OPEN-SOURCE SCRIPT
[blackcat] L2 Reversal Labels Strategy
Level: 2
Background
There is a Chinese proverb that says: "The great way leads to simplicity". This indicator is the representative of this meaning. Through the processing of the most common MACD indicator data, it is possible to quickly determine the market price: whether the current price is at a historical high or low, whether a reversal will happen soon, etc. at a glance.
Function
This is the strategy version of the same indicator which performs screening and filtering through the fast and slow line data corresponding to the output of the standard MACD indicator, so as to realize the function of judging the top and bottom of the trend.
Inputs
N/A
Key Signal
Near Top --> Top is reached and reversal may happen soon. (red labels)
Near Bottom --> Bottom is reached and reversal may happen soon. (green labels)
Remarks
The backtest result is picked up and optimized for BTCUSD '2D' time frame, it does not work constantly well for any time frame. You need to combine other indicators for other trading pair and time frame.
You can add alerts for this version.
This is a Level 2 free and open source indicator.
Feedbacks are appreciated.
Background
There is a Chinese proverb that says: "The great way leads to simplicity". This indicator is the representative of this meaning. Through the processing of the most common MACD indicator data, it is possible to quickly determine the market price: whether the current price is at a historical high or low, whether a reversal will happen soon, etc. at a glance.
Function
This is the strategy version of the same indicator which performs screening and filtering through the fast and slow line data corresponding to the output of the standard MACD indicator, so as to realize the function of judging the top and bottom of the trend.
Inputs
N/A
Key Signal
Near Top --> Top is reached and reversal may happen soon. (red labels)
Near Bottom --> Bottom is reached and reversal may happen soon. (green labels)
Remarks
The backtest result is picked up and optimized for BTCUSD '2D' time frame, it does not work constantly well for any time frame. You need to combine other indicators for other trading pair and time frame.
You can add alerts for this version.
This is a Level 2 free and open source indicator.
Feedbacks are appreciated.
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.
¿Quiere utilizar este script en un gráfico?
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