CHN BUY SELL with EMA 200

6월 3일

Overview

This indicator combines RSI 7 momentum signals with EMA 200 trend filtering to generate high-probability BUY and SELL entry points. It uses colored candles to highlight key market conditions and displays clear trading signals with built-in cooldown periods to prevent signal spam.

Key Features

Colored Candles: Visual momentum indicators based on RSI 7 levels
Trend Filtering: EMA 200 confirms overall market direction
Signal Cooldown: Prevents over-trading with adjustable waiting periods
Clean Interface: Simple BUY/SELL labels without clutter

How It Works

Candle Coloring System

Yellow Candles: Appear when RSI 7 ≥ 70 (overbought momentum)
Purple Candles: Appear when RSI 7 ≤ 30 (oversold momentum)
Normal Candles: All other market conditions

Trading Signals

BUY Signal: Triggered when closing price > EMA 200 AND yellow candle appears
SELL Signal: Triggered when closing price < EMA 200 AND purple candle appears

Signal Cooldown

After a BUY or SELL signal appears, the same signal type is suppressed for a specified number of candles (default: 5) to prevent excessive signals in ranging markets.

Settings

RSI 7 Length: Period for RSI calculation (default: 7)
RSI 7 Overbought: Threshold for yellow candles (default: 70)
RSI 7 Oversold: Threshold for purple candles (default: 30)
EMA Length: Period for trend filter (default: 200)
Signal Cooldown: Candles to wait between same signal type (default: 5)

How to Use

Apply the indicator to your chart
Look for yellow or purple colored candles
For LONG entries: Wait for yellow candle above EMA 200, then enter BUY when signal appears
For SHORT entries: Wait for purple candle below EMA 200, then enter SELL when signal appears
Use appropriate risk management and position sizing

Best Practices

Works best on timeframes M15 and higher
Suitable for Forex, Gold, Crypto, and Stock markets
Consider market volatility when setting stop-loss and take-profit levels
Use in conjunction with proper risk management strategies

Technical Details

Overlay: True (plots directly on price chart)
Calculation: Based on RSI momentum and EMA trend analysis
Signal Logic: Combines momentum exhaustion with trend direction
Visual Feedback: Colored candles provide immediate market condition awareness

6월 7일

릴리즈 노트

With this update I have added alerts for BUY signals, SELL signals or alerts for both BUY and SELL

6월 7일

릴리즈 노트

Updated chart to be clearer and updated announcement to be more concise and easy to understand