This is a fantastic tool to detect convergence between the following indicators :
Overlay - meaning if the price close above/below the SMA 50
Trend Signal - to detect if the the DOW law is broken and predict a possible reversal - en.wikipedia.org/wiki/Dow_theory In other words, it detects if the higher highs or lower lows sequence is broken
MACD or MACD Zero Lag
MM Cross - Cross of moving averages
Ichimoku - if the price closes below/above the cloud
Supertrend - used to detect polarity zones
TSI Shadow - propieraty indicator - URL : tradingview.com/script/0lBK9IBY-TSI-Shadow/
It's ultra flexible as you check which indicator you need in your own strategy. That's why I called it the Ultimate Algorithm Builder
Enjoy Dave
Release Notes
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I've been asked to ad the pullback. What community asks, community gets for FREE :) Pullback added in the parameters. Sometimes after a signal, you might want to get a pullback on a specific Moving Average to : - reduce your loss in case you'll be invalidated - increase your gain as you'll get a better entry Of course this feature is optional but still a nice to have in your trading toolkit
If you want me to add any sub-indicator in this one or if you have any question, please ask in the comments section