OPEN-SOURCE SCRIPT
Fibonacci EMAs / Trend and Chopzone identifier
Mis à jour
Implementation from the highly recommended course "Pinescript Indicator Development" on Udemy
udemy.com/course/pinescript-indicator-development/
This indicator is mostly to show some techniques in Pinescript rather than be useful for trading, however it does nicely identify trend and chop zones (sideways) on the 1-hour or 4-hour chart.
What it does:
- Has three EMAs at varying length and plots these on the chart
- Computes when the EMAs are in bullish configuration (EMA short > Medium > long)
- Computes when EMAs are in bearish configuration (EMA short < Medium < long)
- When the EMAs are crossed there is a chop zone (sideways)
- Colours the background of the chart as Green (bullish), Red (bearish) or Orange (sideways chop zone)
- Also predicts the value of the three EMA's three points into the future using linear regression (showed as dots on the chart)
udemy.com/course/pinescript-indicator-development/
This indicator is mostly to show some techniques in Pinescript rather than be useful for trading, however it does nicely identify trend and chop zones (sideways) on the 1-hour or 4-hour chart.
What it does:
- Has three EMAs at varying length and plots these on the chart
- Computes when the EMAs are in bullish configuration (EMA short > Medium > long)
- Computes when EMAs are in bearish configuration (EMA short < Medium < long)
- When the EMAs are crossed there is a chop zone (sideways)
- Colours the background of the chart as Green (bullish), Red (bearish) or Orange (sideways chop zone)
- Also predicts the value of the three EMA's three points into the future using linear regression (showed as dots on the chart)
Notes de version
Couple more comments Script open-source
Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
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