OPEN-SOURCE SCRIPT
SuperTrend + Dynamic Filter Alarm(DEMA Counter)
This script uses SuperTrend along with DMI(DI+>DI- & ADX over 20) with price movement above DEMA200. Upon set up, it also raises alarm when all these conditions are met. Also, there is a counter that counts the candles closed above DEMA200 before the signal is generated.
Paying attention to all price movements is utmost critical. Main driving indicator is SuperTrend which is very misleading during choppy price movements.
Paying attention to all price movements is utmost critical. Main driving indicator is SuperTrend which is very misleading during choppy price movements.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.