The script determines and plots entry points for 1 hour S&P index using 8/34 emas and stochastic RSI. When 8 ema above/below 34 ema up/down crosses of stochastic RSI are considered as long/short entries. Entry prices should be above/below high/low of the signal bars accordingly. Ichimoku cloud can be used as extra filtering.
I used to check on some stock and index working excellent . Salute to your hard work. Mainly I serch for indian index BANKNIFTY if u suggest some changes or some guidelines for it. Once again i am heartily appreciated to See your awesome work .god bless you for your best future.
GurselKona
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@Bpovinod26, Thanks. I am happy to hear that it works for you also. I am working for some improvements.
GurselKona
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The following code segments can be added to the end of "//entries", "//plotting" and "//alerts" sections of the original script. They produce some quick profit. Try and if you find it useful keep it.
Best luck!
longadd = macd > macd[1] and macd[2] > macd[1] and islongMACD
shortadd= macd < macd[1] and macd[2] < macd[1] and isshortMACD
alertcondition(longadd,"longadd","longadd close = {{close}} high = {{high}}")
alertcondition(shortadd,"shortadd","shortadd close = {{close}} low = {{low}}")
Mark788
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Repaint ?
GurselKona
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@Mark788, It works real-time. So that the signal on the last bar repaints. After the closing of last bar, no repaint. Alerts must be set as "only once per bar close".