OPEN-SOURCE SCRIPT
Major and Minor Trend Indicator by Nikhil34a
Script Description:
This script is designed to provide a visual indication of the major and minor trends of an asset, along with potential buy and sell signals. It calculates two Simple Moving Averages (SMA): a longer-term 200-period SMA (Major SMA) and a shorter-term 20-period SMA (Minor SMA). The script determines whether the asset's closing price is above or below these moving averages to identify the major and minor trends. It also detects potential buying and selling opportunities based on the intersection of the asset's price with the SMA lines.
Usefulness:
This script can be useful for traders and investors who follow trend-based strategies and want to monitor the major and minor trends of an asset. By visually displaying the trends and potential buy and sell signals, it helps traders make informed decisions about entering or exiting positions.
Simple Explanation on BTC Chart:
In the context of a BTC chart, let's consider the following scenario:
BTC is currently trading above the 200-period SMA (Simple Moving Average), which is located at 29,059.
BTC is trading below the 20-period SMA, positioned at 30,178.
The current price of BTC is 29,916.
Based on this information, we can conclude that:
The major trend is bullish since BTC is trading above the 200-period SMA.
The minor trend is bearish as BTC is trading below the 20-period SMA.
The intersection of the price with the moving averages indicates a potential selling opportunity.
Traders using this script would observe that BTC is in a bullish major trend, a bearish minor trend, and there is a possibility of a sell signal. They may consider these factors when making trading decisions, such as adjusting their positions or taking profits.
Remember to conduct your own analysis and consider additional factors before making any trading decisions.
This script is designed to provide a visual indication of the major and minor trends of an asset, along with potential buy and sell signals. It calculates two Simple Moving Averages (SMA): a longer-term 200-period SMA (Major SMA) and a shorter-term 20-period SMA (Minor SMA). The script determines whether the asset's closing price is above or below these moving averages to identify the major and minor trends. It also detects potential buying and selling opportunities based on the intersection of the asset's price with the SMA lines.
Usefulness:
This script can be useful for traders and investors who follow trend-based strategies and want to monitor the major and minor trends of an asset. By visually displaying the trends and potential buy and sell signals, it helps traders make informed decisions about entering or exiting positions.
Simple Explanation on BTC Chart:
In the context of a BTC chart, let's consider the following scenario:
BTC is currently trading above the 200-period SMA (Simple Moving Average), which is located at 29,059.
BTC is trading below the 20-period SMA, positioned at 30,178.
The current price of BTC is 29,916.
Based on this information, we can conclude that:
The major trend is bullish since BTC is trading above the 200-period SMA.
The minor trend is bearish as BTC is trading below the 20-period SMA.
The intersection of the price with the moving averages indicates a potential selling opportunity.
Traders using this script would observe that BTC is in a bullish major trend, a bearish minor trend, and there is a possibility of a sell signal. They may consider these factors when making trading decisions, such as adjusting their positions or taking profits.
Remember to conduct your own analysis and consider additional factors before making any trading decisions.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
Möchten Sie dieses Skript auf einem Chart verwenden?
Haftungsausschluss
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