OPEN-SOURCE SCRIPT
robotrading trendweek
The blue line is the closing price of the week.
Strategy
If the price is above the blue line - this is uptrend.
If the price is below the blue line - it is downtrend.
If the low candlestick is above the line - you should open a long position (and close a short position, if open).
If the high candle is below the line - you should open a short position (and close a long position, if open).
Reverse trading.
Crossing
A crossing is defined as an event, when the whole candle is above the line (high > line), or below the line (low < line). This method greatly reduces the number of false signals.
Strategy
If the price is above the blue line - this is uptrend.
If the price is below the blue line - it is downtrend.
If the low candlestick is above the line - you should open a long position (and close a short position, if open).
If the high candle is below the line - you should open a short position (and close a long position, if open).
Reverse trading.
Crossing
A crossing is defined as an event, when the whole candle is above the line (high > line), or below the line (low < line). This method greatly reduces the number of false signals.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.