Johnman

therebel Magic System

581 3 50
Simple programming exercise of the system described by /u/therebel.
Signals MACD crossover on price above and below EMA 200 (blue for longs, red for shorts).
You should wait for the candle to close before considering the signal. And always check the fundamentals.

Risk less than 2% per trade, allow winners to run using a trailing stop.
When the market has proved you wrong exit with out any hesitation. This is key.

Might be useful for someone, but don't take it too seriously. If I might add something, I think a good trailing stop can be the previous candle wick.
Remove from Favorite Scripts Add to Favorite Scripts
// Simple programming exercise as described by therebel
// Signals MACD crossover on price above and below EMA 200

study("therebel Magic System", overlay=true)
movingAverage = ema(close, 200)
color1 = close > movingAverage ? blue : red
[macdLine, signalLine, histLine] = macd(close, 12, 26, 9)
signalUp = macdLine[1] < signalLine[1] and macdLine[0] > signalLine[0] and close > movingAverage
signalDown = macdLine[1] > signalLine[1] and macdLine[0] < signalLine[0] and close < movingAverage
plotshape(signalUp, style=shape.labelup, color=blue)
plotshape(signalDown, style=shape.labeldown, color=red)
MIchaelTran
2 years ago
Thank you a lot for sharing, I love this , simple = work
Reply
Ice_
2 years ago
Omg, you giving that for free? I bought that for $ 999.99!
+1 Reply
Johnman Ice_
2 years ago
I'm working on an improved version. I have a couple of overseas buyers lined up. Thing is worth millions!
+1 Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out