OPEN-SOURCE SCRIPT
AI-Powered Buy/Sell Tool
indicator("AI-Powered Buy/Sell Tool", overlay=true)
// RSI Setup
rsiLength = 14
rsi = ta.rsi(close, rsiLength)
// MACD Setup
[macdLine, signalLine, _] = ta.macd(close, 12, 26, 9)
// Moving Averages Setup
emaShort = ta.ema(close, 20) // 20-period EMA
smaLong = ta.sma(close, 50) // 50-period SMA
// Sentiment-based volume proxy (volume spikes compared to moving average)
volChange = volume > ta.sma(volume, 50) ? 1 : 0 // If volume is above the 50-period average
// Buy/Sell Signals Logic
buySignal = ta.crossover(macdLine, signalLine) and rsi < 30 and close > emaShort and volChange == 1
sellSignal = ta.crossunder(macdLine, signalLine) and rsi > 70 and close < emaShort and volChange == 1
// Plot Buy/Sell Signals
plotshape(buySignal, title="Buy Signal", location=location.belowbar, color=color.green, style=shape.labelup, text="BUY")
plotshape(sellSignal, title="Sell Signal", location=location.abovebar, color=color.red, style=shape.labeldown, text="SELL")
// Plot EMA and SMA for trend visualization
plot(emaShort, color=color.blue, linewidth=2, title="EMA 20")
plot(smaLong, color=color.orange, linewidth=2, title="SMA 50")
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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