OPEN-SOURCE SCRIPT
100 Point Scaled EMA
100 Point Scaled EMA is a distinctive indicator that standardizes trend analysis by normalizing price data. Here’s a breakdown of its technical features:
Normalized Exponential Moving Averages (EMAs):
Dual EMAs: Configurable lengths (typically 9 and 21) are applied to calculate EMAs.
Scaling Mechanism: The EMAs are normalized to a fixed 0–100 range using the highest and lowest prices over the last 100 bars, enabling consistent analysis regardless of market volatility.
Integrated Relative Strength Index (RSI):
A 14-period RSI is incorporated to provide additional momentum and overbought/oversold insights.
Dynamic Visual Cues:
Gradient Fills: Visual gradients highlight overbought and oversold regions, enhancing the readability of trend shifts.
Crossover Signals:
The script detects EMA crossovers with specific conditions—crossover events occurring below 25 and above 75—to mark potential trade setups.
This technical approach makes the 100 Point Scaled EMA a powerful tool for traders, offering a simple unique and standardized perspective on market trends.
Normalized Exponential Moving Averages (EMAs):
Dual EMAs: Configurable lengths (typically 9 and 21) are applied to calculate EMAs.
Scaling Mechanism: The EMAs are normalized to a fixed 0–100 range using the highest and lowest prices over the last 100 bars, enabling consistent analysis regardless of market volatility.
Integrated Relative Strength Index (RSI):
A 14-period RSI is incorporated to provide additional momentum and overbought/oversold insights.
Dynamic Visual Cues:
Gradient Fills: Visual gradients highlight overbought and oversold regions, enhancing the readability of trend shifts.
Crossover Signals:
The script detects EMA crossovers with specific conditions—crossover events occurring below 25 and above 75—to mark potential trade setups.
This technical approach makes the 100 Point Scaled EMA a powerful tool for traders, offering a simple unique and standardized perspective on market trends.
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.