OPEN-SOURCE SCRIPT
Touch 30 EMA & 150 EMA - Candle Signal
//version=5
indicator("Touch 30 EMA & 150 EMA - Candle Signal", overlay=true)
// Calculate EMAs
ema30 = ta.ema(close, 30)
ema150 = ta.ema(close, 150)
// Candle types
isGreen = close > open
isRed = close < open
// Candle touches both EMAs (either open-high-low-close range includes both)
touchesBothEMAs = low <= ema30 and high >= ema30 and low <= ema150 and high >= ema150
// Signals
greenArrow = isGreen and touchesBothEMAs
redArrow = isRed and touchesBothEMAs
// Plot arrows
plotshape(greenArrow, title="Green Candle Touch", location=location.belowbar, color=color.green, style=shape.arrowup, size=size.small)
plotshape(redArrow, title="Red Candle Touch", location=location.abovebar, color=color.red, style=shape.arrowdown, size=size.small)
// Plot EMAs for reference
plot(ema30, color=color.orange, title="EMA 30")
plot(ema150, color=color.blue, title="EMA 150")
indicator("Touch 30 EMA & 150 EMA - Candle Signal", overlay=true)
// Calculate EMAs
ema30 = ta.ema(close, 30)
ema150 = ta.ema(close, 150)
// Candle types
isGreen = close > open
isRed = close < open
// Candle touches both EMAs (either open-high-low-close range includes both)
touchesBothEMAs = low <= ema30 and high >= ema30 and low <= ema150 and high >= ema150
// Signals
greenArrow = isGreen and touchesBothEMAs
redArrow = isRed and touchesBothEMAs
// Plot arrows
plotshape(greenArrow, title="Green Candle Touch", location=location.belowbar, color=color.green, style=shape.arrowup, size=size.small)
plotshape(redArrow, title="Red Candle Touch", location=location.abovebar, color=color.red, style=shape.arrowdown, size=size.small)
// Plot EMAs for reference
plot(ema30, color=color.orange, title="EMA 30")
plot(ema150, color=color.blue, title="EMA 150")
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.
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.
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.
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.