OPEN-SOURCE SCRIPT

Swing Trading Strategy - Indian Market

Trend Identification:

The script uses 50 EMA and 200 EMA to identify the trend.

Uptrend: 50 EMA > 200 EMA.

Downtrend: 50 EMA < 200 EMA.

Momentum Confirmation:

RSI is used to confirm momentum.

Buy when RSI crosses above 30 (oversold) in an uptrend.

Sell when RSI crosses below 70 (overbought) in a downtrend.

Volume Filter:

The script checks if the current volume is 1.5x the average volume (adjustable) to confirm breakouts.

Signals:

Buy Signal: Green "BUY" label below the candle.

Sell Signal: Red "SELL" label above the candle.

Background Highlight:

The background is highlighted green during an uptrend and red during a downtrend.

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