OPEN-SOURCE SCRIPT
EMA Trend & Inside Bar | TuanVungTau
EMA Trend & Inside Bar | TuanVungTau
This indicator combines the power of Exponential Moving Averages (EMA) and Inside Bar detection to provide traders with comprehensive tools for analyzing trends and key price patterns. Designed for both trend-following and price action traders, it enables precision in identifying market conditions and potential trade opportunities.
Key Features
EMA Trend Analysis:
Plots up to 5 customizable EMAs with adjustable lengths (default: EMA 10, 20, 50, 100, 200).
Provides a clear visual trend background based on the relationship between EMA 1, EMA 2, and EMA 3:
Green Background: Uptrend (EMA 1 > EMA 2 > EMA 3).
Red Background: Downtrend (EMA 1 < EMA 2 < EMA 3).
Gray Background: Neutral (No clear trend).
Custom Moving Average (MA):
Allows users to plot a custom moving average (EMA, SMA, WMA, VWMA) with user-defined length and color.
Inside Bar Detection:
Automatically detects Inside Bar candlestick patterns (candles with lower highs and higher lows compared to the previous candle).
Highlights detected Inside Bars on the chart with a customizable color.
EMA Cross Alerts:
Detects and marks crossover and crossunder events between all EMA pairs (e.g., EMA 1 crossing EMA 2).
Provides visual circles at crossover points to help traders identify key moments.
Alerts for Key Events:
Notifies traders when a trend starts (Uptrend or Downtrend) or when an Inside Bar forms.
Alerts can be configured to align with specific trading strategies.
User-Friendly Customization:
Toggle visibility and customize colors for each EMA.
Adjust trend colors and transparency to suit personal preferences.
Trading Ideas
Trend-Following Strategy: Utilize the trend background and EMA alignment to identify strong trends.
Entry Example: Enter long trades when the background is green and short trades when the background is red.
Inside Bar Breakout: Use detected Inside Bars as potential breakout points.
Entry Example: Place a buy stop above the high or a sell stop below the low of the Inside Bar.
Crossover Confirmation: Combine EMA crossovers with trend background for confirmation.
Entry Example: Look for EMA 1 crossing EMA 2 upwards during a green trend background for stronger signals.
This indicator offers powerful, customizable tools to suit a variety of trading styles, enhancing both analysis and execution.
Developed with precision and passion by TuanVungTau | nhattuan.com
This indicator combines the power of Exponential Moving Averages (EMA) and Inside Bar detection to provide traders with comprehensive tools for analyzing trends and key price patterns. Designed for both trend-following and price action traders, it enables precision in identifying market conditions and potential trade opportunities.
Key Features
EMA Trend Analysis:
Plots up to 5 customizable EMAs with adjustable lengths (default: EMA 10, 20, 50, 100, 200).
Provides a clear visual trend background based on the relationship between EMA 1, EMA 2, and EMA 3:
Green Background: Uptrend (EMA 1 > EMA 2 > EMA 3).
Red Background: Downtrend (EMA 1 < EMA 2 < EMA 3).
Gray Background: Neutral (No clear trend).
Custom Moving Average (MA):
Allows users to plot a custom moving average (EMA, SMA, WMA, VWMA) with user-defined length and color.
Inside Bar Detection:
Automatically detects Inside Bar candlestick patterns (candles with lower highs and higher lows compared to the previous candle).
Highlights detected Inside Bars on the chart with a customizable color.
EMA Cross Alerts:
Detects and marks crossover and crossunder events between all EMA pairs (e.g., EMA 1 crossing EMA 2).
Provides visual circles at crossover points to help traders identify key moments.
Alerts for Key Events:
Notifies traders when a trend starts (Uptrend or Downtrend) or when an Inside Bar forms.
Alerts can be configured to align with specific trading strategies.
User-Friendly Customization:
Toggle visibility and customize colors for each EMA.
Adjust trend colors and transparency to suit personal preferences.
Trading Ideas
Trend-Following Strategy: Utilize the trend background and EMA alignment to identify strong trends.
Entry Example: Enter long trades when the background is green and short trades when the background is red.
Inside Bar Breakout: Use detected Inside Bars as potential breakout points.
Entry Example: Place a buy stop above the high or a sell stop below the low of the Inside Bar.
Crossover Confirmation: Combine EMA crossovers with trend background for confirmation.
Entry Example: Look for EMA 1 crossing EMA 2 upwards during a green trend background for stronger signals.
This indicator offers powerful, customizable tools to suit a variety of trading styles, enhancing both analysis and execution.
Developed with precision and passion by TuanVungTau | nhattuan.com
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