Is the simplest of them all and easy to understand:
- It has an that you can modify to suit your pair on the chart with it's timeframe, looking at the strategy tester to compare results;
- The prices for the are taken from the OPEN of every candle (depending on your timeframe);
- If the current candle's price closes above the Average and the new candle opens above the average, it will trigger a buying signal because of the setup;
- If the current candle's price closes below the Average and the new candle opens below the average, it will trigger a selling signal because of the setup;
- No strategy works on all charts and on all timeframes so you have to feel free to modify the parameters to suit your trading setup;
- It is possible that the strategy won't give you any good results at all on some trading pairs and timeframes so be careful because it can lose money;
This strategy is called Galileo Galilei, it's free for you all to use and it was developed to be as simple as it can be and to work in or scenarios, but not in flat movements.
You can message me to ask questions, I respond to every message.
- Changed to v4
- New menu for the backtest period in settings - looks better and it's easy to use
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 a publication is governed by House Rules. You can favorite it to use it on a chart.