EMA OB (TRADEMASTER INSTITUTE)

6 hours ago

//version=5
indicator("SMC/ICT Strategy with EMA, Order Blocks, Liquidity", overlay=true)

// 200 EMA
ema200 = ta.ema(close, 200)

// Support/Resistance from 200 EMA
supportCondition = close > ema200 and ta.lowest(close, 5) == close
resistanceCondition = close < ema200 and ta.highest(close, 5) == close

// Fair Value Gap detection (simplified)
isFairValueGap = high[1] < low[3] or low[1] > high[3]

// Plot the EMA
plot(ema200, color=color.blue, linewidth=2)

// Buy/Sell signals based on 200 EMA and Fair Value Gap
buySignal = supportCondition and isFairValueGap
sellSignal = resistanceCondition and isFairValueGap

// W and M Pattern Detection for Strong Buy/Sell (simplified)
wPattern = low[2] < low[3] and low[1] > low[2] and close > ema200
mPattern = high[2] > high[3] and high[1] < high[2] and close < ema200

// Alternative to label.new: Using plotshape to mark buy/sell signals
plotshape(series=buySignal and wPattern, title="Strong Buy", location=location.belowbar, color=color.green, style=shape.labelup, text="Strong Buy")
plotshape(series=sellSignal and mPattern, title="Strong Sell", location=location.abovebar, color=color.red, style=shape.labeldown, text="Strong Sell")