I found this indicator on TradingView, and I thought could be interesting.
I added arrows at the crossovers of the two signal lines.
It is a kind of Hi/Lo activator of a channel formed by 2 MA applied to High and Low price series.
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//coded by AlexF// ////////////////// period = 20 type = 0 smaHigh=Average[period,type](high) smaLow=Average[period,type](low) if close>smaHigh then Hlv=1 elsif close<smaLow then Hlv=-1 else Hlv=Hlv[1] endif if Hlv<0 then sslDown=smaHigh else sslDown=smaLow endif if Hlv<0 then sslUp=smaLow else sslUp=smaHigh endif if sslUp crosses over sslDown then drawarrowup(barindex,low-5*pipsize)coloured(0,255,0) elsif sslDown crosses over sslUp then drawarrowdown(barindex,high+5*pipsize)coloured(255,0,0) endif return sslUp as "UP", sslDown as "DOWN" |
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Hi AlexF,
I tested a simple trading system built from this indicator with a normal %SL and %TP, and SMA10 on 200.000 candles. (M15 and M30)
Do you want to see the results?
Sure, you can open a topic about it.
I would personally use some other filter to validate its signals
Yes this was the idea to add some other filter on the basic system.
What other filters are you thinking of? I would add them in a multi time frame as well.
Open a topic and we’ll discuss it
https://www.prorealcode.com/topic/ssl-channel/
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