OPEN-SOURCE SCRIPT
Moroney EMA
The Moroney EMA script is a custom indicator for Trading View that displays three Exponential Moving Averages (EMAs) on a price chart, helping traders identify trends and potential trading opportunities.
Key Features:
1 EMA (Green Line):
A fast-moving EMA that reacts quickly to price changes.
Useful for identifying short-term trends and price momentum.
50 EMA (Red Line):
A medium-term EMA that smooths out price action.
Helps identify intermediate trends and potential support/resistance levels.
200 EMA (Blue Line):
A long-term EMA often used by traders to determine the overall market trend.
Commonly regarded as a significant trend indicator, especially on higher timeframes.
Script Details:
Customization:
Each EMA has an adjustable length and source (default: closing price).
Traders can customize line colours and thickness in the Trading View style settings.
User-Friendly Design:
The script overlays EMAs directly on the price chart for clarity.
It allows traders to visualize short, medium, and long-term trends simultaneously.
Use Cases:
Trend Confirmation:
When the 1 EMA (green) is above the 50 and 200 EMAs, it signals a bullish trend.
Conversely, when the 1 EMA is below the 50 and 200 EMAs, it indicates a bearish trend.
Dynamic Support and Resistance:
The 50 EMA and 200 EMA often act as dynamic support or resistance zones where price may bounce or reverse.
Crossover Signals:
Crossovers between the 1 EMA and the 50/200 EMAs can signal potential entries or exits:
Bullish crossover: The 1 EMA moves above the 50/200 EMA.
Bearish crossover: The 1 EMA moves below the 50/200 EMA.
The Moroney EMA indicator is a versatile and reliable tool for traders of all experience levels who rely on moving averages for trend analysis and trade planning.
Key Features:
1 EMA (Green Line):
A fast-moving EMA that reacts quickly to price changes.
Useful for identifying short-term trends and price momentum.
50 EMA (Red Line):
A medium-term EMA that smooths out price action.
Helps identify intermediate trends and potential support/resistance levels.
200 EMA (Blue Line):
A long-term EMA often used by traders to determine the overall market trend.
Commonly regarded as a significant trend indicator, especially on higher timeframes.
Script Details:
Customization:
Each EMA has an adjustable length and source (default: closing price).
Traders can customize line colours and thickness in the Trading View style settings.
User-Friendly Design:
The script overlays EMAs directly on the price chart for clarity.
It allows traders to visualize short, medium, and long-term trends simultaneously.
Use Cases:
Trend Confirmation:
When the 1 EMA (green) is above the 50 and 200 EMAs, it signals a bullish trend.
Conversely, when the 1 EMA is below the 50 and 200 EMAs, it indicates a bearish trend.
Dynamic Support and Resistance:
The 50 EMA and 200 EMA often act as dynamic support or resistance zones where price may bounce or reverse.
Crossover Signals:
Crossovers between the 1 EMA and the 50/200 EMAs can signal potential entries or exits:
Bullish crossover: The 1 EMA moves above the 50/200 EMA.
Bearish crossover: The 1 EMA moves below the 50/200 EMA.
The Moroney EMA indicator is a versatile and reliable tool for traders of all experience levels who rely on moving averages for trend analysis and trade planning.
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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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.