Global Market Signals: Is the Trend Your Friend? Algorithm


This is a fully customizable strategy to help generate great trade signals as well as provide basic analysis on any market of your choice. All the trades occur at the open of a candle.

1. Long or Short
2. Look back length
3. New Highs or New Lows?
4. Trade Duration
5. Trend SMA Length
6. Above or Below Trend SMA


Using a Daily SPY chart.

The Default Settings are:
1. Long
2. 10
3. New Lows
4. 5
5. 200
6. Above

What this means is that you will be going long when there is a new 10 day lowest close, you'll hold the trade for 5 days, and the trades only occur above the 200 day simple moving average.

**When you test your settings, make sure that in the Properties tab, you have the "Order Size" set at 100 and in the drop down menu to the right, make sure "% of equity" is selected.**
Protected script
This script is published closed-source but you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.

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.

Want to use this script on a chart?