OPEN-SOURCE SCRIPT
BBO_Roxana_Signals MACD + vol
Description of BBO_Roxana_Signals MACD + vol Script
This script is designed to provide trading signals based on a combination of the MACD (Moving Average Convergence Divergence) indicator and volume analysis. Here's a systematic breakdown of how the script functions:
Volume Accumulation Check:
The script first accumulates volume data over time. It ensures that there's volume data available for analysis. If no volume data is provided, it generates a runtime error.
MACD Calculation:
The script calculates the MACD indicator using the provided parameters, including fast and slow lengths for exponential moving averages (EMA), as well as signal smoothing.
It computes the fast and slow EMAs, calculates the MACD line by subtracting the slow EMA from the fast EMA, and then computes the signal line.
Volume Oscillator Calculation:
It calculates a volume oscillator by computing the difference between short and long EMAs of volume and then normalizing the result to a percentage.
Signal Generation:
Long signals are generated when there's a crossover of the MACD line above the zero line and the volume oscillator is above the zero line. These are marked on the chart with upward green triangles.
Short signals are generated when there's a crossunder of the MACD line below the zero line and the volume oscillator is above the zero line. These are marked on the chart with downward red triangles.
Alerts:
The script also provides alerts for long signals, short signals, and combined signals. These alerts can be used for automated trading or as notifications for manual trading decisions.
Recommendation:
This script should be used in conjunction with other technical analysis tools and trend analysis for comprehensive trading decisions.
It's advisable to backtest the strategy on historical data before deploying it in live trading to evaluate its effectiveness and suitability for your trading goals.
By integrating MACD analysis with volume analysis, the script aims to provide signals based on both momentum and volume trends, offering a more comprehensive approach to trading decision-making.
This script is designed to provide trading signals based on a combination of the MACD (Moving Average Convergence Divergence) indicator and volume analysis. Here's a systematic breakdown of how the script functions:
Volume Accumulation Check:
The script first accumulates volume data over time. It ensures that there's volume data available for analysis. If no volume data is provided, it generates a runtime error.
MACD Calculation:
The script calculates the MACD indicator using the provided parameters, including fast and slow lengths for exponential moving averages (EMA), as well as signal smoothing.
It computes the fast and slow EMAs, calculates the MACD line by subtracting the slow EMA from the fast EMA, and then computes the signal line.
Volume Oscillator Calculation:
It calculates a volume oscillator by computing the difference between short and long EMAs of volume and then normalizing the result to a percentage.
Signal Generation:
Long signals are generated when there's a crossover of the MACD line above the zero line and the volume oscillator is above the zero line. These are marked on the chart with upward green triangles.
Short signals are generated when there's a crossunder of the MACD line below the zero line and the volume oscillator is above the zero line. These are marked on the chart with downward red triangles.
Alerts:
The script also provides alerts for long signals, short signals, and combined signals. These alerts can be used for automated trading or as notifications for manual trading decisions.
Recommendation:
This script should be used in conjunction with other technical analysis tools and trend analysis for comprehensive trading decisions.
It's advisable to backtest the strategy on historical data before deploying it in live trading to evaluate its effectiveness and suitability for your trading goals.
By integrating MACD analysis with volume analysis, the script aims to provide signals based on both momentum and volume trends, offering a more comprehensive approach to trading decision-making.
Skrypt open-source
W zgodzie z duchem TradingView twórca tego skryptu udostępnił go jako open-source, aby użytkownicy mogli przejrzeć i zweryfikować jego działanie. Ukłony dla autora. Korzystanie jest bezpłatne, jednak ponowna publikacja kodu podlega naszym Zasadom serwisu.
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
Skrypt open-source
W zgodzie z duchem TradingView twórca tego skryptu udostępnił go jako open-source, aby użytkownicy mogli przejrzeć i zweryfikować jego działanie. Ukłony dla autora. Korzystanie jest bezpłatne, jednak ponowna publikacja kodu podlega naszym Zasadom serwisu.
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.