@mrtsoftware , This indicator created by matsu_bitmex is a Trend Change Indicator. The long entry sign (lime cross) suggests a possible buy (stock will go up in price over time) and a suggestion to sell (or close the long position to take profits) is the long close sign (aqua circles).
Alternatively, the short entry sign (red cross) suggests an opportunity to short the stock (stock will go down in price) then the short close sign (yellow circles) is the suggestion to sell (or close the short position to take profits).
If you are not trading Options so will not be opening any short positions, you can use just the Long Entry Sign (lime cross) and Long Close Sign (aqua circles) for suggestions for when to buy and sell a stock.
Use MA - Moving Averages (or EMA- Exponential Moving Averages) + MACD (Moving Average Convergence Divergence) indicators to verify the entries and exits (buys and sells) suggested by matsu_bitmex's trend change indicator.
OvelixMax
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Hi @matsu_bitmex, nice script. I like it.
Just some minor errors in the options. The Lower, Center and Upper Lines are mixed. As it's now:
- Lower Line change the Upper Line
- Center Line change the Lower Line
- Upper Line change the Center Line
pavangalgali45
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Amazing script for people with 3 yrs of exp in the market, meaning they know price action well and just need a confirmation if the trend will continue or its sideways and close with small profit. New traders with patience can make print.
@mrtsoftware, I don't use it anymore.
I found good combination of other indicators instead:
VMC Cipher B on top of Simple Crypto F&G
and on main window with price:
UO_GRFM and CPR by KGS.
sanchitgarg1365
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@czy87553, Can you explain how to use these? These are 2 indicators right? - VMC cipher B (by whom) and UO_GRFM & CPR by KGS?
long entry sign : lime cross
long close sign : aqua circles
short entry sign : red cross
short close sign : yellow circles