OPEN-SOURCE SCRIPT
SBS Algo
Updated
Hello traders, I am here again with a new and improved indicator.
This indicator is based on a pivot breakout algorithm which gives buy and sell signals according to the breakout of trendline. This is an advanced version of another script. It also takes price action into consideration along with some basic indicators like MACD and ADX to give good entry signals.
NOTE: This indicator is not designed to take entries completely based on signals it gives. Please use it along with your trading strategy to add more confluence to your trading system and maximize your profits.
I hope you guys will like this one too .Enjoy 👍
In case you find any bug, please do report in comment section .Thank you.
This indicator is based on a pivot breakout algorithm which gives buy and sell signals according to the breakout of trendline. This is an advanced version of another script. It also takes price action into consideration along with some basic indicators like MACD and ADX to give good entry signals.
NOTE: This indicator is not designed to take entries completely based on signals it gives. Please use it along with your trading strategy to add more confluence to your trading system and maximize your profits.
I hope you guys will like this one too .Enjoy 👍
In case you find any bug, please do report in comment section .Thank you.
Release Notes
Sorry everyone to keep you all waiting but the wait is finally over. The new update is here
What's new :
- The REPAINTING issue is finally solved.
- Code optimized.
- Batter signal filtration
- Fixed Alerts
https://www.tradingview.com/x/zFTbktat/
https://www.tradingview.com/x/0FsD7g3Y/
https://www.tradingview.com/x/jaZpBSi5/
Over all performance
https://www.tradingview.com/x/boEXzMKL/
Note : The changes i made in order to eliminate the repainting issue has reduced the performance a little bit but the signals are more robust now. This doesn't mean that you should place orders directly based on signals. Do your own analysis first and trade responsibly.
Release Notes
Minor bug fixes- Alerts after signal is confirmed
- Made the trendline width adjustable
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
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.