Indicator and Strategy Open/Close Position (Trading View)

This script is designed for beginners, just copy and paste the script on TradingView, in the "my script" section and you're done. You can also copy the strategy version to better test the indicator and adapt it to your trading style. This indicator is suitable for those who want to approach the world of intraday trading, it is very simple and intuitive to use. It is also suitable for beginners who do not know how to trade. It uses a plotshape() on the chart to indicate when to enter and exit a position, making it very simple to use. Could it get any simpler than this?

"This screenshot shows an example of a few monthly trades on a $200 capital."

This is a TradingView Pine script for a custom indicator that combines the Bollinger Bands, the RSI, the ATR, and the Simple Moving Average (MA). The purpose of the script is to identify potential entry and exit points for long and short trades based on specific conditions. The script starts by defining the inputs for the Bollinger Bands, RSI, ATR, and MA. The Bollinger Bands are calculated using the ta.bb() function, while the RSI is calculated using the ta.rsi() function. The ATR is calculated using the ta.atr() function. The MA is calculated using the ta.sma() function. After calculating these indicators, the script creates two boolean variables: long and short. These variables are used to identify the direction of the price trend. If the close price is above the MA, long is set to true, indicating a bullish trend. If the close price is below the MA, short is set to true, indicating a bearish trend. The script then checks for potential entry points for long and short trades using a set of conditions. These conditions include the RSI being below 30 for long trades and above 70 for short trades, the close price being below the lower Bollinger Band for long trades and above the upper Bollinger Band for short trades, and the ATR being below a certain threshold. If these conditions are met and there are no open positions, the script opens a long or short position, depending on the direction of the trend. The script also checks for potential exit points using a set of conditions. These conditions include the price crossing over the middle Bollinger Band and there being an open short position for long trades, and the price crossing under the middle Bollinger Band and there being an open long position for short trades. If these conditions are met, the script closes the open position. Finally, the script creates alerts and plotshapes to signal potential entry and exit points. The alerts are triggered when the entry and exit conditions are met. The plotshapes are used to visually represent the entry and exit points on the chart.