OPEN-SOURCE SCRIPT

Price Action Signals V2

Diupdate

Indicator that shows buy/sell signals based on price action and volume as it relates to a double EMA. If the candle is above the double EMA, we look for candles with long wicks on the top indicating selling pressure. If the candle is below the double EMA , we look for candles with a long bottom wick indicating buying pressure. The user defined parameters are the length of the double EMA and the length of the volume moving average. Lower timeframes such as 5 minutes and lower are better off using lower lengths while higher timeframes should user higher lengths. Your mileage will vary.

Note, while this indicator can signal the beginning of long term trends, it will also signal minor retracements. Do not blindly buy or sell based on a signal appearing, pay attention to where the candle is in the overall trend and wait for confirmation to avoid losses.

Catatan Rilis

Chart update to show intraday.

Catatan Rilis

Changed default setting for showing the Double EMA and commented out plots that aren't needed.

Catatan Rilis

Made some updates for more granular control. There's now a spread you can choose for candles to determine what makes a candle large, an irregular body setting to determine what you consider to be an irregular candle spread on large volume. I also changed the default set up for intraday trading.

- Fixed bug with plot showing at bottom of the chart, which was squishing the entire chart.

Catatan Rilis

Added notes for the colors of arrows. Red and green candles denote strong market movement, purple arrows denote weakness and possible reversals.

Catatan Rilis

Removed candle color condition for more accurate results.

Catatan Rilis

Added check to make sure that we don't put two arrows on one candle.

Catatan Rilis

Finally got rid of the moving average separator. Purple arrows now mean small spread OR low volume with strong price action.

Catatan Rilis

Added the ability to remove irregular arrows from display to keep indicator more clean. Also changed default settings.

Catatan Rilis

Added high volume condition to irregular bodies.

Catatan Rilis

Updated chart

Catatan Rilis

Had to remove extra indicator for new chart

Catatan Rilis

Fixed bug that caused a buy arrow and sell arrow to show up at the same time.

Skrip open-source

Dengan semangat TradingView yang sesungguhnya, penulis skrip ini telah menerbitkannya sebagai sumber terbuka, sehingga para trader dapat memahami dan memverifikasinya. Hormat untuk penulisnya! Anda dapat menggunakannya secara gratis, namun penggunaan kembali kode ini dalam publikasi diatur oleh Tata Tertib. Anda dapat memfavoritkannya untuk digunakan pada chart

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