study(title="[RS]JR Moving Average System V1", shorttitle="[RS]JR.MAS.V1", overlay=true) hide_sl_lines = input(true) ma0 = sma(hl2, input(1)) tp = input(8) ma1 = wma(open, tp) ma2 = ema(open, tp) //--- 2nd pass tf = input(2) ma3 = wma(open, tf) ma4 = ema(open, tf) //--- 2nd pass plot output not required. plot(ma0, color=black) plot(ma1, color=gray) plot(ma2, color=silver) condition = ma0 >= ma1 and ma1 >= ma2 ? (close >= open ? lime : green) : ma0 <= ma1 and ma1 <= ma2 ? (close >= open ? red : maroon) : ma0 >= ma3 and ma3 >= ma4 ? (close >= open ? lime : green) : ma0 <= ma3 and ma3 <= ma4 ? (close >= open ? red : maroon) : (close >= open ? silver : gray) barcolor(condition) // ||--- Crossovers buyx1 = cross(ma0,ma1) and ma0 >= ma0 ? true : false sellx1 = cross(ma0,ma1) and ma0 <= ma0 ? true : false plotshape(buyx1, style=shape.arrowup, color=green, location=location.belowbar) plotshape(sellx1, style=shape.arrowdown, color=maroon, location=location.abovebar) // ||--- SL lines sltop = highest(max(max(high,ma0),max(ma1,ma2)), tp) slbot = lowest(min(min(low,ma0),min(ma1,ma2)), tp) tcol = sltop != sltop ? na : silver bcol = slbot != slbot ? na : silver plot(hide_sl_lines ? na : sltop, color=tcol, style=line) plot(hide_sl_lines ? na : slbot, color=bcol, style=line)
Daily candle on 11-16 would start day red and close green.
Daily candle on 11-28 would not change (6H was gray or green)
Daily candle on 12-06 would start of green and end green (rather than gray)
Daily candle on 12-13 would start of red and end red.
All of these were correct with the trend, when using a 6H MTF (hard signal) cross reference.
I would not make a V2 version with only this modification. There are probably other additions could make.
60/40 - 70/30 - 80/20 - 90/10
With RSI 14:50 at 90+ later breaks 80, and 70 you know price strength is weakening.