[THETA] Tema Hema Evwma Trade Action

Is an Intraday Strategy Indicator, To be used over 1 minute chart and in conjunction with built in pine indicator Pivot Point Standard, {Fibonacci One}

I came across this Strategy Indicator while reading through the Forex Trading Journals, and thought of sharing you guys

The Indicator Comprises of amalgamation of
TEMA : Triple Exponential Moving Average
HMA : Hulls Moving Average
EVWMA and EMA: Elastic Volume weighted Moving Average and Exponential Moving Average
Filter Action by Rajandran R Supertrend

Theta = ( tema(src, length) + hma(src, length) + ema(src, length) + evwma(src, length) )/4

The lengths in use are: 8,21,34,55,89,144,233,610

How to Use
Use on 1 min chart for best results
UsE in Conjuction with Fibonacci Pivot Points, (.which is present in option of built in pine indicator : Pivot Point Standard )

Provision For Alert
Long theta Signal
Short theta Signal

Get Quality Free-mium Indicators (
On Scripts Section of myProfile

About me
I Wake Trade Eat Sleep Daily!
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 a publication is governed by House Rules. You can favorite it to use it on a chart.


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.

Want to use this script on a chart?