OPEN-SOURCE SCRIPT
Triple Cross UO
Updated
Sensitivity to a price change:
Black UO > Green UO > Red UO
How to reach a chart using UO_3X indicator:
Black UO > Green UO > Red UO
How to reach a chart using UO_3X indicator:
- A trend can be considered as stable if Green UO crosses and stays above Red UO. Visually it will look like a green cloud.
- During uptrend there is a tendency of Black UO to fluctuate above Green OU and especially above Red UO. Coloring it yellow.
- First reversal signal of the uptrend would be if Black UO touches or crosses above Red Band.
- Second reversal signal is when Black UO falls below Green UO.
- As a result of second reversal signal, Green UO also declines and eventually crosses below Red UO which is the confirmation of upcoming general downtrend, coloring it red.
- During a downtrend Black and Green UOs fluctuate below RED UO.
- Once black UO crosses below Green Band, coloring it blue, the first signal of upcoming reversal of downtrend is established.
- Second signal of reversal of downtrend would be is when Black UO crosses above Green and RED UOs.
- Confirmation of uptrend would be if Green UO goes above Red UO coloring it Green.
Release Notes
Responsiveness increased.Release Notes
Updated.Release Notes
*Release Notes
Added visualsRelease Notes
Updated to V5Release Notes
*Release Notes
Overbought and oversold levels are dynamic now.Release Notes
Triple Cross UO arguments adjusted to most TimeFrames of all Financial Markets.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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