// Script created by JoinFree
// BuySellSignal for Forex traders
// Buy Long when you see a Green colour bar
// Sell Short when you see a Red colour bar

// BollingerBands added for reference
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study(title="GreenRedSignal", shorttitle="BuySellSignal", overlay=true)
// Script created by JoinFree
// BollingerBands added for reference
// Buy Long when you see a Green colour bar 
// Sell Short when you see a Red colour bar
mysignal = ema(close, 12) - ema(close, 26)
barcolor(mysignal[0] > mysignal[1] ? green : red)
source = close
length = input(20, minval=1), mult = input(2.0, minval=0.001, maxval=50)
basis = sma(source, length)
dev = mult * stdev(source, length)
upper = basis + dev
lower = basis - dev
plot(basis, color=red)
p1 = plot(upper, color=blue)
p2 = plot(lower, color=blue)
fill(p1, p2)
This is a good script. What is the actual formula? It looks like a variation of Heikin Ashi candles.
+1 Reply
please there are three prices how i can determined which for sell and which for buy?
thank you in Advance
+15 Reply
Does it work from 1 minute to 5 years time frame?
+11 Reply
Well, just out of curiosity, a positive default MACD would do this job - correct?
+5 Reply
Good strategy for Forex scalping, works on all time frames.
+6 Reply
sjcwealth joinfree
From 1 minutes to 5 years?
+1 Reply
sjcwealth joinfree
From 1 minute to 5 years?
CollbySoow joinfree
@joinfree, how does this work?
+6 Reply
outomyelement CollbySoow
@CollbySoow, I'm also interested in what the actual formula is behind this?
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