3 Fib EMAs To Scalp Them All

2023년 6월 5일

The "3 Fib EMAs To Scalp Them All" was made in order to clear up when we should look for shorts, longs, or walk away. Also it can alert you when a trend starts, or when there is a possible reversal. I use it for scalping/day trading in 5m-1h timeframes.

1. EMAs: By default, the indicator uses Fibonacci numbers (21, 55, 233), but you can change them.

2. Color Changes: The color of the Micro EMA line changes depending on its relation to the Mid and Macro EMAs.

• When Micro EMA < Mid < Macro EMA, it turns red, indicating a potential bearish trend - that's when you should look for shorts
  
• When Micro EMA > Mid > Macro EMA, it turns green, indicating a potential bullish trend - that's when you should look for longs
  
• A white Micro EMA is when you need to take some rest, enjoy your coffee, and avoid overtrading.
  

3. Signals: The indicator provides visual signals in the form of diamonds and crosses and corresponding alert signals.

• A red diamond above the bar signals a potential beginning of a downtrend
  
• A red cross above the bar signals the end of the downtrend and can be used as a signal for a possible reversal up/breakout.
  
• A green diamond below the bar signals a potential beginning of a downtrend,
  
• A green cross below the bar signals the end of the uptrend and can be used as a signal for a possible reversal down/breakout.
  

4. Alerts: For algo traders and people who prefer to stay away from the monitor... there are alerts for every signal.

Friendly note: Don't blindly follow the signals for your long and short entries. The signals only pop up when the EMA cross value gets a confirmation. A smart move would be to wait for a retracement to the EMA line and use momentum indicators like market cipher B to pinpoint those ideal entry points.

2023년 6월 11일

릴리즈 노트

Fixed downtrend and uptrend alerts

2023년 6월 11일

릴리즈 노트

Fixed alerts

2023년 6월 13일

릴리즈 노트

New Fibonacci bollinger bands. Both upper and lower bands are 1 fib values and can be used for support/resistance. I personally use them for TP exits.

2024년 10월 16일

릴리즈 노트

Repaint fixed.