BB + ST Script

11 lis 2020

Hi everyone, this great and simple BUY & SELL indicator is based on EMA, SMA along with Super Trend. This indicator is most useful in trending and range bounding modes, and gives a lot of useful information on any market condition at a glance. It will perfectly catches the Intraday, short term and long term in trends at all stocks, indexes at all time frames.

Indicator Description:
This study script was developed with a combination of the most popular trading algorithms like EMA, SMA & few other important settings (mentioned below) that work together to ensure that to generate only the most reliable and accurate BUY SELL signals!

Indicators used to create this study script is as follows:
- Exponential Moving Average (EMA)
- Super Trend
- Simple Moving Average (SMA)

Please read all points below for better understanding of how this study script works. I'll make it very simple and easy to understand.

When to take position :
BUY and SELL signals are generated based on popular trading algorithms using EMA.
Whenever candle breaks the EMA price upside, BUY Signal will come means take Buy position, and if the candle breaks the EMA price downside, SELL Signal will come means take Sell position.
Apart from this, you will see the Green and Red colored bands. The Green colored band indicates market is in Up Trend and will go further up. And the Red colored band indicates market is in Down Trend and will further go down. The wider the band indicates trend is strong, & if bands width is getting narrow means trend is fading - Get out of trade at that time.

Purple Colored line decides the Trend as:

• If the candles forming above the line indicates “UP Trend”
  
• If the candles forming below the line indicates “Down Trend”
  
• If the candles forming on the line indicates “Narrow range or Sideways”
  
  

[ Note 1: Take Buy position, only if candle breaks the high of the alert candle ]
[ Note 2: Take Sell position, only if candle breaks the low of the alert candle ]

Features:
- 13 MAs and 1 Super Trend in one Indicator
- Gives accurate signals on precise time
- Quickly identifies the Trend, whether it is an uptrend or downtrend or Range bound

Timeframes:
This indicator reacts dynamically, so the levels will look different on different timeframes. The hourly chart works best from my experience, but in general lower timeframes like 5, 10, 15 minutes will give a more accurate picture during extreme price action. Larger time frames like the Daily chart are also useful for long term.

Settings:
I have configured the default settings to perform well, but I allow the user to change settings as they desire.

• Length - this setting changes the length, by default it is set to 20.
• Multi - this setting changes the Multiplier, by default it is set to 1.
• Period - this setting changes the Period, by default it is set to 10.
• source - this setting changes the Source, by default it is set to ‘close’.
• Open Line and Close Line Color - this setting changes the color of the lines.
• UpArrow and DownArrow - This enables basic trend signals to be shown by lime and red arrows.
• Show Base - This enables Base line to be shown in Purple color.
• Show Buy Sell Signals - This enables basic Buy Sell signals to be shown by red and green labels.
• Fill Color - this setting changes the fill color used for the indicator Show Up Trend/Down Trend - ticking this box results in the fill color changing to green when the trend is Up and red when the trend is Down.

IMPORTANT: This script does not generate exit signals and those should be find using money management rules or else.

Try it! Good luck and Happy trading!