5min and 15min Buy Sell Strategy By Demirkan

9 jam lalu

This script is designed to identify Buy and Sell signals based on multiple moving averages and the higher timeframe candle direction. It works as follows:

Key Components:
Higher Timeframe Analysis:

The indicator uses the 60-minute timeframe (or a custom timeframe set by the user) to assess the general market trend.
It compares the open and close prices of the higher timeframe candles:
Bullish Higher Timeframe: Close price > Open price.
Moving Averages:

The script uses three types of moving averages to identify trend and momentum:
Simple Moving Average (SMA) with a length of 9.
Exponential Moving Average (EMA) with a length of 21.
Hull Moving Average (HMA) with a length of 100.
These are calculated on the current timeframe's price data.
Crossover Conditions:

Bullish Crossover: When the 9 SMA crosses above the 21 EMA.
Bearish Crossover: When the 9 SMA crosses below the 21 EMA.
Signal Conditions:
Buy Signal:

A bullish crossover occurs (9 SMA crosses above 21 EMA).
The current price is above the 100 HMA (indicating an uptrend).
The higher timeframe (e.g., 60-minute) is bullish (close > open).
Sell Signal:

A bearish crossover occurs (9 SMA crosses below 21 EMA).
The current price is above the 100 HMA.
The higher timeframe is bullish.
Visual and Alert Outputs:
Moving Average Visualization:

The indicator plots the 9 SMA (blue), 21 EMA (red), and 100 HMA (black) directly on the price chart.
Signal Markers:

Buy signals are displayed as green upward triangles below the price bars.
Sell signals are displayed as red downward triangles above the price bars.
Alerts:

Users receive alerts for both buy and sell signals when conditions are met.
Info Table:

A table in the top-right corner displays:
Signal Type: "Cross Up" or "Cross Down."
Higher Timeframe Status: Indicates if the higher timeframe is bullish (e.g., "1H Bullish").
Purpose:
This indicator is suitable for traders who prefer combining lower timeframe signals (e.g., 5-minute or 15-minute charts) with confirmation from a higher timeframe (e.g., 60-minute) for better accuracy in identifying potential buy and sell opportunities.