OPEN-SOURCE SCRIPT
Smartfox: DEMA50 + DEMA200 + MSS + OB
What does this script do?
1. It looks for a Market Structure Shift after a breakout of the DEMA50.
2. The breakout must have a full candle close above or below the DEMA50.
3. As additional confirmation, the script checks for an Order Block.
4. If these conditions are met, an orange (bearish) or blue (bullish) signal is displayed.
5. If all the above conditions are met plus a breakout of the DEMA200, a red (bearish) or green (bullish) signal is displayed.
How do I use this script?
Through my testing, I have noticed the significant role of DEMA50 and DEMA200. The price often returns to these levels for a retest and frequently uses them as support or resistance. The above rules serve as additional confirmation for a solid trade. I use it as follows:
1. Draw support and resistance lines on higher timeframes, typically the 1-hour and 4-hour charts.
2. Look for the displayed signals on the 15-minute timeframe when the price reaches these key levels.
3. Check if there is an open GAP and determine whether a retest of the DEMA50 is likely to occur.
4. For blue and orange signals, I take a scalp trade toward the next support or resistance level.
5. For red or green signals, I also consider a swing trade, as the reversal is now confirmed by both the DEMA50 and DEMA200.
Of course, there are no guarantees of success, but this method has shown a proven track record when following these rules. 🚀📈
1. It looks for a Market Structure Shift after a breakout of the DEMA50.
2. The breakout must have a full candle close above or below the DEMA50.
3. As additional confirmation, the script checks for an Order Block.
4. If these conditions are met, an orange (bearish) or blue (bullish) signal is displayed.
5. If all the above conditions are met plus a breakout of the DEMA200, a red (bearish) or green (bullish) signal is displayed.
How do I use this script?
Through my testing, I have noticed the significant role of DEMA50 and DEMA200. The price often returns to these levels for a retest and frequently uses them as support or resistance. The above rules serve as additional confirmation for a solid trade. I use it as follows:
1. Draw support and resistance lines on higher timeframes, typically the 1-hour and 4-hour charts.
2. Look for the displayed signals on the 15-minute timeframe when the price reaches these key levels.
3. Check if there is an open GAP and determine whether a retest of the DEMA50 is likely to occur.
4. For blue and orange signals, I take a scalp trade toward the next support or resistance level.
5. For red or green signals, I also consider a swing trade, as the reversal is now confirmed by both the DEMA50 and DEMA200.
Of course, there are no guarantees of success, but this method has shown a proven track record when following these rules. 🚀📈
Skrypt open-source
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 publications is governed by House rules. Możesz go oznaczyć jako ulubione, aby użyć go na wykresie.
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