OPEN-SOURCE SCRIPT
Updated EMA Pullback Study
A colored EMA (period can be chosen via inputs).
A signal is generated on the first price touch of the EMA following the price floating above or below it for several bars.
- If EMA is green and a green up arrow appears (price touch), look for buys.
- If EMA is red and a red down arrow appears look for sells.
Can be used with a longer period MA to confirm overall direction, MTF, chop zone, etc.
May wish to enter on the signal, or wait for price to turn back in direction of the trend.
Still in development!
A signal is generated on the first price touch of the EMA following the price floating above or below it for several bars.
- If EMA is green and a green up arrow appears (price touch), look for buys.
- If EMA is red and a red down arrow appears look for sells.
Can be used with a longer period MA to confirm overall direction, MTF, chop zone, etc.
May wish to enter on the signal, or wait for price to turn back in direction of the trend.
Still in development!
Release Notes
Updated to add ADX Filter.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.