OPEN-SOURCE SCRIPT

EMA/SMA/BB

Updated

This indicator uses a combination of extension from moving averages, and price volatility on different time scales to give buy and sell signals based upon your preferred risk tolerance. Increasing the buy and sell basis will reduce the chances of false signals, in addition for more advanced users the length of the Bollinger Bands, SMA's, and EMA's used can each be individually adjusted. It is setup for 1 or 2 hour time frames, and when using it on different time scales, it will need to be adjusted.

Release Notes

Added ema's to the plot.

Release Notes

Use the signal crosses of either a linear level or the ema to generate buy or sell signals

Release Notes

Added the "trade" signal, which with a more normalized signal, will give you more precise timing with trade signals, and wont be affected by a market which is strongly trending upwards or downwards.
Also adjusted the buy, and sell basis for 1minute time frames, which will usually give about 1 signal every 30min-1 hour.

Release Notes

Added the additional "difference" plot, which can be used to interpret the strength of any buy or sell signal.

Release Notes

Removed the average, difference plots, removed the circle indicator from the plot. This version is much easier to interpret, when the filled area between both green and red lines is the same color that is a signal for the corresponding trade. for example; when the red line is above the orange line, and the green line is below the blue line, both will be colored red, indicating a sell signal. In addition the linear buy and sell signal remains with the circles.

Release Notes

Added a smoothed version of the data with a second EMA, which will lead to a larger number of correct signals when a market has quickly changed trends.

Release Notes

Simplified the script, to only show the necessary ema's, and buy/sell indicators.

Release Notes

Added alerts for buying and selling;
Green up triangle indicates start buying, teal down indicates stop buying.
Red up triangle indicates start selling, and orange down triangle indicates stop selling.

Release Notes

Removed.

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?

agolabek

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.