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OPEN-SOURCE SCRIPT

Investment Protector - A Rule of Thumb V1

Por sparkandhale
Actualizado
The Flash Crash of September 8 showed once more how many are falling to greed. On top of it one also add leverage to long positions. It's just insane the risk people are taking. Anyhow, for all my noobies and friends here is a very very simple indicator that shows when NOT to buy nor increase positions and when there is window of opportunities.

A few remarks:
  • This script does NOT provide trading signals
  • Merely points out windows of opportunities - candles with green background. You still need to find the entry in this area yourself. Apply geomeric Technical Analysis, use indicators or divergences.
  • Windows of opportunities can still go south, use the stop-loss! (and check for bearish divergence)
  • The script urges you NOT to trade below ema200 of the 4h timeframe, which is marked with a red background (the most smooh timeframe there is).
  • Push yourself to take profits. It is marked with on the cancles to support you. Yes, it could always go higher, but try to avoid to be in a crash (and again, use a stop-loss at all time. You can make it a generous one if you want, fine. As long as you have one.).


TA speaking:

* The scripts uses EMA and RSI only.
* Bearish divergence will be added in V2.

disclaimer: yes, not financial advise. It's educational.
Notas de prensa
V1.0.1

  • Typos, extended usecase description/purpose.
Notas de prensa
  • Updated the rules on when to show the CONSIDER and DON'T TOUCH labels.
Notas de prensa
  • Improved the CONSIDER and DON'T TOUCH LABEL (will add divergence to it to filter it even better - e.g. not to touch it after a for a longer time after a bearish divergence)
  • the EMAs are now fixed to hourly. Use the hourly timeframe for best results.
Notas de prensa
  • Updated BTC chart to make it more clear how it works
nogreedopportunityRelative Strength Index (RSI)tpTrend Analysiswindowofopportunity

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?

sparkandhale
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Exención de responsabilidad

La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.