Black crosses mark the 'golden crosses' as well as the 'death crosses'. These black crosses appear when the 30 crosses the 100 & when the 100 crosses the 200. These black crosses don't tell you when to buy/sell, but simply indicate interest in the market.
This code is open-source so feel free to add this indicator to your chart and play around with the different moving average timeframes & color schemes.
Golden Cross The golden cross occurs when a short-term moving average crosses over a major long-term moving average to the upside and is interpreted by analysts and traders as signaling a definitive upward turn in a market. Basically, the short-term average trends up faster than the long-term average, until they cross.
There are three stages to a golden cross:
A downtrend that eventually ends as selling is depleted
A second stage where the shorter moving average crosses up through the longer moving average
Finally, the continuing uptrend, hopefully leading to higher prices
Death Cross Conversely, a similar downside moving average crossover constitutes the death cross and is understood to signal a decisive downturn in a market. The death cross occurs when the short term average trends down and crosses the long-term average, basically going in the opposite direction of the golden cross.
The death cross preceded the economic downturns in 1929, 1938, 1974, and 2008.
Isn't the golden/death cross when the 50 and 200 cross each other?
kyer
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@MrBetonStonks, some analysts use the 50, some analysts use the 100 it's up to you there's no wrong way of trading or using this indicator, go ahead and try it out add it to your chart and play around with the different moving average timeframes!
MrBetonBlocks
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@kyer, interesting, i guess if you use longer periods then you would get less false signals but wouldn't it be called something else? either way good job and thanks for uploading :)
kyer
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@MrBetonStonks, to the best of my knowledge its still called golden/death cross. The more popular version is the 100 over the 200, I personally use the 99 and 200 MA