OPEN-SOURCE SCRIPT
robotrading trendweek
The blue line is the closing price of the week.
Strategy
If the price is above the blue line - this is uptrend.
If the price is below the blue line - it is downtrend.
If the low candlestick is above the line - you should open a long position (and close a short position, if open).
If the high candle is below the line - you should open a short position (and close a long position, if open).
Reverse trading.
Crossing
A crossing is defined as an event, when the whole candle is above the line (high > line), or below the line (low < line). This method greatly reduces the number of false signals.
Strategy
If the price is above the blue line - this is uptrend.
If the price is below the blue line - it is downtrend.
If the low candlestick is above the line - you should open a long position (and close a short position, if open).
If the high candle is below the line - you should open a short position (and close a long position, if open).
Reverse trading.
Crossing
A crossing is defined as an event, when the whole candle is above the line (high > line), or below the line (low < line). This method greatly reduces the number of false signals.
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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