The defaults are 15 minutes, 1 hour, 4 hours and 1 day, using an SMA, EMA or WMA. An option closes the position as soon as the alignment is lost. There is no stop loss or take profit. It plots the alignment score and tints the background at full alignment.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
MA Type
string
EMA
ma_type
MA Length
int
20
ma_length
Timeframe 1
timeframe
15
tf1
Timeframe 2
timeframe
60
tf2
Timeframe 3
timeframe
240
tf3
Timeframe 4
timeframe
1D
tf4
Exit When Score < 4 / > -4
bool
true
exit_when_misaligned
Bullish Color
color
#089981
bullColorInput
Bearish Color
color
#f23645
bearColorInput
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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