OPEN-SOURCE SCRIPT
Actualizado Monster Breakout Index
This is the coolest indicator I have ever made to date so far.
The Monster Breakout Index is a completely original idea that I came up with.
MBI is a breakout indicator with one parameter. MBI lives up to its name because of how robust the index is. It gives very little signals, which means that the signals that it does generate are very high quality.
How to Interpret:
Green - Buy
Red - Sell
Would you like to know how this indicator works?
Of course you do! Well here it is...(in steps):
1) Calculate the median price (hl2 price) of each bar over n periods (n is the parameter).
2) Is the current bar's close higher than the highest median? Yes = Buy signal , No = proceed to step 3
3) Is the current bar's close lower than the lowest median? Yes = Sell signal , No = No signal
Recommended setting: 12
If you found this indicator, good job because its a true force to reckon with, its what I would call.....a monster.
Good luck traders, and hit the like button!
The Monster Breakout Index is a completely original idea that I came up with.
MBI is a breakout indicator with one parameter. MBI lives up to its name because of how robust the index is. It gives very little signals, which means that the signals that it does generate are very high quality.
How to Interpret:
Green - Buy
Red - Sell
Would you like to know how this indicator works?
Of course you do! Well here it is...(in steps):
1) Calculate the median price (hl2 price) of each bar over n periods (n is the parameter).
2) Is the current bar's close higher than the highest median? Yes = Buy signal , No = proceed to step 3
3) Is the current bar's close lower than the lowest median? Yes = Sell signal , No = No signal
Recommended setting: 12
If you found this indicator, good job because its a true force to reckon with, its what I would call.....a monster.
Good luck traders, and hit the like button!
Notas de prensa
Added short title "MBI" & renamed setting to "Period".Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.