universique

Monthly MA Close

Generates buy or sell signal if monthly candle closes above or below the signal MA.
Long positions only.

Inputs:
-Change timeframe MA
-Change period MA
-Use SMA or EMA
-Display MA
-Use another ticker as signal
-Select time period for backtesting

This script is not necessarily written to maximize profits, but to minimize losses.
Although it can outperform 'Buy & Hold' on some occasions when there is a multiple month bearisch trend.
You can optimise this strategy by changing the signal MA inputs.
I would suggest aiming for the best Profit Factor starting from the monthly ("M") setting.
You can always fine-tune the results at a lower timeframe.

The option to use another ticker for providing signals can give you a more stable and unified results.
For example using AMEX:SPY as signal with default parameters gives better results with NASDAQ:AAPL than if you would use NASDAQ:AAPL itself.

I used the anti-repainting function from PineCoders to prevent repainting.
This script is best used for multi-month trading positions & Daily or 4H setting of your chart.
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

How does it do live?
Svara
universique Trading-Syndicate
@Trading_Syndicate, It only gives 1 signal max per month and because I wrote it in May we will have to wait. But it shouldn’t repaint.
Svara
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