This Code Simply Changes the Bar Colors based on if the Bar is Above or Below the EMA.
Inputs via the Inputs Tab: Ability to change the EMA Period. Ability to Turn On/Off the EMA Plotted on the Screen
***Note - I used the HLC/3 To determine if the bar/candle is above or below the EMA. This Filters out the Chop and gets rid of many of the False Breaks above or below the EMA.
Hello Chris, or anyone using this indicator, which time frames would you recommend it works best with, as i am an intraday trader looking for only 20 to 30 pips a day,
viperblck
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@elcronje, it seems working good for daily and weekly tm, try to do a back testing
@elcronje, ive been using it on the 4 hour and seems to work fine
elcronje
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@MartinGama, Thank you, i love the H4 chart too, did you change any of the settings or are you using the defaults?
MartinGama
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@elcronje, I am using default settings! I use the indicator with support and resistance zones that I chart out so the indicator is just a confirmation that the trend is in my favor. I’m backtesting this with a Fibonacci on the 5 min chart with G/J and so far results are spectacular
elcronje
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@MartinGama, hi again, thank you i will back test , be blessed