PROTECTED SOURCE SCRIPT
3 SMAs 7/20/50 Bullish/Bearish Screener For Day Trade
All SMAs Bullish/Bearish Screener (Visually Enhanced) - Detailed Description
Overview
The "All SMAs Bullish/Bearish Screener (Visually Enhanced)" is a comprehensive trend analysis tool designed to provide traders with a clear, multi-faceted view of market momentum. It goes beyond simple moving average crossovers by integrating a suite of confirmation indicators—RSI, Volume, and Momentum (ROC)—to generate high-conviction trading signals. The primary goal of this script is to identify periods where the short, medium, and long-term trends are aligned and confirmed by underlying market strength, helping traders to enter positions with greater confidence and avoid choppy, directionless markets.
Visually, the indicator is designed for maximum clarity. It uses color-coded moving averages, clear on-chart signals (up/down triangles), an optional background color to highlight the dominant trend, and a persistent on-screen status table that provides an at-a-glance summary of the current market condition.
Key Features
Multi-SMA Trend Alignment: The core of the indicator is based on the alignment of the 7, 20, and 50-period Simple Moving Averages (SMAs). A signal is only considered when the price is decisively above or below all three, indicating a unified trend.
Three-Factor Confirmation: To filter out weak or false signals, the script requires confirmation from three classic indicators:
RSI (Relative Strength Index): Ensures that the trend is supported by underlying strength (RSI > 50 for bullish, < 50 for bearish).
Volume: Confirms that there is conviction behind the move by checking if the volume is above its 20-period average.
Momentum (Rate of Change): Verifies that the price is actively moving in the direction of the trend (positive ROC for bullish, negative for bearish).
Clear Visual Signals:
Green Triangle (Below Bar): A "Strongly Bullish" signal appears when the price is above all SMAs and all three confirmation indicators are met.
Red Triangle (Above Bar): A "Strongly Bearish" signal appears when the price is below all SMAs and all three confirmation indicators are met.
Status Table: A corner display provides real-time text updates: "Strongly Bullish," "Strongly Bearish," "SMAs Bullish (No Confirmation)," or "SMAs Mixed."
Customizable Background Color: An optional background tint (green for bullish, red for bearish) provides an immediate visual sense of the prevailing confirmed trend.
How to Use the Indicator
This indicator is best used as a tool for trend confirmation and entry timing.
Identify the Trend: The primary use is to wait for a "Strongly Bullish" or "Strongly Bearish" signal to appear in the status table, indicated by a corresponding green or red triangle on the chart. These are your highest-probability signals.
Entry: A common strategy is to enter a trade on the close of the candle where the signal appears. For a bullish signal (green triangle), this would be a long (buy) entry. For a bearish signal (red triangle), this would be a short (sell) entry.
Context is Key: Avoid taking signals in isolation. Pay attention to the broader market structure. For example, a bullish signal is stronger if it appears after breaking a key resistance level or forming a bullish chart pattern (like a double bottom).
Setting Stop-Loss and Profit Targets
This script does not provide explicit stop-loss or target levels; these should be determined based on your personal risk management strategy. The following are general guidelines:
Stop-Loss Placement:
For Bullish Trades (Long): A logical place for a stop-loss is below a recent significant swing low. Alternatively, you could place it just below one of the key moving averages, such as the 20-period or 50-period SMA, as a break below these would invalidate the immediate trend.
For Bearish Trades (Short): Place a stop-loss above a recent significant swing high or just above the 20 or 50-period SMA.
Profit Targets:
Risk/Reward Ratio: A simple approach is to set a profit target that is a multiple of your risk (e.g., 1.5x, 2x, or 3x the distance from your entry to your stop-loss).
Support & Resistance: Target previous, significant support (for short trades) or resistance (for long trades) levels on the chart.
Trailing Stop: For capturing longer trends, you can trail your stop-loss. For example, in a long trade, you could manually move your stop-loss up to just below the 20-period SMA as the price continues to rise. You would exit the trade only when the price closes below it.
Disclaimer: This indicator is a tool for analysis, not a trading system that guarantees profit. All trading involves significant risk. Always backtest any strategy and use proper risk management before trading with real capital.
