OPEN-SOURCE SCRIPT
Momentum Volume Trend BB -Pro v6
A. Buy Signal
When the "BUY" label appears on the screen, it means the following has occurred:
The price is above the 50 EMA (Uptrend).
The VWAP-RSI value has crossed above 50 (Beginning of positive momentum).
Additional Confirmation: If the candle color is bright lime, this indicates that the purchase is supported by volume, and the signal is more reliable.
B. Sell Signal
When the "SELL" label appears on the screen, it means the following has occurred:
The price is below the 50 EMA (Downtrend).
The VWAP-RSI value has crossed below 50 (Beginning of negative momentum).
Additional Confirmation: If the candle color is bright red, it indicates high selling pressure.
C. Using Bollinger Zones (Take Profit / Exit)
Upper Green Zone (2.0 - 3.0 Divergence): When the price enters this zone, the trend has strengthened considerably, but it is approaching the "overbought" zone. This can be considered a profit-taking point for long positions.
Lower Red Zone (2.0 - 3.0 Divergence): When the price hits here, "oversold" may have occurred. This is a warning to close short positions.
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.