OPEN-SOURCE SCRIPT
5-8-13 EMA Strategy
5-8-13 EMA Strategy Indicator
This indicator leverages three Exponential Moving Averages (EMAs) with periods of 5, 8, and 13 to identify trend direction and generate actionable trading signals for options, stocks, or other markets. Based on Fibonacci-inspired lengths, the strategy uses the fast-reacting 5 EMA, the smoothing 8 EMA, and the trend-setting 13 EMA to spot momentum shifts.
How It Works:
Buy Call Signal: Triggers when the 5 EMA crosses above the 8 EMA, signaling bullish momentum. Optionally, confirmation requires the candle to close above the 5 EMA with all EMAs stacked bullishly (5 > 8 > 13).
Buy Put Signal: Triggers when the 5 EMA crosses below the 8 EMA, indicating bearish momentum. Confirmation can require a close below the 5 EMA with a bearish stack (5 < 8 < 13).
Signals appear as "Buy Call" (green label below the bar) or "Buy Put" (red label above the bar).
Features:
Customizable signal modes: "Crossover Only" for faster triggers or "Crossover + Close Confirmation" for stricter entries.
Toggle signals on/off via settings.
Visual EMAs (blue 5, orange 8, red 13) overlay the chart for easy trend tracking.
Alert conditions for real-time notifications.
Best Use:
Ideal for day trading on shorter timeframes (e.g., 5-minute charts) or swing trading on longer ones (e.g., 15-minute). Works best in trending markets; pair with additional filters like volume or support/resistance to reduce noise in choppy conditions.
This indicator leverages three Exponential Moving Averages (EMAs) with periods of 5, 8, and 13 to identify trend direction and generate actionable trading signals for options, stocks, or other markets. Based on Fibonacci-inspired lengths, the strategy uses the fast-reacting 5 EMA, the smoothing 8 EMA, and the trend-setting 13 EMA to spot momentum shifts.
How It Works:
Buy Call Signal: Triggers when the 5 EMA crosses above the 8 EMA, signaling bullish momentum. Optionally, confirmation requires the candle to close above the 5 EMA with all EMAs stacked bullishly (5 > 8 > 13).
Buy Put Signal: Triggers when the 5 EMA crosses below the 8 EMA, indicating bearish momentum. Confirmation can require a close below the 5 EMA with a bearish stack (5 < 8 < 13).
Signals appear as "Buy Call" (green label below the bar) or "Buy Put" (red label above the bar).
Features:
Customizable signal modes: "Crossover Only" for faster triggers or "Crossover + Close Confirmation" for stricter entries.
Toggle signals on/off via settings.
Visual EMAs (blue 5, orange 8, red 13) overlay the chart for easy trend tracking.
Alert conditions for real-time notifications.
Best Use:
Ideal for day trading on shorter timeframes (e.g., 5-minute charts) or swing trading on longer ones (e.g., 15-minute). Works best in trending markets; pair with additional filters like volume or support/resistance to reduce noise in choppy conditions.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.