This is a script I made which uses 6 moving averages to decide how to color the trend. These SMA are configured to run on 4H, 6H, 8H, 12H, 18H and 1D timeframes. The script will check how many of them are bullish or bearish.
I made this script to reference the current market environment while working on the lower time frames. You are free to use it as a filter in any script as long as you mention me in the description of it.
. . . . . . . .
GREEN: If many SMAs are bullish, the snake will be completely green. If there is a green glow around it that means that all SMAs are bullish.
RED: If many SMAs are bearish, the snake will be completely red. If there is a red glow around it that means that all SMAs are bullish.
PURPLE: Purple will be used to indicate that some SMAs are not in the trend the snake was going.
MID: The small blue line in the middle of the snake means that the 1day trend is bullish. The small magenta line in the middle of the snakes means that the 1 days trend is bearish.
發布通知
⋅
Based my original script on vumanchu B+ but the only thing I actualy used was the idea of using SMA's plotted on different timeframes. I removed all the leftover code from the original Vumanchu as the snake trend does not have anything to do with it and everything used in the script is written by me. I also made a much more sophisticated version of this script called snake trend premium. This will stay the free open source version.
發布通知
⋅
Republished as I had all my indicators open including a paid one while publishing which is not supported by the advertising and publishing rules.
Great script, thanks for creating this. Is it possible to put alerts on it? e.g. an alert for when the 1 day trend turns blue/magenta and an alert for when the 'all SMA's' line goes bullish or bearish (glows). I'm guessing that it's possible with the premium version as you could set an alert for the 'strength value' to reach a certain number such as 8 or -8. The page for the premium version says that it's no longer available, do you plan on granting access to it again in the future? Thanks!
Honestcowboy
⋅
@ChrisDayTrader, I backtested a strategy with the strength value at 8 or -8 and it did not give me the results I wanted to. Problem is, usualy when on multiple timeframes the moving averages slope upwards price already is at a high point and usualy dumps couple bars after signal or even on the signal. However did not test strategys with numbers like 5-7 etc. The script has alerts but not for every strength value, I will update that and give options for better customisation for the alerts (they where not my main goal at first as I do not think the script can be used for botting).
The indicators I make are an attempt at creating a fully working strategy which I have failed in many times. Stopped my premium subscription because costs where getting high and think that might be the reason script is no longer visible. I hope I'm able to update the snake trend premium further on my non premium account as I would like to give you permission. Feedback is greatly appreciated and working strategies with the script even more. :)
Honestcowboy
⋅
@ChrisDayTrader, I checked my page on a different computer and the script was visible. The reason it is not available is because it is an invite only script. Sadly with my current subscription I no longer can grant access to users. For now Ill just keep working on scripts on my free account. Once I have a couple scripts that are completely finished will get back on premium account.