New to Trading and TOS

J

jrchezz

New member
I'm recently retired from the military and attempting to start a life as a day trader. So the question, from your experience and success with indicators, which two would your recommend? Maybe a code that I could import would be wonderful too. Regardless, thanks in advance for a great first step v/r Jr.
 
T

tomsk

Well-known member
VIP
There are literally thousands of indicators out there, best to use those that fit your trading style.
Since you're new to trading, might be helpful to start with a few simple indicators and then build your library as you gain experience

For starters, here's a real simple moving average crossover study
It plots an arrow at the last bar they crossed at rather than all the previous crossovers

input price = close;
input length1 = 8;
input length2 = 21;
input crossingType = {default above, below};

def avg1 = ExpAverage(price, length1);
def avg2 = ExpAverage(price, length2);
def lastCrossBar = if avg1 crosses avg2 then barNumber() else Double.NaN;

plot signal = if barNumber() == highestAll(lastCrossBar) and crosses(avg1, avg2, crossingType == CrossingType.above) then 1 else double.NaN;
signal.AssignValueColor(if crossingType == CrossingType.above
then Color.YELLOW
else Color.CYAN);
signal.SetPaintingStrategy(if crossingType == CrossingType.above
then PaintingStrategy.BOOLEAN_ARROW_UP
else PaintingStrategy.BOOLEAN_ARROW_DOWN);
signal.SetLineWeight(3);
 

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