OPEN-SOURCE SCRIPT
king
//version=5
indicator("BTC_QQQ_Crown_Indicator", overlay=true)
// 1. MACD Numbers (8, 16, 11)
[m_line, s_line, hist] = ta.macd(close, 8, 16, 11)
// 2. Engulfing Candle Logic
bull = close[1] < open[1] and open < close[1] and close > open[1]
bear = close[1] > open[1] and open > close[1] and close < open[1]
// 3. Crown Signal Condition
crownBuy = bull and hist > hist[1]
crownSell = bear and hist < hist[1]
// 4. Drawing Crowns on Chart
plotshape(crownBuy, title="Buy_Crown", style=shape.labelup, location=location.belowbar, color=color.yellow, size=size.normal, text="👑\nBUY", textcolor=color.black)
plotshape(crownSell, title="Sell_Crown", style=shape.labeldown, location=location.abovebar, color=color.red, size=size.normal, text="👑\nSELL", textcolor=color.white)
indicator("BTC_QQQ_Crown_Indicator", overlay=true)
// 1. MACD Numbers (8, 16, 11)
[m_line, s_line, hist] = ta.macd(close, 8, 16, 11)
// 2. Engulfing Candle Logic
bull = close[1] < open[1] and open < close[1] and close > open[1]
bear = close[1] > open[1] and open > close[1] and close < open[1]
// 3. Crown Signal Condition
crownBuy = bull and hist > hist[1]
crownSell = bear and hist < hist[1]
// 4. Drawing Crowns on Chart
plotshape(crownBuy, title="Buy_Crown", style=shape.labelup, location=location.belowbar, color=color.yellow, size=size.normal, text="👑\nBUY", textcolor=color.black)
plotshape(crownSell, title="Sell_Crown", style=shape.labeldown, location=location.abovebar, color=color.red, size=size.normal, text="👑\nSELL", textcolor=color.white)
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.