OPEN-SOURCE SCRIPT
WMA Combo Crossover V2
Before I begin I want to mention:
1. This is an upgrade of my indicator WMA Combo Crossover. (Link: tradingview.com/script/X8qcB...)
2. The upgrade was inspired from the CCI and Bollinger Bands indicator by matsu_bitmex. (Link: tradingview.com/script/IkciC...)
3. I have combined the indictor with Bollinger Bands , coloring those sections as yellow, to increase winning trades as well as avoid losing trades by spotting potential reversals with the aid of news avoidance
4. This indicator is designed primarily for NNFX (No Nonsense Forex) though it can be used for any type of trading style
5. Also, I want to thank kurtisbu for helping me out. Thank you!
The indicator:
1. When WMA 25 is blue and is going upwards, it means there is an uptrend
2. When WMA 25 is red and is going down, it means there is a downtrend
3. During a trend, the color may switch to red and blue occasionally. When the color switches back to the direction of the trend, it can be used for re-entries
4. All trades based on the yellow color MUST be during a trend
5. When the color changes to yellow that means price is very volatile and only on the 1st candle is it advisable to enter a trade. (I have not backtested entering on the 2nd candle of a yellow color change)
6. During a trend, when the color changes to yellow and there is an incoming news event, then the chances of a reversal increase and I recommended avoid entering
1. This is an upgrade of my indicator WMA Combo Crossover. (Link: tradingview.com/script/X8qcB...)
2. The upgrade was inspired from the CCI and Bollinger Bands indicator by matsu_bitmex. (Link: tradingview.com/script/IkciC...)
3. I have combined the indictor with Bollinger Bands , coloring those sections as yellow, to increase winning trades as well as avoid losing trades by spotting potential reversals with the aid of news avoidance
4. This indicator is designed primarily for NNFX (No Nonsense Forex) though it can be used for any type of trading style
5. Also, I want to thank kurtisbu for helping me out. Thank you!
The indicator:
1. When WMA 25 is blue and is going upwards, it means there is an uptrend
2. When WMA 25 is red and is going down, it means there is a downtrend
3. During a trend, the color may switch to red and blue occasionally. When the color switches back to the direction of the trend, it can be used for re-entries
4. All trades based on the yellow color MUST be during a trend
5. When the color changes to yellow that means price is very volatile and only on the 1st candle is it advisable to enter a trade. (I have not backtested entering on the 2nd candle of a yellow color change)
6. During a trend, when the color changes to yellow and there is an incoming news event, then the chances of a reversal increase and I recommended avoid entering
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Pour un accès rapide sur un graphique, ajoutez ce script à vos favoris - en savoir plus ici.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Pour un accès rapide sur un graphique, ajoutez ce script à vos favoris - en savoir plus ici.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.