OPEN-SOURCE SCRIPT
IBB
IBB - indicator of Boris Borbot
This is my indicator, built on the basis of the classic moving average momentum and rsi indicators. The advantage of this indicator is that it has no lags like classic indicators. In addition, by virtue of its formula, it has sufficient weight so as not to react to random price fluctuations.
In addition, the indicator is constructed in such a way that there is practically no price movement against the indicator movement, i.e. if the indicator goes down, the price will either fall or remain in the corridor.
Therefore, trading signals are as follows
1.buy if the indicator goes up
2.sell if the indicator goes down
3. More complex signal.
Consider three time frames. The intervals must be independent. That is, on two consecutive intervals, the picture may turn out that on the first interval the indicator is close to zero, and on the second interval, it is close to one at the same time.
Take three consecutive intervals for example 5 minutes, 15 minutes, and one hour.
At the moment when the indicator value is close to one on all three intervals, you can fix the position, because until the indicator starts moving down in the 5-minute interval, there will most likely not be an upward movement.
More detailed comments are in the video in Russian
and will be made in English. Thank you for understanding.
This is my indicator, built on the basis of the classic moving average momentum and rsi indicators. The advantage of this indicator is that it has no lags like classic indicators. In addition, by virtue of its formula, it has sufficient weight so as not to react to random price fluctuations.
In addition, the indicator is constructed in such a way that there is practically no price movement against the indicator movement, i.e. if the indicator goes down, the price will either fall or remain in the corridor.
Therefore, trading signals are as follows
1.buy if the indicator goes up
2.sell if the indicator goes down
3. More complex signal.
Consider three time frames. The intervals must be independent. That is, on two consecutive intervals, the picture may turn out that on the first interval the indicator is close to zero, and on the second interval, it is close to one at the same time.
Take three consecutive intervals for example 5 minutes, 15 minutes, and one hour.
At the moment when the indicator value is close to one on all three intervals, you can fix the position, because until the indicator starts moving down in the 5-minute interval, there will most likely not be an upward movement.
More detailed comments are in the video in Russian
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.