OPEN-SOURCE SCRIPT
Scalping London New York Indicator
Scalping London New York SMA Signal Indicator is a short-term trend-following signal indicator designed for active forex chart analysis, especially on M1 and M5 charts.
The script uses a fast and slow Simple Moving Average to identify the market direction. A buy signal is displayed when the previous confirmed candle is bullish and the fast SMA is above the slow SMA. A sell signal is displayed when the previous confirmed candle is bearish and the fast SMA is below the slow SMA.
The indicator includes a session-style time filter, an optional long-only mode, trend background coloring, and alert conditions for both buy and sell signals. On a 5-minute chart, the moving average periods are automatically adjusted to approximate the original lower-timeframe settings.
Default settings:
Fast SMA: 60
Slow SMA: 280
Time Filter: Enabled
Start Hour: 7
End Hour: 17
Only Long: Disabled
Recommended timeframes: M1 and M5
Recommended market: Forex, especially JPY pairs such as USDJPY
This indicator is intended for chart analysis and signal monitoring only. It does not place trades or perform backtesting.
This script is intended for chart analysis, backtesting support, research, and educational purposes only.
It does not guarantee future performance and should not be considered financial advice.
Please test carefully before using it in any trading decision.
The script uses a fast and slow Simple Moving Average to identify the market direction. A buy signal is displayed when the previous confirmed candle is bullish and the fast SMA is above the slow SMA. A sell signal is displayed when the previous confirmed candle is bearish and the fast SMA is below the slow SMA.
The indicator includes a session-style time filter, an optional long-only mode, trend background coloring, and alert conditions for both buy and sell signals. On a 5-minute chart, the moving average periods are automatically adjusted to approximate the original lower-timeframe settings.
Default settings:
Fast SMA: 60
Slow SMA: 280
Time Filter: Enabled
Start Hour: 7
End Hour: 17
Only Long: Disabled
Recommended timeframes: M1 and M5
Recommended market: Forex, especially JPY pairs such as USDJPY
This indicator is intended for chart analysis and signal monitoring only. It does not place trades or perform backtesting.
This script is intended for chart analysis, backtesting support, research, and educational purposes only.
It does not guarantee future performance and should not be considered financial advice.
Please test carefully before using it in any trading decision.
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.