OPEN-SOURCE SCRIPT
WP_MM
Updated
This indicator is set with 3 EMA's:
When EMA9 is up to EMA20 and:
the range will be painted in green. And if the EMA 9 is below EMA20 and
the same rules above is true, rthe range will be painted in red
Strengh Candle:
OBS: More info inside code comments
- - EMA9
- - EMA20
- - EMA50
When EMA9 is up to EMA20 and:
- - the distance between them is up to 30 ticks
- - both is directional ( diff between current ema and last ema is up to 15 ticks )
the range will be painted in green. And if the EMA 9 is below EMA20 and
the same rules above is true, rthe range will be painted in red
Strengh Candle:
- - Candle without huge shadow
- - If is bearish minium down shadow
- - if is bullish minimum up shadow
OBS: More info inside code comments
Release Notes
Release Notes- - Not considering high and low to 100% of candle size.
- - Considering 100% of size from open and close (candle body)
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.
Want to use this script on a chart?
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.