OPEN-SOURCE SCRIPT
DPO RMA STRATEGY
This strategy uses tradingview's built-in "Detrended Price Osciilator" ( DPO )indicator script.
It takes the average of 6 different fib lookback periods. (55,89,144,233,377,610)
This is plotted in the purple line.
It then takes the RMA of the DPO and uses the RMA's to determine entry points with crossovers and crossunders.
It's an extremely easy indicator to use. You mostly only need to adjust the last 2 inputs (These are the RMA Smoother inputs)
Works well with most any market and with any timeframe.
Works great on Heiken Ashi if you keep orders under 150. But I can't post in heiken ashi format thanks to automated traders complaining to tradingivew that they can't make any money with heiken ashi candles
And then pine coders like this that are embraced with high regard because they realized that they can spam a heiken ashi chart with over 400 trades and magically it has excessive slippage.
It takes the average of 6 different fib lookback periods. (55,89,144,233,377,610)
This is plotted in the purple line.
It then takes the RMA of the DPO and uses the RMA's to determine entry points with crossovers and crossunders.
It's an extremely easy indicator to use. You mostly only need to adjust the last 2 inputs (These are the RMA Smoother inputs)
Works well with most any market and with any timeframe.
Works great on Heiken Ashi if you keep orders under 150. But I can't post in heiken ashi format thanks to automated traders complaining to tradingivew that they can't make any money with heiken ashi candles
And then pine coders like this that are embraced with high regard because they realized that they can spam a heiken ashi chart with over 400 trades and magically it has excessive slippage.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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