Tabajara Index 1.0
The Tabajara Index was created by the famous Brazilian trader Professor André Machado, one of the greatest technical analysts in Brazil.
It has been created to identify market trends with a higher level of confirmation.
Logic of the algorithm:
- Verifies if the last 2 candles are green.
- Verifies if the closing price of the last candle is higher than the previous candle.
- Verifies if the SMA 20 is trending up.
- Pre-configured for the candle of 1h.
- Fires when all the conditions are met.
- For an additional confirmation, combine it with a volume increase indicator.