This Pine Script code for TradingView is designed to create a trading indicator titled "Gold scalper 1 min or 30 sec." The indicator is primarily used for scalping gold and is focused on short-term timeframes (1 minute or 30 seconds).
### Key Components of the Code:
1. **Inputs:** - **Resolution:** Users can set the timeframe for analysis (default is 240 minutes). - **SMA (Simple Moving Average):** Users can specify the period for the SMA used in the calculations.
2. **Daily Highs and Lows:** - The script calculates the previous day’s high (`yesterdayHigh`) and low (`yesterdayLow`) prices using the `request.security` function.
3. **SMA Calculation:** - An SMA is computed based on the closing prices of the selected timeframe.
4. **Breakout Conditions:** - The script detects breakouts using the SMA in relation to yesterday's high and low: - A breakout upwards occurs when the SMA crosses above the previous day's high. - A breakout downwards occurs when the SMA crosses below the previous day's low.
5. **RSI (Relative Strength Index) Calculations:** - Two RSI values are calculated to assess market momentum: - **Banker RSI:** Used for buy conditions. - **Hot Money RSI:** Used for sell conditions. - These include adjustable sensitivity factors and periods to customize the indicator’s sensitivity.
6. **Trade Direction Selection:** - Users can select whether to trade long, short, or both directions.
7. **Buy and Sell Signals:** - Buy conditions are set when the Retail Moving Average crosses the Banker Moving Average under certain conditions. - Sell conditions are marked when the Banker Moving Average crosses under the specified sell threshold. - These signals are visually represented on the chart with specific shapes (up arrows for buys and down arrows for sells).
8. **Alerts:** - Alerts are generated for buy and sell signals to notify users when certain conditions are met.
9. **Trend Visualization:** - The script visually indicates uptrends and downtrends on the chart by plotting colors based on the relationship between the current price, yesterday's high, and low.
### General Purpose: This indicator is designed to assist traders in identifying potential buying and selling opportunities in the gold market based on short-term price movements and momentum indicators, helping them capitalize on quick price fluctuations that are characteristic of scalping strategies.
진정한 TradingView 정신에 따라, 이 스크립트의 저자는 트레이더들이 이해하고 검증할 수 있도록 오픈 소스로 공개했습니다. 저자에게 박수를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 출판물에서 이 코드를 재사용하는 것은 하우스 룰에 의해 관리됩니다. 님은 즐겨찾기로 이 스크립트를 차트에서 쓸 수 있습니다.