Market Cipher is a famous strategy - indicator developed by many contributors on Tradingview. I take no credits, I studied open source scripts and it's logic, modded a few stuff and hyper optimized it to work nicely to avoid some of the false signals that original indicators give you.
Thanks to LazyBear for WaveTrend Oscillator Thanks to RicardoSanto for RSI Divergence Thanks to LucemAnb for Stochastic Divergence Thanks to vumanchu for VuManChu Cipher B + Divergences
Strategy uses a few technical indicators to provide a comprehensive market analysis framework. I am combining more indicators than others: WaveTrend, RSI, Stochastic RSI, VWAP, EMA, SMA and MoneyFlow indicators. Strategy is identifying market trends, potential reversals and trading opportunities.
WaveTrend Channel The core of this script is the WaveTrend indicator, which uses the smoothed average of typical price to identify overbought and oversold conditions. 2 Waves are calculated to track market momentum and cyclical price movements. Major Divergences - Strong Signals: The script detects and highlights major bullish and bearish divergences automatically and signal your trades.
Release Notes
Changed Overbought/Oversold inputs to make it clearer and more comprehensible. Oscillator ranges from -100 to +100. I recommend you to buy around -80 to -60 I recommend you to sell around +60 to +80
Release Notes
Added Swing Mode on/off for alerts. You are able to use strategies on any exchange now. -added some plot lines that were missing for TP and SL
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