If you are a trader who likes to trade with moving averages or crossovers, or you are just looking for a simple-to-use indicator, Open Close Crossover is the perfect choice.
You no longer need to waste time adding multiple indicators to find the moving averages of close and open prices, as the simple Open Close Crossover indicator does it all for you.
Plus, here are some extra benefits to add this indicator to your chart:
We've color-coded the plot and the background to give you an easy visualization of the trend moves:
- When the plot and background turn blue, it indicates an uptrend.
- When the plot and background turn pink, it indicates a downtrend.
Plus, you can adjust the parameters to suit your trading style:
- Smoothing: Period: When you adjust this parameter, it will make the plot smoother with reduced noise.
- Crossover offset (Ticks): This parameter defines the distance (in ticks) between the plots of open and close prices to generate trend signals:
- For an uptrend signal, the plot of the average closing prices must cross above the plot of the average opening prices, and the distance between the 2 plots must meet the pre-defined number of ticks.
- For a downtrend signal, the plot of the average closing prices must cross below the plot of the average opening prices, and the distance between the 2 plots must meet the pre-defined number of ticks.
In addition, the moving averages act as levels of dynamic support/resistance, providing flexible and timely indications of potential price reversals or continuations.
With Open Close Crossover, you can streamline your trading process and improve signal reliability, making it easier to understand and navigate market trends.
Dedicated NinjaScript signals:
- Signal_Trend: 1 = uptrend, -1 = downtrend
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