This is a port of a famous MT4 indicator, as requested by user @maximus71. This indicator uses MACD/BB to track trend direction and strength. Author suggests using this indicator on 30mins.
Explanation from the indicator developer:
"Various components of the indicator are:
Dead Zone Line: Works as a filter for weak signals. Do not trade when the red or green histogram is below it.
Histograms: - Red histogram shows the current down trend. - Green histogram shows the current up trend. - Sienna line shows the explosion in price up or down.
Signal for ENTER_BUY: All the following conditions must be met. - Green histo is raising. - Green histo above Explosion line. - Explosion line raising. - Both green histo and Explosion line above DeadZone line.
Signal for EXIT_BUY: Exit when green histo crosses below Explosion line.
Signal for ENTER_SELL: All the following conditions must be met. - Red histo is raising. - Red histo above Explosion line. - Explosion line raising. - Both red histo and Explosion line above DeadZone line.
Signal for EXIT_SELL: Exit when red histo crosses below Explosion line. "
All of the parameters are configurable via options page. You may have to tune it for your instrument.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. يمكنك جعله مفضلاً لاستخدامه على الرسم البياني.
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