This study shows the price action strength using RSI & Moving Averages.
In this study different line indicates below measures---
BlackLine - Strength Red Line - Volume GreenLine - Price
1. Volume line is below price and strength then the price may go up. 2. Volume line is above price and strength then the price may go down. 3. Volume line below strength line price may stop going down. 4. Price line above strength then price may go down.
There is a total of 2 zones that indicate the price strength in the red zone price is showing strength ness and in the blue zone, the price is showing weakness.
This study helps to identify if the price is having strength or not if going up or down based on volume.\
Strategy give signal based on above-mentioned line as follows.
Buy - Strength line above volume & price line + Price line crossover Volume line. Sell - Strength line below volume & price line + Price line crossunder Volume line.
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Minor Improvements
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Pine v5
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Added a new feature - Now user can on/off entry based on Price-SMA Crossover and HM positive or negative.
When it ON, It will only generate a signal when Price cross above or below the SMA line and HM in positive and negative respectively. When it OFF, it will as usual generate a signal based on HM lines without considering SMA.