OPEN-SOURCE SCRIPT

vikee MA Crossover Strategy with resistance

this stratigy Moving Average (MA) Crossover Strategy for TradingView, designed to identify potential buying opportunities when a short-term moving average (5-period) crosses above a long-term moving average (60-period). This event, known as a golden crossover, signals a potential uptrend in price action. The script also plots a support/resistance line at the high of the monthly candlestick following the crossover and generates a trade entry when the price crosses this line.

These moving averages help smooth out price fluctuations, making it easier to identify trend reversals and momentum shifts.

A crossover suggests that short-term bullish momentum is increasing, potentially leading to a price uptrend.
After detecting a crossover, the script stores the high of the current monthly candlestick as a key reference level.
is initialized as not available (na) and is updated to the high of the monthly candlestick when a crossover occurs.
This line acts as a support/resistance level for future price movements.
Once a golden crossover occurs, the script plots a dashed black horizontal line at the trade line level
This resistance line helps traders determine whether the price breaks out above it (confirming a bullish trend) or reverses downward.
A long trade signal is generated when the closing price crosses above the trade line
Finally, the script plots the moving averages on the chart
Detecting golden crossovers between the 5 MA and 60 MA,
Establishing key resistance levels at the high of the monthly candlestick, and
Executing trades only when price breaks above this level,
the strategy aims to capture strong upward momentum while reducing false signals. Traders can fine-tune the script by adjusting the moving average lengths, modifying the trade entry logic, or incorporating additional filters (e.g., volume or RSI confirmation) to enhance performance.

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