formations.
Triggers alerts for support and resistance breakouts with sufficient volume.
Overall, this script aims to provide traders with a comprehensive view of various technical analysis indicators and potential trading signals based on price, volume, and momentum.
Disclaimer: I am unable to provide financial advice. This script is for educational purposes only, and its trading signals should not be considered financial recommendations.
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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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.