sheldon365
New member
Hello Forum Members,
I would like your thoughts and help to create the ThinkScript for a Smart Moving Average Buy and Sell Indicator with some logic embedded in it. I do have pieces of the logic that I was easily able to develop using the Moving Avg Crossover Indicator but I am struggling to get the script for the 50MA over 200MA part right.
Here is the logic: let me know your thoughts and if you can backtest this and let me know the probability of profit.
I would like your thoughts and help to create the ThinkScript for a Smart Moving Average Buy and Sell Indicator with some logic embedded in it. I do have pieces of the logic that I was easily able to develop using the Moving Avg Crossover Indicator but I am struggling to get the script for the 50MA over 200MA part right.
Here is the logic: let me know your thoughts and if you can backtest this and let me know the probability of profit.
- Bull Market
- Display Buy (Yellow Indicator) when
- Price crosses 20 EMA from above
- 50 EMA is above 10 EMA
- 20 EMA is above 50 EMA
- 50 EMA is above 200 EMA
- Display Sell (Red Indicator) when
- Price crosses 10 EMA from above
- 10 EMA is above 20 EMA
- 20 EMA is above 50 EMA
- 50 EMA is above 200 EMA
- Bear Market
- Display Sell (Orange Indicator)when
- Price crosses 20 EMA from below
- 200 EMA is above 50 EMA
- 50 EMA is above 20 EMA
- Display Buy (Blue Indicator) when
- Price crosses 10 EMA from below
- 200 EMA is above 50 EMA
- 50 EMA is above 20 EMA
- 20 EMA is above 10 EMA