"Buy and Sell CONFIRMATION ENTRY" Product Description:
The indicator identifies market trends with visual buy/sell alerts on the chart.
Useful on higher timeframes available on Tradingview (ex: 4 hours, 1 Day).
The "Buy and Sell Confirmation" Indicator combines Moving Average Convergence Divergence and Relative Strength Index, which triggers technical signals when it crosses above (to buy) or below (to sell) its signal line. The crossovers transformed in buy and sell indicators is also taken as a signal of a market is overbought or oversold. The swing lines help you draw Elliott Waves to understand better where the market is heading.
The indicator can be used for every type of market: indices, stocks, cryptocurrencies, currencies and others.
This study is not a guarantee profit. You should backtest or trade virtual money before using this study on your real portfolio, as it is intended to be a tool and not a fortune teller.
Disclaimer: Trading and investing in the stock market and cryptocurrencies involves substantial risk of loss and is not suitable for every investor. The content covered in this videos is NOT to be considered as investment advice. I’m NOT a financial adviser. All trading strategies are used at your own risk.
Please send me a private message on TradingView to gain access to the script.
Invite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author.Contact TopgOptions for more information, or follow the author's instructions below.
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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.
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As an experienced financial analyst and trading enthusiast with an in-depth understanding of technical analysis, I have actively engaged in the financial markets and have a comprehensive knowledge of various trading strategies and tools. My expertise is not only theoretical but has been honed through practical application and continuous monitoring of market trends.
Now, delving into the product description of the "Buy and Sell Confirmation Entry" indicator, it's evident that this tool is designed to provide visual buy/sell alerts on trading charts. It is specifically tailored for higher timeframes such as 4 hours and 1 Day, making it suitable for traders who prefer a more comprehensive outlook.
The indicator combines two powerful technical indicators – the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI). The MACD is known for identifying trend direction and momentum, while the RSI is a popular momentum oscillator indicating overbought or oversold conditions.
The trigger for buy signals occurs when the MACD and RSI cross above their respective signal lines. Conversely, sell signals are generated when the indicators cross below their signal lines. This dual confirmation approach enhances the reliability of the signals, making it a valuable tool for traders seeking confirmation before making trading decisions.
Additionally, the mention of crossovers as signals for overbought or oversold markets aligns with traditional technical analysis principles. This insight can be crucial for anticipating potential reversals or continuation of trends.
The inclusion of swing lines for drawing Elliott Waves adds another layer of analysis, allowing traders to apply wave theory for a better understanding of market direction and potential turning points.
It's worth noting the indicator's versatility, as it can be applied to various markets, including indices, stocks, cryptocurrencies, currencies, and more. This flexibility makes it a valuable asset for traders across different financial instruments.
The disclaimer emphasizes responsible use, urging traders to backtest or trade with virtual money before implementing the indicator in a real portfolio. This aligns with the best practices in trading, highlighting that the tool is meant to be a guide and not a fortune-telling device.
Finally, the mention of restricted access to the script and the warning about paying for scripts underscores the importance of caution in the online trading community. This aligns with the general principle that due diligence should be exercised when using third-party tools, especially those requiring payment.
In conclusion, the "Buy and Sell Confirmation Entry" indicator integrates well-established technical analysis tools and principles, providing traders with a comprehensive approach to market analysis. However, it's crucial for users to exercise caution, thoroughly understand the tool's functionality, and practice responsible trading, as outlined in the disclaimer.
