OPEN-SOURCE SCRIPT

BMSB Watchlist Alert - Daily w/ 1% Proximity

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# Bull Market Support Band - Daily Updates with Proximity Alerts

## Overview
This indicator tracks the Bull Market Support Band (20-week SMA and 21-week EMA) with daily resolution updates and proximity warnings. The weekly moving averages update every day on your chart, giving you more frequent signals than traditional weekly-only scripts.

## What It Does
The script monitors price action relative to the BMSB and generates alerts for:
- Price crossing above or below either the 20W SMA or 21W EMA
- Price coming within 1% of either moving average (early warning system)

This proximity feature is useful for catching potential support/resistance tests before they actually happen, giving you advance notice to prepare for entries or exits.

## Key Features
- Weekly MAs that update daily for more responsive monitoring
- Configurable proximity threshold (default 1%, adjustable from 0.1% to 5%)
- Visual proximity zones shown as dotted lines around each MA
- Color-coded background highlighting (green when above both MAs, red when below both, orange when in proximity zone)
- On-chart labels for crosses and proximity warnings
- Status table showing current position relative to the band

## Setup for Watchlist Alerts
1. Add the indicator to any chart
2. Create alerts using these conditions:
- "BMSB Cross Alert" - fires on actual crosses
- "BMSB Proximity Alert" - fires when entering the 1% zone
3. Set interval to 1 day (recommended) or 4 hour for more frequent checks
4. Use "Once Per Bar Close" for the trigger option
5. Apply the same alert to your entire watchlist

## Settings
You can toggle on/off:
- Cross above alerts
- Cross below alerts
- Proximity alerts
- Proximity percentage adjustment
- Visual elements (labels, MA lines, proximity zones)

## Notes
The BMSB is commonly used in crypto markets to identify bull market pullback support levels. This implementation adds the proximity warning system to help you anticipate potential tests of these key levels rather than waiting for confirmed crosses.

Works on any timeframe but designed for daily monitoring of weekly moving averages.

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.