How this indicator works:
This indicator detects Crossovers based on the current trend. It checks wether the current close price is above or below the 200 and therefore decides whether we are in an up- or down trend.
UP-TREND: If the price is above the EMA200, the is below 0 and crosses up the signal line, then this is a BUY signal!
DOWN-TREND: If the price is below the EMA200, is above 0 and crosses down the signal line, then this is a SELL signal!
You can also add an alert, that keeps you informed, once one of these scenario happens for a certain pair!
With this indicator you will never enter against the trend.
Have fun! :)
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.