OPEN-SOURCE SCRIPT

PowerXYZ Strategy (PowerX Modified)

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This script modifies the PowerX strategy in the following ways:

- there are two types of 'black' bars, yellow and black; the bars that are colored black indicate the flip of the RSI from positive to negative, and vise versa, while the signal is also near to green or red color; the close of these bars are a strong indication of support or resistance, and the previous closes behind these bars create S&D zones.

- compares the typical price to the 4-period smoothed moving average to generate yellow bars sooner at the end of trends.

- uses a signal line of > 49 and <= 49 instead of 50.

Yellow indicates that you should probably move your stop closer to the current price.

Black indicates that you should probably exit and look for a new entry, as it is a strong area of support or resistance.

Pernyataan Penyangkalan

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