OPEN-SOURCE SCRIPT
Monster Breakout Index
Zaktualizowano
This is the coolest indicator I have ever made to date so far.
The Monster Breakout Index is a completely original idea that I came up with.
MBI is a breakout indicator with one parameter. MBI lives up to its name because of how robust the index is. It gives very little signals, which means that the signals that it does generate are very high quality.
How to Interpret:
Green - Buy
Red - Sell
Would you like to know how this indicator works?
Of course you do! Well here it is...(in steps):
1) Calculate the median price (hl2 price) of each bar over n periods (n is the parameter).
2) Is the current bar's close higher than the highest median? Yes = Buy signal , No = proceed to step 3
3) Is the current bar's close lower than the lowest median? Yes = Sell signal , No = No signal
Recommended setting: 12
If you found this indicator, good job because its a true force to reckon with, its what I would call.....a monster.
Good luck traders, and hit the like button!
The Monster Breakout Index is a completely original idea that I came up with.
MBI is a breakout indicator with one parameter. MBI lives up to its name because of how robust the index is. It gives very little signals, which means that the signals that it does generate are very high quality.
How to Interpret:
Green - Buy
Red - Sell
Would you like to know how this indicator works?
Of course you do! Well here it is...(in steps):
1) Calculate the median price (hl2 price) of each bar over n periods (n is the parameter).
2) Is the current bar's close higher than the highest median? Yes = Buy signal , No = proceed to step 3
3) Is the current bar's close lower than the lowest median? Yes = Sell signal , No = No signal
Recommended setting: 12
If you found this indicator, good job because its a true force to reckon with, its what I would call.....a monster.
Good luck traders, and hit the like button!
Informacje o Wersji
Added short title "MBI" & renamed setting to "Period".Skrypt open-source
W prawdziwym duchu TradingView autor tego skryptu opublikował go jako open source, aby inwestorzy mogli go zrozumieć i zweryfikować. Pozdrowienia dla autora! Możesz go używać bezpłatnie, ale ponowne użycie tego kodu w publikacji podlega Zasadom Regulaminu. Możesz go oznaczyć jako ulubione, aby użyć go na wykresie.
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