it reads the as well which you could see it on the background color.
once the price closed over the green line then you can make a long order (buy) and the stop loss if the price closed under the red line, and vice versa.
the black line is just to make it as additional level
Long ==> price closed over black and green lines ### stop loss if price closed under the black and red lines
short ==> price closed under black and red lines ### stop loess if price closed over the black and green lines.
Background refers to the movements so if it's green means people are buying and if red means selling.
I attached and special moving average indicator so you can make them as levels once you see price is closing to one of them.
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact indicator-vip for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Public Library.
Warning: please read before requesting access.