OPEN-SOURCE SCRIPT
20 and 200 SMA indicators with unnecessary additions
As many of you know, world famous Oliver Velez uses the simple 20 and 200 simple moving averages on 2 min time frame with price actions above or below these key SMAs for day/scalp trading involving narrow state versus wide state trend or anti-trend methods. The 20 SMA line uses different colors to indicate whether it is going up or down.
Against Oliver's advice, I also unnecessarily added boll bands on the 200 SMA, two +/- percent lines off 200 SMA to measure how far away prices are from the 200 SMA. I also added 10 ema cross 20 SMA cross signal, MACD line up /down, RSI crossover RSI SMA for those are want to make things complicated or might find they helpful. You can turn off all these ideally to Keep It Simple.
Again trading success is 80% psychology and 20% a good trading system plus risk management. Good luck.
Against Oliver's advice, I also unnecessarily added boll bands on the 200 SMA, two +/- percent lines off 200 SMA to measure how far away prices are from the 200 SMA. I also added 10 ema cross 20 SMA cross signal, MACD line up /down, RSI crossover RSI SMA for those are want to make things complicated or might find they helpful. You can turn off all these ideally to Keep It Simple.
Again trading success is 80% psychology and 20% a good trading system plus risk management. Good luck.
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.