Created
September 18, 2021 08:23
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CTO Line indicator for TradingView
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| //@version=4 | |
| study(title="CTO Line", shorttitle="CTO", overlay=true, resolution="") | |
| smma(src, length) => | |
| smma = 0.0 | |
| smma := na(smma[1]) ? sma(src, length) : (smma[1] * (length - 1) + src) / length | |
| smma | |
| v1 = smma(hl2, 15) | |
| m1 = smma(hl2, 19) | |
| m2 = smma(hl2, 25) | |
| v2 = smma(hl2, 29) | |
| p2 = v1<m1 != v1<v2 or m2<v2 != v1<v2 | |
| p3 = not p2 and v1<v2 | |
| p1 = not p2 and not p3 | |
| c = p1 ? color.orange : p2 ? color.silver : color.navy | |
| line1 = plot(v1, "Line 1", color=c) | |
| line2 = plot(v2, "Line 2", color=c) | |
| fill(line1, line2, color=c) |
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@RoscoeTheDog The indicator is just one tool in his tool belt and it needs to be used with all the other TA around a chart. I follow him for a long time and he is doing a very good job already with his videos on YouTube. Always very fact based and educating with a touch of his own style. The pice point is also very steep for me but I guess you pay it for the education/newsletter/community and tools so i think in total the price is fair IF you really want all of it.
Personally I just wanted to indicator as well because I just want it for my own trading strategy. Also for me it is just one piece of the strategy (not a buy/sell signal)
Because I am also able to program i took the pine script and build a little page around it applying the indicator to the top 5000 coins. Maybe its useful for some here as well. @f-gueguen @BreWep thanks for the script.
https://www.squarito.com/en/trends/smma-15-29/latest/usd