The least square moving average ( ) calculates the least squares regression line for the preceding time periods, thus leading to forward projections from the current period.
I find out that combining them both can make a nice strategy adapted for major pairs like GBPUSD , EURUSD and others on 1h time frames.
For calculations I am using 1 day previous high and low (24 candles of 1h) and 50 candles for moving average(in my opinion one of the best moving averages length)
For long : Actual low is higher than previous and previous is lower than second previous
At the same time I am lookling that current close price is above the moving average
For short: Actual high is low than previous and previous is higher than second previous
At the same time I am lookling that current close price is below the moving average
This strategy has no risk management inside, so use it with caution.
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 a publication is governed by House Rules. You can favorite it to use it on a chart.
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