OPEN-SOURCE SCRIPT
EMA Touch & Color-Filtered Engulfing
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Title
EMA Touch & Color-Filtered Engulfing [High-Precision]
Description
🚀 Overview
This indicator is a professional-grade price action tool designed for high-probability trend-following entries. It combines 4-layer Exponential Moving Averages (EMA) with a Strict Color-Filtered Engulfing logic.
The script is optimized to find moments where the market sentiment completely shifts—confirmed by price breaking through the previous candle's extreme levels (Highs/Lows) while reversing the candle color.
💎 Key Features
Strict Color-Filtered Logic:
Bullish (Long): A Green candle must engulf a Red candle’s High. This confirms that buyers have completely overpowered the previous sellers.
Bearish (Short): A Red candle must engulf a Green candle’s Low. This confirms that sellers have completely overtaken the previous buyers.
High-Break / Low-Break Confirmation: Unlike standard body-only engulfing patterns, this script requires the current close to break the previous candle's wick extremes, ensuring stronger momentum.
4-Layer EMA Structure: Default settings (10, 20, 40, 80) help you visualize dynamic support and resistance zones instantly.
Minimalist Visuals:
The Japanese character "包" (Engulf) marks high-conviction signals.
Small dots indicate precise EMA Touch moments.
📈 How to Trade with This Script
Trend Alignment: Identify the trend direction using the 4 EMA lines.
The Retest: Wait for the price to pull back and touch an EMA line (look for the dot).
The Confirmation: Execute when the "包" signal appears. This indicates that the trend is resuming with enough force to swallow the previous counter-trend candle's range.
🔔 Integrated Alerts
You can set alerts for:
EMA Touches: Be notified the moment price hits your key levels.
Engulfing Signals: Catch momentum shifts as they happen.
Combo Signals (Recommended): Receive an alert only when a "True Engulfing" occurs on an EMA touch—the highest probability setup.
TradingViewのコミュニティで高い評価を得るための、専門的かつ分かりやすい**「完全版・英語説明文」**を作成しました。そのままコピーして投稿にお使いください。
Title
EMA Touch & Color-Filtered Engulfing [High-Precision]
Description
🚀 Overview
This indicator is a professional-grade price action tool designed for high-probability trend-following entries. It combines 4-layer Exponential Moving Averages (EMA) with a Strict Color-Filtered Engulfing logic.
The script is optimized to find moments where the market sentiment completely shifts—confirmed by price breaking through the previous candle's extreme levels (Highs/Lows) while reversing the candle color.
💎 Key Features
Strict Color-Filtered Logic:
Bullish (Long): A Green candle must engulf a Red candle’s High. This confirms that buyers have completely overpowered the previous sellers.
Bearish (Short): A Red candle must engulf a Green candle’s Low. This confirms that sellers have completely overtaken the previous buyers.
High-Break / Low-Break Confirmation: Unlike standard body-only engulfing patterns, this script requires the current close to break the previous candle's wick extremes, ensuring stronger momentum.
4-Layer EMA Structure: Default settings (10, 20, 40, 80) help you visualize dynamic support and resistance zones instantly.
Minimalist Visuals:
The Japanese character "包" (Engulf) marks high-conviction signals.
Small dots indicate precise EMA Touch moments.
📈 How to Trade with This Script
Trend Alignment: Identify the trend direction using the 4 EMA lines.
The Retest: Wait for the price to pull back and touch an EMA line (look for the dot).
The Confirmation: Execute when the "包" signal appears. This indicates that the trend is resuming with enough force to swallow the previous counter-trend candle's range.
🔔 Integrated Alerts
You can set alerts for:
EMA Touches: Be notified the moment price hits your key levels.
Engulfing Signals: Catch momentum shifts as they happen.
Combo Signals (Recommended): Receive an alert only when a "True Engulfing" occurs on an EMA touch—the highest probability setup.
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.