DeQuex Algo V2
The DeQuex Algo V2 script is an advanced technical analysis tool that provides traders with a powerful set of features to help them identify potential trading opportunities in the market. The script is based on the widely used Moving Average Convergence Divergence (MACD) indicator, which is known for its ability to identify changes in trend direction.
The script has several input parameters that can be customized to meet the specific needs of each trader. This flexibility makes it a great tool for traders of all skill levels, from beginners to advanced traders. By adjusting the input parameters, traders can fine-tune the script to their preferred trading style and risk tolerance.
One of the key features of the DeQuex Algo V2 script is its ability to generate buy and sell signals based on MACD crosses. These signals are generated when the MACD line crosses above or below the signal line, indicating a potential change in trend direction. The script also includes options to display trend signals, which can be helpful in identifying the strength of the current trend.
In addition to the MACD indicator, the script also includes a dynamic support and resistance level calculation based on the basis and deviation of the price, as well as volume trend analysis using On Balance Volume (OBV). These features can be used to identify key levels of support and resistance, as well as determine the overall trend direction of the market. This information can be used to make more informed trading decisions and improve the chances of success in the market.
Overall, this script is powerful tool that can be used to help traders identify potential trading opportunities in the market. By using this script in conjunction with other technical analysis tools and fundamental analysis, traders can make more informed trading decisions and increase their chances of success.
Here are the main features of the script:
The script has several input parameters that can be customized to meet the specific needs of each trader. This flexibility makes it a great tool for traders of all skill levels, from beginners to advanced traders. By adjusting the input parameters, traders can fine-tune the script to their preferred trading style and risk tolerance.
One of the key features of the DeQuex Algo V2 script is its ability to generate buy and sell signals based on MACD crosses. These signals are generated when the MACD line crosses above or below the signal line, indicating a potential change in trend direction. The script also includes options to display trend signals, which can be helpful in identifying the strength of the current trend.
In addition to the MACD indicator, the script also includes a dynamic support and resistance level calculation based on the basis and deviation of the price, as well as volume trend analysis using On Balance Volume (OBV). These features can be used to identify key levels of support and resistance, as well as determine the overall trend direction of the market. This information can be used to make more informed trading decisions and improve the chances of success in the market.
Overall, this script is powerful tool that can be used to help traders identify potential trading opportunities in the market. By using this script in conjunction with other technical analysis tools and fundamental analysis, traders can make more informed trading decisions and increase their chances of success.
Here are the main features of the script:
- Moving Average Convergence Divergence (MACD) indicator: The script is based on the MACD indicator, which is widely used by traders to identify changes in trend direction. The script generates buy and sell signals based on MACD crosses, indicating potential changes in trend direction.
- Customizable input parameters: The script has several input parameters that can be customized to meet the specific needs of each trader. This includes the sensitivity of the MACD indicator, the source of the price data, the smoothing period, the type of moving average to use, and the display options for trend signals and price bars.
- Trend signals: The script includes options to display trend signals, which can be helpful in identifying the strength of the current trend. This can help traders determine whether to enter a trade or wait for a better opportunity.
- Dynamic support and resistance levels: The script includes a dynamic support and resistance level calculation based on the basis and deviation of the price. This can help traders identify key levels of support and resistance, which can be used to determine potential entry and exit points.
- Volume trend analysis: The script uses On Balance Volume (OBV) to determine the volume trend in the market. This can be used to identify potential changes in trend direction and to confirm the strength of the current trend.
- Alert system: The script includes an alert system that can notify traders when a buy or sell signal is generated. This can be helpful for traders who are not able to monitor the market at all times.
Release Notes:
Default linewidth changed to 2
Release Notes:
Some improvements on dynamic support resistance levels
Release Notes:
- Added Keltner Channels for dynamic support and resistance levels.
- Enhanced the crossConditions function to identify buy and sell signals more accurately.
- Introduced a new exit signal system based on RSI levels for better trade management.
- Improved code structure and readability by making it more modular and using clearer variable names.
Release Notes:
Changelog:
- Added Regular/Hidden divergence detection.
- Added Highlight Bars By Gradient Color to understand trend better.
Release Notes:
Gradiant color bool false by default
Release Notes:
Long and short alerts changed as same any alert function()