It is the Cappuccino-Indicator. It calculates back the estimated price based on with some optional filters and gives signals for buy and sell.
it works as follows:
- the current value is calculated back to a estiamated market price
- shoutout to some developers who made some functions possible, this was a long work, I cannot find Your sources anymore, I'm sorry. Text me I will publish Your credits. You are awesome and I respect Your work.
- The principle is simple. as suggested by Rookies the market is when in certain Levels, and when in other
- This indicator also combines some trend channels for easier spotting good entries
- The Cappuccino Indicator tries to keep you in a trade as long as possible
- It uses ATR based Trailing SL for you to not get rekt
- It is just a piece of software, You're trading on Your own risk
- Translated to English
- Enabled all hidden options
- Automatic Asset Decimals Detection
- Grouped Options with new Pine Script Feature
- Fixed deprecated "transp"
- Set EMA Settings to more useful defaults
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.