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TheSandyBanana

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TheSandyBanana is a comprehensive trading indicator designed for various asset classes. It combines multiple technical analysis tools to provide buy and sell signals, aiding traders in making informed decisions. This script is suitable for traders who prefer a combination of trend-following and momentum strategies.

Features:

RSI-Based Signals: Utilizes a modified Relative Strength Index (RSI) with an extended period of 200 bars for smoothing, providing a less reactive but more stable momentum indicator.

RSI EMA: Applies an Exponential Moving Average (EMA) with a 100-bar period to the RSI, further smoothing the RSI and aiding in the identification of longer-term momentum trends.

ATR for Volatility Analysis: Employs the Average True Range (ATR) over a 100-bar period, adjusted with a multiplier of 1. This is used to gauge market volatility and filter signals based on market dynamics.

Peak and Trough Detection: Detects peaks and troughs in the RSI EMA using refined logic and a lookback period of 33 bars, helping in pinpointing potential reversal points.

Dynamic Buy and Sell Signals: Generates buy signals when a trough is identified, and the RSI is below 50, indicating potential upward momentum. Sell signals are generated at peaks when the RSI is above 50, suggesting possible downward momentum.

333-Period EMA: Features a long-term 3333-period EMA, plotted on the chart for trend analysis and potential dynamic support or resistance levels.

Alert Conditions: Includes conditions for buy and sell alerts, making it easier for traders to be notified of potential trading opportunities.

Usage:

This indicator is best suited for traders looking for a blend of trend and momentum analysis. The extended periods used in RSI and EMA calculations make this indicator more suitable for medium to long-term trading strategies. Traders should consider combining this indicator with other forms of analysis (like fundamental analysis or additional technical indicators) for comprehensive trading strategies.

Disclaimer:

Trading involves risk. This script is provided for informational purposes only and should not be considered as financial advice. Traders should always conduct their own due diligence and use the script in a simulated environment before applying it to live trading.
Notes de version
TheSandyBanana is a comprehensive trading indicator designed for various asset classes. It combines multiple technical analysis tools to provide buy and sell signals, aiding traders in making informed decisions. This script is suitable for traders who prefer a combination of trend-following and momentum strategies.

Features:

RSI-Based Signals: Utilizes a modified Relative Strength Index (RSI) with an extended period of 200 bars for smoothing, providing a less reactive but more stable momentum indicator.

RSI EMA: Applies an Exponential Moving Average (EMA) with a 100-bar period to the RSI, further smoothing the RSI and aiding in the identification of longer-term momentum trends.

ATR for Volatility Analysis: Employs the Average True Range (ATR) over a 100-bar period, adjusted with a multiplier of 1. This is used to gauge market volatility and filter signals based on market dynamics.

Peak and Trough Detection: Detects peaks and troughs in the RSI EMA using refined logic and a lookback period of 33 bars, helping in pinpointing potential reversal points.

Dynamic Buy and Sell Signals: Generates buy signals when a trough is identified, and the RSI is below 50, indicating potential upward momentum. Sell signals are generated at peaks when the RSI is above 50, suggesting possible downward momentum.

Alert Conditions: Includes conditions for buy and sell alerts, making it easier for traders to be notified of potential trading opportunities.

Usage:

This indicator is best suited for traders looking for a blend of trend and momentum analysis. The extended periods used in RSI and EMA calculations make this indicator more suitable for medium to long-term trading strategies. Traders should consider combining this indicator with other forms of analysis (like fundamental analysis or additional technical indicators) for comprehensive trading strategies.

Disclaimer:

Trading involves risk. This script is provided for informational purposes only and should not be considered as financial advice. Traders should always conduct their own due diligence and use the script in a simulated environment before applying it to live trading.
Notes de version
New and improved
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Added backtesting
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no buys under ema
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Added checkbox for ema filter
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Added RSI hard sell
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Updated default settings
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fix
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update
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update
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Added reason plotting
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updated colors
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Added buy if % rise after sell
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small update
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fixed small rsi filter bug
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bug fix
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improved peak and valley detection
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clean up code
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update
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cleaned up code
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update
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updated sma filter
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updated defualts
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updated defaults
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working on valley detection
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update
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update
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improved sma filter
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updated filter
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revert
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updated order and colors
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add percent gain to chart indicator
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updated buy trigger
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update
Notes de version
cleaned up code
Notes de version
updated defaults
Notes de version
cleaned up code
Notes de version
updated backtesting
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added compound gain reporting
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cleaned up code
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moved table to bottom
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allow decimals for rsi rise and decrease settings
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Updated reporting for days instead of trades
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fixed bug
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bug fix
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fixed bug
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added in trading fees a multiplied everything all inputs by 10 to make them easier to manipulate decimals
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small update
Notes de version
update
Notes de version
small update
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small update
Notes de version
small update
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small update to hard sell
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Added Hard Sell cross type
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Added different threshholds for uptrends and downtrends

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