#TradingView #PineScript #TechnicalAnalysis #TradingStrategy #TrendFollowing #MovingAverage #SMA #RSI #VolumeAnalysis #Momentum #TradingSignals #DayTrading #SwingTrading #StockMarket #Crypto
Overview
The "All SMAs Bullish/Bearish Screener (Visually Enhanced)" is a comprehensive trend analysis tool designed to provide traders with a clear, multi-faceted view of market momentum. It goes beyond simple moving average crossovers by integrating a suite of confirmation indicators—RSI, Volume, and Momentum (ROC)—to generate high-conviction trading signals. The primary goal of this script is to identify periods where the short, medium, and long-term trends are aligned and confirmed by underlying market strength, helping traders to enter positions with greater confidence and avoid choppy, directionless markets.
Visually, the indicator is designed for maximum clarity. It uses color-coded moving averages, clear on-chart signals (up/down triangles), an optional background color to highlight the dominant trend, and a persistent on-screen status table that provides an at-a-glance summary of the current market condition.
Key Features
Multi-SMA Trend Alignment: The core of the indicator is based on the alignment of the 7, 20, and 50-period Simple Moving Averages (SMAs). A signal is only considered when the price is decisively above or below all three, indicating a unified trend.
Three-Factor Confirmation: To filter out weak or false signals, the script requires confirmation from three classic indicators:
RSI (Relative Strength Index): Ensures that the trend is supported by underlying strength (RSI > 50 for bullish, < 50 for bearish).
Volume: Confirms that there is conviction behind the move by checking if the volume is above its 20-period average.
Momentum (Rate of Change): Verifies that the price is actively moving in the direction of the trend (positive ROC for bullish, negative for bearish).
Clear Visual Signals:
Green Triangle (Below Bar): A "Strongly Bullish" signal appears when the price is above all SMAs and all three confirmation indicators are met.
Red Triangle (Above Bar): A "Strongly Bearish" signal appears when the price is below all SMAs and all three confirmation indicators are met.
Status Table: A corner display provides real-time text updates: "Strongly Bullish," "Strongly Bearish," "SMAs Bullish (No Confirmation)," or "SMAs Mixed."
Customizable Background Color: An optional background tint (green for bullish, red for bearish) provides an immediate visual sense of the prevailing confirmed trend.
How to Use the Indicator
This indicator is best used as a tool for trend confirmation and entry timing.
Identify the Trend: The primary use is to wait for a "Strongly Bullish" or "Strongly Bearish" signal to appear in the status table, indicated by a corresponding green or red triangle on the chart. These are your highest-probability signals.
Entry: A common strategy is to enter a trade on the close of the candle where the signal appears. For a bullish signal (green triangle), this would be a long (buy) entry. For a bearish signal (red triangle), this would be a short (sell) entry.
Context is Key: Avoid taking signals in isolation. Pay attention to the broader market structure. For example, a bullish signal is stronger if it appears after breaking a key resistance level or forming a bullish chart pattern (like a double bottom).
Setting Stop-Loss and Profit Targets
This script does not provide explicit stop-loss or target levels; these should be determined based on your personal risk management strategy. The following are general guidelines:
Stop-Loss Placement:
For Bullish Trades (Long): A logical place for a stop-loss is below a recent significant swing low. Alternatively, you could place it just below one of the key moving averages, such as the 20-period or 50-period SMA, as a break below these would invalidate the immediate trend.
For Bearish Trades (Short): Place a stop-loss above a recent significant swing high or just above the 20 or 50-period SMA.
Profit Targets:
Risk/Reward Ratio: A simple approach is to set a profit target that is a multiple of your risk (e.g., 1.5x, 2x, or 3x the distance from your entry to your stop-loss).
Support & Resistance: Target previous, significant support (for short trades) or resistance (for long trades) levels on the chart.
Trailing Stop: For capturing longer trends, you can trail your stop-loss. For example, in a long trade, you could manually move your stop-loss up to just below the 20-period SMA as the price continues to rise. You would exit the trade only when the price closes below it.
Disclaimer: This indicator is a tool for analysis, not a trading system that guarantees profit. All trading involves significant risk. Always backtest any strategy and use proper risk management before trading with real capital.
#TradingView #PineScript #TechnicalAnalysis #TradingStrategy #TrendFollowing #MovingAverage #SMA #RSI #VolumeAnalysis #Momentum #TradingSignals #DayTrading #SwingTrading #StockMarket #Crypto
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.