Hi, I played with the ROC ( Rate of change ) indicator. First of all I made it smooth. And came up with decent buy sell signals for long-term potential trades. It can be useful for DCA and profit booking in market tops ( before potential crash) Recommended time frame = 1 Daily , 3 Daily , Weekly.
Usage : 1. Look for Buy and sell arrow signals. But don't jump straight away. Specially for sell. You might sell early. Instead you can move up your stop loss when you see a sell signal or profit book partially. if you wait and combine with your own supply and demand zones you can get some nice sell price. 2. Better to wait and look for a divergence in price and ROC. As price will slow down it will reflect on the ROC line. Which means market is exhausted and potentially a correction might happen. 3. You can draw trendline one the ROC and look for breakout. ( warning won't always work ) 4. You can also see the RSI in thick red/green color. It will help you determine oversold and overbought zones. Trick is don't sell when it's oversold ( red thick line) . Because it might be a start of a strong uptrend. So better is to wait and see when the signal is printing then execute.
Best strategy is to DCA and sell in parts whenever you see such signals. I believe it will visually help us that when to be bull and when to be bear.
Anyway if you find it useful let me know in the comment. Also if you have some idea to improve the code you can contribute as well. Thanks . Feedbacks are welcome.
오픈 소스 스크립트
진정한 트레이딩뷰 정신에 따라 이 스크립트 작성자는 트레이더가 기능을 검토하고 검증할 수 있도록 오픈소스로 공개했습니다. 작성자에게 찬사를 보냅니다! 무료로 사용할 수 있지만 코드를 다시 게시할 경우 하우스 룰이 적용된다는 점을 기억하세요.
차트에서 빠르게 액세스하려면 이 스크립트를 즐겨찾기에 추가하세요 — 여기에서 자세히 알아보기.