OPEN-SOURCE SCRIPT
Custom MA Crossover with Labels
How it works:
Moving Averages: The script uses two simple moving averages (SMA) with user-defined periods (default: 10 and 100). These periods can be adjusted through the inputs.
Buy and Sell Signals: The script checks for crossover (buy) and crossunder (sell) conditions between the short and long moving averages. If a crossover happens, a "BUY" label is placed, and if a crossunder happens, a "SELL" label is placed.
User-defined UTC Time Window: The user specifies a time range in UTC (start and end time). The labels for "BUY" and "SELL" will only be valid and displayed if they occur during this user-defined time window.
Price Movement Labels:
If the price increases by 100 points from the last "BUY" entry, a "+100" label will be displayed.
Similarly, if the price increases by 50 points from the last "BUY" entry but less than 100 points, a "+50" label will be displayed.
If the price decreases by 100 points from the last "SELL" entry, a "-100" label will be shown.
If the price decreases by 50 points from the last "SELL" entry but less than 100 points, a "-50" label will be shown.
Label Colors:
Green for "BUY", and Red for "SELL".
The price change labels (+100, +50, -100, -50) are also color-coded accordingly.
Time Condition: Labels will only appear if the current time is within the defined UTC time window, giving you control over when the signals are valid.
Moving Averages: The script uses two simple moving averages (SMA) with user-defined periods (default: 10 and 100). These periods can be adjusted through the inputs.
Buy and Sell Signals: The script checks for crossover (buy) and crossunder (sell) conditions between the short and long moving averages. If a crossover happens, a "BUY" label is placed, and if a crossunder happens, a "SELL" label is placed.
User-defined UTC Time Window: The user specifies a time range in UTC (start and end time). The labels for "BUY" and "SELL" will only be valid and displayed if they occur during this user-defined time window.
Price Movement Labels:
If the price increases by 100 points from the last "BUY" entry, a "+100" label will be displayed.
Similarly, if the price increases by 50 points from the last "BUY" entry but less than 100 points, a "+50" label will be displayed.
If the price decreases by 100 points from the last "SELL" entry, a "-100" label will be shown.
If the price decreases by 50 points from the last "SELL" entry but less than 100 points, a "-50" label will be shown.
Label Colors:
Green for "BUY", and Red for "SELL".
The price change labels (+100, +50, -100, -50) are also color-coded accordingly.
Time Condition: Labels will only appear if the current time is within the defined UTC time window, giving you control over when the signals are valid.
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.
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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.