BuySell-byRauf

Indicator Overview
This script is a custom indicator that generates buy and sell signals based on a proprietary algorithm. It utilizes a custom library (signalLib) to analyze market data and identify potential trading opportunities.
How it Works
The script uses three input parameters:
DEPTH_ENGINE: controls the depth of the analysis
DEVIATION_ENGINE: controls the deviation threshold for signal generation
BACKSTEP_ENGINE: controls the number of bars to look back for signal confirmation
The script analyzes the market data using the signalLib library and generates a direction signal, which indicates whether the market is trending up or down.
When the direction signal changes, the script generates a buy or sell signal, depending on the direction of the trend.
The script plots a label on the chart to indicate the buy or sell signal, with customizable colors and label size.
The script also generates alerts when a buy or sell signal is generated, which can be used to trigger trades.
Signal Generation
The script generates buy and sell signals based on the direction signal, which is calculated using the signalLib library. The direction signal is generated when the market trend changes, and the script plots a label on the chart to indicate the signal.
Customization
The script allows for customization of the input parameters, label colors, and label size. This allows users to tailor the script to their specific trading needs and preferences.
Overall, this script provides a powerful tool for identifying potential trading opportunities and generating buy and sell signals based on a proprietary algorithm.