Golden Cross
How this script is different from currently published ones?
This script does not show the SMA 200 and SMA 50 lines. It simply shows a label exactly where the golden crosses occur with a vertical line.
How to use it?
When you see a green golden cross up, you can take a long position, but then watch out for bearish breakouts in the uptrend
When you see a red golden cross down, you can take a (short) sell position, but then watch out for bullish breakouts in the downtrend
Which markets it's meant for?
It's meant for the stock market, but can be used in any market where time and price are on the x and y axis respectively.
Under which conditions?
You can use it in any conditions. And may prove to be effective on 1 minute or even 1 day candle time frames. The example provided shows how it was incredibly effective to provide a buy signal for ACY the day before it had it's first 1000% jump.
This script does not show the SMA 200 and SMA 50 lines. It simply shows a label exactly where the golden crosses occur with a vertical line.
How to use it?
When you see a green golden cross up, you can take a long position, but then watch out for bearish breakouts in the uptrend
When you see a red golden cross down, you can take a (short) sell position, but then watch out for bullish breakouts in the downtrend
Which markets it's meant for?
It's meant for the stock market, but can be used in any market where time and price are on the x and y axis respectively.
Under which conditions?
You can use it in any conditions. And may prove to be effective on 1 minute or even 1 day candle time frames. The example provided shows how it was incredibly effective to provide a buy signal for ACY the day before it had it's first 1000% jump.