OPEN-SOURCE SCRIPT
EMA SMA 100 Cross
Updated
This script utilizes the 100 EMA and the 100 SMA with printing labels for "Buy", "Short", and "Take Profit".
Essentially this indicator will print a "Buy" label when the 100 EMA(green line) is above the 100 SMA(red line) and "Take Profit" at the pivot points.
NOTE: There will be instances where the labels print based on coded criteria but will be false compared to trend. This is because the 100 EMA and SMA crosses can be short periods and reversals can happen frequently. This indicator should be used in conjunction with other indicators to help build a case for potential long or short entries.
Essentially this indicator will print a "Buy" label when the 100 EMA(green line) is above the 100 SMA(red line) and "Take Profit" at the pivot points.
NOTE: There will be instances where the labels print based on coded criteria but will be false compared to trend. This is because the 100 EMA and SMA crosses can be short periods and reversals can happen frequently. This indicator should be used in conjunction with other indicators to help build a case for potential long or short entries.
Release Notes
UPDATE: Changed the accuracy of "Buy" and "Sell" labels.Changed the frequency of when "Take Profit" labels print.
Added 5 day SMA , 50 day SMA and 200 day SMA to assist with accuracy.
Note: While price is ranging or consolidating, labels will print frequently and have a lower accuracy rate.
This indicator is best used with others such as MACD, MFI and RSI.
Best "Buy" signal is when fast sma>medium sma>100 sma>slow sma.
Release Notes
UPDATE: Updated the color scheme to "Rainbow". This will help identify trends much easier. The clouds turn gray when it's a bear trend and when the "Rainbow" is out it's a bull trend.Ride the Rainbow!
Release Notes
UPDATE: Added 20 EMA and changed 5 EMA to 3 EMA for better label triggering.Added all moving averages and labels to settings for customizing.
To create alerts simply click on the "Alert" tab and change the "Value" drop down to "EMA SMA 100 Cross" then pick which MA you want the alert to trigger on the right.
Release Notes
UPDATE: Added more Buy and Sell labels for better accuracy.Release Notes
UPDATE: Added Buy signals for when 3 SMA is above all other MAs (better buy opportunity before major trend reversal). 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.
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