OPEN-SOURCE SCRIPT
PSAR + EMA + TEMA
Updated
Combined PSAR with EMA and/or TEMA lines, including fast/slow plots, for entry/exit signals. Includes signals for all plots.
Credit to TEMA With Alert by BerkSay and Parabolic SAR by Alex Orekhov (everget).
Credit to TEMA With Alert by BerkSay and Parabolic SAR by Alex Orekhov (everget).
Release Notes
Updated:- Added summary table: shows red/yellow/green for bearish/neutral/bullish signals for PSAR/EMA/TEMA/RSI.
- Added RSI to summary table: shows value, direction of last movement (up or down arrow) and red/yellow/green for overbought,
neutral, or oversold. - Changed crossover symbols to they resize more gracefully.
If there are additional indicators etc that you would like added, please let me know! Happy to add more if you'd like.
Release Notes
Added more indicators to the summary table:- SRSI
- WaveTrend by LB
- Squeeze Momemtum by LB
- CCI
Don't use the summary table to make trading decisions - it's intended to give you a quick heads up so you can check the plots. Then you can get a better sense of whether or not to enter a position.
Release Notes
- Changed example plot to standard candles.
- Added change arrows to EMA and TEMA.
- Added suggested use to docs.
Release Notes
Version 09 AUG 2021 update:- Added Ehler's MESA Adaptive Moving Average option.
- Adjusted the "traffic light" table to include volume indicators
- Added ability to change buy/sell labels based on EMA, TEMA, or eMAMA confirmation signals.
Depending on your style and the instrument you are trading, you may use the PSAR plus either the EMA, TEMA, or eMAMA to make decisions. The length of those plots will also depend on the instrument and timeframe you use.
I will be coming out with a strategy version soon, so that you may more easily play with different parameters.
Release Notes
Added a third EMA plot. This plot is for visual reference only. No entry/exit signals are shown based on this plot.Release Notes
- Added ability to filter entries/exits on a 3rd EMA.
- Added RSI and OBV as alternative PSAR confirmation signals.
- Reorganized code to make it more readable.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Want to use this script on a chart?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.