OPEN-SOURCE SCRIPT
Schaff Trend Cycle + Double MA
This strategy uses two different moving averages to determine a trend. It opens a position on a pullback from a trend.
Conditions for buy signal are:
►Crossover out of Shaff Trend Cycle's extreme levels
►The price is above its short period exponential moving average.
►A short period exponential moving average is above a long period exponential moving average.
*Conditions for sell are the opposite.
All in all, I don't think it needs to be on your chart but it can be optimized and even successful on some timeframes.
Shaff Trend Cycle solution was provided by everget, I converted his script to Pine v.4, added exponential averages and created an algorithm for backtesting.
Conditions for buy signal are:
►Crossover out of Shaff Trend Cycle's extreme levels
►The price is above its short period exponential moving average.
►A short period exponential moving average is above a long period exponential moving average.
*Conditions for sell are the opposite.
All in all, I don't think it needs to be on your chart but it can be optimized and even successful on some timeframes.
Shaff Trend Cycle solution was provided by everget, I converted his script to Pine v.4, added exponential averages and created an algorithm for backtesting.
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