Threefold_Ghost

MACD/EMA/SMA/Linear Regression/Supertrend/VWAP - Threefold_Ghost

Threefold_Ghost מעודכן   
***************************************************************NO BIAS, NO GUESSING, JUST MATH******************************************************************************************

This script includes open-source code from the following authors:

HPotter
ChrisMoody
LonesomeTheBlue
mejialucas

Thank you authors for publishing your work

This script was modified to enhance previous work as well as to serve as a tool for new and seasoned traders alike. The following indicators are mashed together because they are all math and trend based, creating a very good indication of what the trend is without any bias. By mashing these indicators together, new traders can better understand why price may react certain ways and seasoned traders can further deep dive a trend to confirm entries and exits. The script can be used in any time frame with any ticker. Note, script is determined by the bar close. Wait for the bar close for confirmations.

*****************************************************************HOW TO USE THIS INDICATOR**********************************************************************************************

MACD:
Defaulted to an 8 bar EMA and a 16 bar EMA to calculate the MACD rather than traditional 12 and 26 bar EMAs. Smaller amount of bars will react faster to price movement. Signal defaulted to an 11 bar SMA rather than the traditional 9 bars. This smooths out the Signal which helps a little when there is chop in the market. When inside of bars are gray, MACD above 0 which is bullish momentum. When inside of bars are black, MACD below 0 which is bearish momentum. MACD is crossing above signal on green up arrow alert which is bullish and MACD is crossing below signal on red down arrow alert which is bearish .

MOVING AVERAGE:
EMA and SMA are both plotted. Since EMA applies more weight to data that is more current, EMA is defaulted to 50 bars and is a dotted line whereas SMA is defaulted to 200 bars and is a solid line. Both will change color, green when the average is moving upwards and black when the average is moving downwards. There is a Golden Cross alert when EMA crosses above SMA which is bullish and a Death Cross alert when EMA crosses below SMA which is bearish .

LINEAR REGRESSION:
Defaulted to 100 bars. Price is mathematically prone to trade within the regression channel but the channel is dynamic so it will adjust with every bar close. If price is at the top of channel but begins to close below 2nd highest line, then price is likely regressing to the bottom of the channel. If the price is already at bottom of channel and then begins to close above the 2nd lowest line, price is likely regressing back to the top of the channel. Channel colors will change based on trend, green when trend is bullish and maroon when trend is bearish

SUPERTREND:
The multiplier setting adjusts how sensitive to price you want the supertrend to be and the length setting adjusts how many bars you want to use. This indicator calculates two supertrends simultaneously. There is a Long alert and a lime green support line plotted when the short term supertrend is bullish and a Short alert and a red resistance line plotted when short term supertrend is bearish . There are larger Trend alerts and support/resistances lines plotted with a color fill when the long term supertrend is either bullish or bearish . Use Long and Short alerts as a guide to confirm entries and not as actual buy/sell signals.

VWAP:
Average calculated by multiplying price by number of shares traded and dividing result by number of shares traded. Color changes to white line when VWAP is rising which is bullish and changes to a purple line when VWAP is dropping which is bearish .

****************************************************************************************************************************************************************************************
הערות שחרור: ***************************************************************NO BIAS, NO GUESSING, JUST MATH******************************************************************************************

This script includes open-source code from the following authors:

HPotter
ChrisMoody
LonesomeTheBlue
mejialucas

Thank you authors for publishing your work

This script was modified to enhance previous work as well as to serve as a tool for new and seasoned traders alike. The following indicators are mashed together because they are all math and trend based, creating a very good indication of what the trend is without any bias. By mashing these indicators together, new traders can better understand why price may react certain ways and seasoned traders can further deep dive a trend to confirm entries and exits. The script can be used in any time frame with any ticker. Note, script is determined by the bar close. Wait for the bar close for confirmations.

*****************************************************************HOW TO USE THIS INDICATOR**********************************************************************************************

MACD:
Defaulted to an 8 bar EMA and a 16 bar EMA to calculate the MACD rather than traditional 12 and 26 bar EMAs. Smaller amount of bars will react faster to price movement. Signal defaulted to an 11 bar SMA rather than the traditional 9 bars. This smooths out the Signal which helps a little when there is chop in the market. When inside of bars are gray, MACD above 0 which is bullish momentum. When inside of bars are black, MACD below 0 which is bearish momentum. MACD is crossing above signal on green up arrow alert which is bullish and MACD is crossing below signal on red down arrow alert which is bearish .

MOVING AVERAGE:
EMA and SMA are both plotted. Since EMA applies more weight to data that is more current, EMA is defaulted to 50 bars and is a dotted line whereas SMA is defaulted to 200 bars and is a solid line. Both will change color, green when the average is moving upwards and black when the average is moving downwards. There is a Golden Cross alert when EMA crosses above SMA which is bullish and a Death Cross alert when EMA crosses below SMA which is bearish .

LINEAR REGRESSION:
Defaulted to 100 bars. Price is mathematically prone to trade within the regression channel but the channel is dynamic so it will adjust with every bar close. If price is at the top of channel but begins to close below 2nd highest line, then price is likely regressing to the bottom of the channel. If the price is already at bottom of channel and then begins to close above the 2nd lowest line, price is likely regressing back to the top of the channel. Channel colors will change based on trend, green when trend is bullish and maroon when trend is bearish

SUPERTREND:
The multiplier setting adjusts how sensitive to price you want the supertrend to be and the length setting adjusts how many bars you want to use. This indicator calculates two supertrends simultaneously. There is a Long alert and a lime green support line plotted when the short term supertrend is bullish and a Short alert and a red resistance line plotted when short term supertrend is bearish . There are larger Trend alerts and support/resistances lines plotted with a color fill when the long term supertrend is either bullish or bearish . Use Long and Short alerts as a guide to confirm entries and not as actual buy/sell signals.

VWAP:
Average calculated by multiplying price by number of shares traded and dividing result by number of shares traded. Color changes to white line when VWAP is rising which is bullish and changes to a purple line when VWAP is dropping which is bearish .

****************************************************************************************************************************************************************************************
הערות שחרור: Updated script name
הערות שחרור: Changed from runtime error happening when no volume data provided to instead simply turning off VWAP
הערות שחרור: Updated default supertrend settings to be more sensitive to price movement. Updated supertrend labels to Buy/Sell signals on longer supertrend and Exit signals on shorter supertrend. Use signals as confirmation after bar close
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