xkavalis

10/5 Weekly/Daily EMAs with Confirmations

Plots Daily and Weekly 10 & 5 EMAs (but fully customizable to your own).

In addition to plotting the EMAs it color coordinates trend bias and has cross confirmation signals.

Philosophy and how to read:

I use this indicator when trading strictly on the daily timeframe . I have not tested it on other timeframes.

In my trade system I start with both the monthly and weekly charts to define overall bias.

Here’s the general rule of thumb.

10 EMA is direction (bias) and 5 EMA is price.

If 5EMA is below 10EMA there is a bear bias. If 5EMA is above 10EMA there is a bull bias.

This indicator will plot both the daily and weekly 10 & 5 EMAs.

It will also color code the background based on how these EMAs relate to each other.
  • Light red typically is just the daily is confirmed bear (typically because it could be either or)
  • Dark red, both daily and weekly in confirmed bear.
  • Light green, typically just daily is confirmed bull (typically because it could be either or)
  • Dark green, both daily and weekly in confirmed bull.

In addition to background highlight there is confirmation crosses.

  • The daily confirmation cross is default yellow triangle.
  • Down triangle is 5 crossing the 10 downward.
  • Up triangle is the 5 crossing the 10 upward.
  • The weekly confirmation is the same only is aqua color.

Generally, on a color change you want to see one or both confirmation in the direction of the bias change.

If you only want to plot the daily bias in the options unclick the setting: Include Weekly Background Plotting. Unclicking this will remove the background coloring for the weekly bias. This might be helpful if you only want to see the strength of what the weekly timeframe is telling you.

Also, I’m primarily a trend trader but I also do have a reversal system I trade with lower R:R parameters.

A good reversal confirmation signal I’ve noticed is the instrument that you are trading should go through a cycle of light color to dark color.

You could also create alerts with this indicator based on just signals. When the signal fires the value will be 1.

Future Updates:
I want to find some way to correlate the distance between these EMAs to enhance the signal. Also to include a velocity component. Plus a few more things.

If you like this indicator please like and leave a comment down below.

릴리즈 노트: This update includes a few more options and the ability to turn things off individually.

  • Option to turn on/off daily bias color
  • Option to turn on/off weekly bias color
  • Option to set a daily fast EMA bias color and length of lookback

With the fast EMA daily look back. The default is 3. What this means is if the last 3 periods on the daily fast 5 EMA is rising then a bull bias will be painted (green). If the last 3 periods are falling then bear bias will be painted (red).
릴리즈 노트: This update changes some of the logic from before.

For the daily timeframe it used to use the chart resolution. While this is helpful it deviates from the true stated purpose of this indicator.

A weekly and daily 10/5 EMA cross and bias indicator. This update now ensures that the daily timeframe will be used.

I also updated the naming of the variables so this indicator can be easily copied and pasted to the Strategy Tester.

Next version we'll be adding to alerts to crosses.
오픈 소스 스크립트

진정한 TradingView의 정신에 따라, 이 스크립트의 작성자는 스크립트를 오픈소스로 게시했기에 거래자들이 이해하고 확인할 수 있습니다. 작가님께 건배! 스크립트를 무료로 사용할 수 있지만, 게시물에서 이 코드를 재사용하는 것은 하우스룰을 따릅니다. 당신은 스크립트를 차트에 사용하기 위해 그것을 즐겨찾기 할 수 있습니다.

차트에 이 스크립트를 사용하시겠습니까?
Check out my google doc: The Ultimate Primer on trading BTC, ETH, and crypto ALT coins you can find: https://goo.gl/mS2cj8

코멘트

홈으로 스탁 스크리너 포렉스 스크리너 크립토 스크리너 이코노믹 캘린더 정보 차트 특징 프라이싱 프렌드 리퍼하기 하우스룰(내부규정) 헬프 센터 웹사이트 & 브로커 솔루션 위젯 차팅 솔루션 라이트웨이트 차팅 라이브러리 블로그 & 뉴스 트위터
프로화일 프로화일설정 계정 및 빌링 리퍼드 프렌즈 코인 나의 서포트 티켓 헬프 센터 비밀메시지 채팅 로그아웃