Gold Custom Indicator Focused On Selling Built Using Grok

Gold Custom Indicator Focused On Selling Built Using Grok

Working!

 //@version=5

// Gold Sell Indicator

indicator("Gold Sell Indicator", overlay=true)

// Input parameters

rsiPeriod = input.int(14, "RSI Period", minval=1)

rsiOverbought = input.int(70, "RSI Overbought Level", minval=50, maxval=100)

bbPeriod = input.int(20, "Bollinger Period", minval=1)

bbDev = input.float(2.5, "Bollinger Deviation", minval=0.1, step=0.1)

volPeriod = input.int(20, "Volume MA Period", minval=1)

// Calculate RSI

rsi = ta.rsi(close, rsiPeriod)

// Calculate Bollinger Bands

[bbUpper, bbMiddle, bbLower] = ta.bb(close, bbPeriod, bbDev)

// Volume Moving Average

volMA = ta.sma(volume, volPeriod)

// Sell Conditions

// 1. Price touching or exceeding upper Bollinger Band

priceAtUpperBB = close >= bbUpper

// 2. RSI in overbought territory

rsiOverboughtCond = rsi >= rsiOverbought

// 3. Volume spike (volume > 2x moving average)

volumeSpike = volume > volMA * 2

// Combined sell signal

sellSignal = priceAtUpperBB and rsiOverboughtCond and volumeSpike

// Plotting

plotshape(sellSignal, title="Sell Signal", location=location.abovebar, color=color.red, style=shape.triangledown, size=size.small)

// Visual aids

plot(bbUpper, "Upper BB", color=color.gray, linewidth=1)

plot(bbMiddle, "Middle BB", color=color.gray, linewidth=1)

plot(bbLower, "Lower BB", color=color.gray, linewidth=1)

// Alerts

alertcondition(sellSignal, title="Gold Sell Signal", message="Potential selling opportunity detected on Gold!")

// Additional panel for RSI

rsiPlot = hline(rsiOverbought, "Overbought", color=color.red, linestyle=hline.style_dashed)

Built using #Grok