happyTacos

AM_ZLWMA Crossover_x

Dear All,

Please find updated version of Zero lag WMA crossover. In addition to this added 20/50 EMA to get better results.

Settings:
ZLWMA = 8 identified by Blue line
Fast WMA = 21 identified by Red line
EMA Period 20/50

How to Trade:

Buy: Wait for positive crossover (Blue cross above Red) to happen trade can be taken there but to get better results post crossover once price move above EMA 20 then buy can be initiated.
Sell: Wait for negative crossover (Blue cross below Red) to happen trade can be taken there but to get better results post crossover once price move below EMA 20 then sell can be initiated.

Reason to wait for confirmation of price action above / Below moving average is most of the time it happens that even after crossover happens sometimes it was just a pull back and from there it could be a possibility for reversal. Once price action confirms moving above / below EMA20 then trade will be initiated.

Please comment and ask for any doubt
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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