OPEN-SOURCE SCRIPT
Updated CTC FollowTrend
A simple trend following system. We use 2 moving average to determine trend. Green for up trend, red for downtrend. Trades are only opened on the trend direction.
In up trend, we will buy only if RSI is in oversold condition.
In down trend, we will sell only if RSI is on overbought condition.
Both of the condition are highlighted.
Keep the trading rule simple and easy, no need to be complicated.
Hope you can benefit from it.
In up trend, we will buy only if RSI is in oversold condition.
In down trend, we will sell only if RSI is on overbought condition.
Both of the condition are highlighted.
Keep the trading rule simple and easy, no need to be complicated.
Hope you can benefit from it.
Release Notes
1. Use EMA instead of SMA. 2. Plot code optimization
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.