"50 EMA Proximity & Crossover Alert"

3 days ago

This script provides traders with a powerful tool for monitoring interactions with the 50-period Exponential Moving Average (EMA). It offers two key features:

1. Proximity Alerts: The script detects when the price is approaching the 50 EMA within a customizable proximity threshold (default: 0.1%).
   
2. Crossover Alerts: Notifications are triggered when the price crosses the 50 EMA, either from above or below.
   

Key Features:

• 50 EMA Calculation: The 50-period Exponential Moving Average is plotted as a blue line for trend analysis.
  
• Dynamic Proximity Detection: Alerts are triggered only when the price dynamically moves into the defined proximity range of the 50 EMA. This prevents constant notifications in choppy conditions.
  
• Visual Highlighting: The chart background turns green when the price enters the proximity zone, making it easy to identify areas of interest visually.
  
• Customizable Threshold: The proximity threshold is set to 0.1% of the EMA value by default but can be adjusted directly in the script for tighter or wider zones.
  
• Two Alert Types:
  
• Proximity Alert: When the price nears the EMA.
  
• Crossover Alert: When the price crosses the EMA.
  

How It Works:

• EMA Calculation: The 50 EMA is calculated using the ta.ema() function in Pine Script.
  
• Proximity Threshold: The script uses a threshold defined as a percentage of the EMA value (0.001 * ema50 by default).
  
• Dynamic Conditions: Alerts are only triggered when the price enters the proximity zone dynamically, avoiding constant signals when the price lingers near the EMA.
  
• Visual Representation: The green background highlights proximity areas, while the alert system notifies you of key events.
  

Usage Instructions:
Add the script to your chart.
Adjust the proximity threshold (schwelle) in the script if needed.

Set up alerts in TradingView:

1. Proximity Alert: Notify when the price is close to the EMA.
   
2. Crossover Alert: Notify when the price crosses the EMA.
   
3. Use the visual green background as a quick reference for areas of interest.
   

Ideal For:

• Traders who rely on EMA-based strategies for scalping, swing trading, or trend-following.
  
• Those looking for a tool to notify them of key EMA interactions without constant chart monitoring.
  

Chart Example:
The script is designed to work cleanly on any time frame (5m, 15m, 1h, etc.). A sample chart shows:

• The 50 EMA as a blue line.
  
• A green background indicating proximity zones.
  
• Alerts set for proximity and crossover.