OPEN-SOURCE SCRIPT
Febres Strategy
The strategy consist in every time that price failed to break any of the EMAs, we need to wait for the right price action and make a buy or sell when it bounce from it to keep surfing on the trend (using the stochastic oscillator and the 5-13 EMAs cross as an additional confirmation).
When do we start looking for a change on the trend? When it repeats the blue tracer (high or low of the previous day) without breaking it and bouncing from it, there will be our signal to start looking for a change of direction on the trend.
Only applicable on 15 minute chart.
When do we start looking for a change on the trend? When it repeats the blue tracer (high or low of the previous day) without breaking it and bouncing from it, there will be our signal to start looking for a change of direction on the trend.
Only applicable on 15 minute chart.
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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