* Price makes a new 50 day high,
* The MACD-line crosses above or is above the Signal-line.
* Both the MACD and the Signal-lines are above the zero-line.
* Price makes a new 50 day low,
* The MACD-line crosses below or is below the Signal-line.
* Both the MACD and the Signal-lines are below the zero-line.
The initial and the trailing stoploss are 4 ATRs away from the price.
Changed entrycondition3 = macd and signal >/< hist to 0
Increased the pyramiding amount to 4 from 3
Added a visual ATR trailing stop, so you know where to put your stoploss.
Improved the stoploss multiplier.
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.