OPEN-SOURCE SCRIPT
TrendForce Indicator By Hilmy M.
TrendForce Indicator is a powerful trading tool designed to assist traders in identifying optimal entry and exit points in the market. This indicator combines moving averages and Relative Strength Index (RSI) to generate reliable buy and sell signals based on price momentum and trend direction.
Key Features:
Buy Signals: The indicator generates a buy signal when the fast moving average crosses above the slow moving average, indicating the start of an upward trend. Additionally, it confirms the signal with an RSI value above 40, ensuring a stronger momentum phase.
Sell Signals: A sell signal is produced when the fast moving average crosses below the slow moving average, suggesting a potential downtrend. The indicator further validates this with an RSI below 60 to signal weakening momentum.
Future Projections: Momentum Master also provides forward-looking buy and sell labels that appear one bar ahead, allowing traders to anticipate potential market movements.
Visual Clarity: With clear graphical signals and background highlighting for buy and sell zones, traders can easily spot trading opportunities at a glance.
Key Features:
Buy Signals: The indicator generates a buy signal when the fast moving average crosses above the slow moving average, indicating the start of an upward trend. Additionally, it confirms the signal with an RSI value above 40, ensuring a stronger momentum phase.
Sell Signals: A sell signal is produced when the fast moving average crosses below the slow moving average, suggesting a potential downtrend. The indicator further validates this with an RSI below 60 to signal weakening momentum.
Future Projections: Momentum Master also provides forward-looking buy and sell labels that appear one bar ahead, allowing traders to anticipate potential market movements.
Visual Clarity: With clear graphical signals and background highlighting for buy and sell zones, traders can easily spot trading opportunities at a glance.
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
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.