When MACD crosses up, it is supposed to give a buy signal. However, before entering into a Long position, there is a need for a confirmation. This confirmation can be from a down trendline breakout or from another indicator.
In this case, I've chosen the Exponential Moving Average Cross to be as the confirmation.
The Buy Signal will appear when there it fulfills the following conditions:- i. The MACD line is above the Signal Line ii. The fast EMA crosses the Slow EMA
The Sell signal will appears when the opposite of the above condition is met.
This indicator is meant for the Swing Trader whom would like to hold a position for a long time.
הערות שחרור
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Adding in the title
הערות שחרור
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Added Momentum EMA Level to determine possible rebound level with high momentum.
הערות שחרור
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Added in a simple alert function to trigger when to Buy / Sell
The script seems to be accurate but theres an error in the alertcondition since both are taking the goldenbuy variable. One should be goldensell for sell.
EddieLaBeletteCosmique
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Indeed, there is something wrong with the issued signals. They sometime appear as Buy when they should be Sell. And vice versa...
GFED0909
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I can't post the screenshot of repeating buys and sells. Not accurate.