OPEN-SOURCE SCRIPT

[THETA] Tema Hema Evwma Trade Action

THETA
Is an Intraday Strategy Indicator, To be used over 1 minute chart and in conjunction with built in pine indicator Pivot Point Standard, {Fibonacci One}

I came across this Strategy Indicator while reading through the Forex Trading Journals, and thought of sharing you guys

The Indicator Comprises of amalgamation of
TEMA : Triple Exponential Moving Average
HMA : Hulls Moving Average
EVWMA and EMA: Elastic Volume weighted Moving Average and Exponential Moving Average
Filter Action by Rajandran R Supertrend

So
Theta = ( tema(src, length) + hma(src, length) + ema(src, length) + evwma(src, length) )/4

The lengths in use are: 8,21,34,55,89,144,233,610

How to Use
Use on 1 min chart for best results
UsE in Conjuction with Fibonacci Pivot Points, (.which is present in option of built in pine indicator : Pivot Point Standard )

Provision For Alert
Long theta Signal
Short theta Signal

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

Ankit_1618

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About me
AlgoTrading Certification, ( University of Oxford, Säid Business School )
PGP Research Analysis, ( NISM, SEBI )
Electronics Engineer

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Disclaimer

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Open-source script

Ankit_1618

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