This custom indicator helps traders identify key buy and sell signals based on the crossover of price and a customizable moving average (MA). It combines trend direction, momentum, and volume to provide accurate entry signals with dynamic visual cues.
Features: - Customizable Moving Average (MA): Choose from various MA types such as SMA, EMA, HMA, and more. - Buy & Sell Signals: Signals are generated based on strong trend momentum and volume, with the addition of crossovers from a moving average. - Background Coloring: The chart background turns green when in an uptrend and red during a downtrend, offering a quick visual guide to market conditions. - Volume Confirmation: Signals are validated with volume filters to ensure strong market participation. - Alerts: Set alerts for buy and sell signals to receive real-time notifications.
How It Works: Buy Signal: Triggered when the price is above the selected MA, with bullish momentum (closing more than 0.5% higher than the open), and accompanied by a volume spike. Sell Signal: Triggered when the price is below the selected MA, with bearish momentum (closing more than 0.5% lower than the open), and a corresponding volume surge.