MA15, MA50 with Support/Resistance, CHoCH, Trend, and Entry/Exit

2 ago

a comprehensive indicator that includes moving averages (MA), support and resistance levels, Change of Character (CHoCH) detection, trend identification, and entry/exit signals. Here's a breakdown of its components:

Input Parameters:

ma15_length and ma50_length: Lengths for the moving averages.
lookback: Period for detecting support and resistance levels.
Moving Averages:

ma15 and ma50 are simple moving averages with lengths defined by the user.
Support and Resistance Levels:

The script identifies swing highs and lows to update support and resistance levels.
These levels are plotted using extended lines for visualization.
Change of Character (CHoCH):

CHoCH up is detected when ma15 crosses above ma50.
CHoCH down is detected when ma15 crosses below ma50.
Corresponding signals are plotted on the chart.
Trend Identification:

An uptrend is confirmed when ma15 crosses above ma50 and the close price is above ma50.
A downtrend is confirmed when ma15 crosses below ma50 and the close price is below ma50.
Background colors are used to highlight uptrend (green) and downtrend (red).
Entry and Exit Signals:

Buy signals are generated when CHoCH up occurs, and the price pulls back to support during an uptrend.
Sell signals are generated when CHoCH down occurs, and the price pulls back to resistance during a downtrend.
These signals are plotted on the chart.
Alerts:

Alerts are set up to notify the user when a buy or sell signal is detected.