Stochastic Buy Sell with EMA Trend is combination of two indicators only.
The Stochastic Oscillator ( STOCH ) is a range bound momentum oscillator. The Stochastic indicator is designed to display the location of the close compared to the high/low range over a user defined number of periods. Typically, the Stochastic Oscillator is used for three things; Identifying overbought and oversold levels, spotting divergences and also identifying bull and bear set ups or signals.
The Exponential Moving Average (EMA) is a specific type of moving average that points towards the importance of the most recent data and information from the market.
1) Stochastic - It is giving signal whenever cross happen in oversold or overbought zone. 2) EMA 200 - EMA 200 is used to identify market trend.
Long : If stochastic giving buy signal and price is over 200 EMA.
Short : If stochastic giving sell signal and price is below 200 EMA.
This indicator is great and is very close to what I have been looking for. Could you help me create it ?
It is based on the same 200 EMA, when price is above only buy signals and below the 200EMA then only sell signals.
The difference is I would like to use the Williams %r and the alert would happen when the Williams line crossed the mid line (-50). But as it happens, not on the close of the candle. So the alert would work on the "Once Per Bar" idea. It would be great if you could make something like this. I mostly use the 4H chart. But all indicators can be set "On chart" and not on specific timeframes. But all the options in the indicator would be great too.