OPEN-SOURCE SCRIPT
Relative Andean Scalping
This is an experimental signal providing script for scalper that uses 2 of open source indicators.
First one provides the signals for us called Andean Oscillator by alexgrover. We use it to create long signals when bull line crosses over signal line while being above the bear line. And reverse is true for shorts where bear line crosses over signal line while being above bull line.
Second one is used for filtering out low volatility areas thanks to great idea by HeWhoMustNotBeNamed called Relative Bandwidth Filter. We use it to filter out signals and create signals only when the Relative Bandwith Line below middle line.
The default values for both indicators changed a bit, especially used linreg values to create relatively better signals. These can be changed in settings. Please be aware that i did not do extensive testing with this indicator in different market conditions so it should be used with caution.
First one provides the signals for us called Andean Oscillator by alexgrover. We use it to create long signals when bull line crosses over signal line while being above the bear line. And reverse is true for shorts where bear line crosses over signal line while being above bull line.
Second one is used for filtering out low volatility areas thanks to great idea by HeWhoMustNotBeNamed called Relative Bandwidth Filter. We use it to filter out signals and create signals only when the Relative Bandwith Line below middle line.
The default values for both indicators changed a bit, especially used linreg values to create relatively better signals. These can be changed in settings. Please be aware that i did not do extensive testing with this indicator in different market conditions so it should be used with caution.
Release Notes
- Added AlertsOpen-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.
One does not simply win every trade.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.