OPEN-SOURCE SCRIPT
EMA Trend Following Strategy with Compression Check
This strategy reviews the first 2 hours of the daily crypto trading session and assesses whether or not the session is likely to be a trending session or one of chop.
If the 12/21 EMA bands flip more than once during the first 2 hours of the session, it is written off as chop and no trade is placed. If the bands start bullish and but are compressing within the first 2 hours of the session, no trade is placed.
A trade is placed if the bands hold their order and don't compress within 2 hours of the session starting.
If the 12/21 EMA bands flip more than once during the first 2 hours of the session, it is written off as chop and no trade is placed. If the bands start bullish and but are compressing within the first 2 hours of the session, no trade is placed.
A trade is placed if the bands hold their order and don't compress within 2 hours of the session starting.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.