MA Support & Resistance Signal

١٨ سبتمبر ٢٠٢٣

This indicator is to show MA Support/Resistance and trend of a stock.

It contains three (3) Moving Averages that can be set to SMA or EMA:
1. Upper Line: SMA 5 (default)
2. Lower Line: SMA 20 (default)
3. Support/Resistance Line: SMA 10 (default)

Other signals:
1. Bull and Blue Dotted Line signal: Upper Line (SMA 5) crossover with Lower Line (SMA 20).
2. Bear and Red Dotted Line signal: Lower Line (SMA 20) crossover with Upper Line (SMA 5).
3. Red Triangle signal: Price closes below Support/Resistance Line (SMA 10).
4. Green Bar signal: Price breaks Support/Resistance Line (SMA 10).

The way how I use it:
- Since I don't like my chart to be crowded with a lot of moving averages, I will disable SMA 5 and SMA 10 and will only leave SMA 20 as my final support line.
- Entry when only:
1. Bull signal appeared.
2. Green bar appeared, or;
3. Price rebound on SMA 20.

I let the script open so that you guys can custom it based on your own preferences. Hope you guys enjoy it.

٢٢ يونيو

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Update Script: Include label display for MA Price

٣ يوليو

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Latest update:

Price label color for SMA has been changed from RED to TRANSPARENT