countseven12

Easy Entry/Exit Trend Colors (With Alerts)

This is an updated version of user Algokid's script called 'AK MACD BB INDICATOR V 1.00'. You can find that original script here:

I added many alerts along with the Bullish and Bearish alerts when the MACD crosses over the Upperband or crosses down on the Lowerband.

I personally use this indicator with Crypto charts ( Bitcoin on a 15min, 1hour, and 4 hour timeframe) as one of many confirmations that it's a good time to enter a trade. This script was made to be easy to follow with the colors of GREEN triangles being a good uptrend or entry confirmation, and RED being a confirmation to sell/short or exit your trade.

It's important to use this indicator in combination with other indicators that can give you more confirmations to enter or exit a trade, and make sure you are on normal candles and not HA or any other candles as you can get wildly inaccurate results.

This script also has the Death & Golden crosses, which is the slow and fast moving averages crossing over each other. I don't use this as an additional confirmation, it's just nice to know where the cross happens.
Release Notes: Fixed scaling issues from Death/Golden Cross. Thanks to @AtomOfScent for catching the bug!
Open-source script

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.

Want to use this script on a chart?

Kommentarer

Greetings!
When a candlestick is colored blue, does it mean that there is uncertainty / change in the current trend in this candlestick?
+3 Svara
countseven12 nikoletosr
@nikoletosr, I use a little association to remember and read the candle colors, this is just the way I learned it, but you can choose anyway you’d like:

Blue candles (with red outline/halo): Means the temperature(and trend) is dropping, and the bears are in control.
Yellow candles (with red outline/halo): Yellow candles are normally bullish, but that red is causing too much fear to be effective.
Blue candles (with green outline/halo): Slight uncertainty in movement - check the volume color to see which way the trend is moving.
Yellow candles (with green/blue outline/halo): The Suns out and it looks like an uptrend is on its way.
Doji (with outline/halo): Signs of impending action, red and the trend is its heading south, green and the strength is with the Bulls.
Blue candles (with a red outline/halo): The market is continuing its downward trend.
Blue candles (with a green outline/halo): Things are on the turn, better times ahead.
Blue Doji (with a green outline/halo): Is a bullish sign to the upside.
Svara
nikoletosr countseven12
@countseven12, thank you!))
+1 Svara
Having some scaling issues. As your example image is also using BTC it makes me think there might be a bug.
+2 Svara
countseven12 AtomOfScent
@AtomOfScent, Just grab the numbers on the right side and pull them up a few times until it's the size you want. I will look into having it automated fit though.
Svara
AtomOfScent countseven12
@countseven12, it's the death cross label causing the problem. If I turn that off it scales properly.
Svara
countseven12 AtomOfScent
@AtomOfScent, Thank you - got it fixed! Updated version.
+4 Svara
AtomOfScent countseven12
@countseven12, thanks for fixing it.
+1 Svara
hi

how to set alert when BULL MACD Appears

i tried to do it but it working sometime and not working sometime

thank you
Svara
Hello
Thank you for your great effort
I am wondering what type of indicator to use with your indicator to gove more confirmation
Svara