This script is based on Guppy method (www.guppytraders.com/gup329.shtml
) , it was introduced to me by fellow trader @nmike. I am using this script in conjunction to Clones ,Harmonic and other tools.
Script Function:
a. Script plots the fast and slow Exponential moving averages as ribbons.
EMA's used
EMA (close): 25,30,35,40,45,50,55 (Green)
EMA (close): 89,99,109,119,129,139,149 (Red)
b. It draws the Circle dots in Pink for Sell and Black for Buy.
Script Parameters:
a. EMA : 2 emas for cross
b. Signal Exponential moving average
c. which time frame to Plot the above Signal Exponential
d. Show Guppy Slow - Red - Toggle to show red emas on chart
e. Show Guppy Fast - Green- Toggle to show green emas on chart
How to Trade:
a. Wait for the Pink/Black Dot to appear on Chart
b. Do not take trade immediately after the dot appears. Wait for the price to retrace back and touch the ema ribbons.This will keep you away from fake breakouts.
c. Rentries : in examples below
Examples:
) , it was introduced to me by fellow trader @nmike. I am using this script in conjunction to Clones ,Harmonic and other tools.
Script Function:
a. Script plots the fast and slow Exponential moving averages as ribbons.
EMA's used
EMA (close): 25,30,35,40,45,50,55 (Green)
EMA (close): 89,99,109,119,129,139,149 (Red)
b. It draws the Circle dots in Pink for Sell and Black for Buy.
Script Parameters:
a. EMA : 2 emas for cross
b. Signal Exponential moving average
c. which time frame to Plot the above Signal Exponential
d. Show Guppy Slow - Red - Toggle to show red emas on chart
e. Show Guppy Fast - Green- Toggle to show green emas on chart
How to Trade:
a. Wait for the Pink/Black Dot to appear on Chart
b. Do not take trade immediately after the dot appears. Wait for the price to retrace back and touch the ema ribbons.This will keep you away from fake breakouts.
c. Rentries : in examples below
Examples:
I am a Chart Slave.Thank you TradingView and @nmike.
//@version=1
//based on Guppy method
//Written by : Gc Naif
//Written on : 12/31/2015
study("GC Magic Overlay V2", overlay = true, scale = scale.right)
//input(title="Offset", type=integer, defval=7, minval=-10, maxval=10)
ema55 = input(55, title="EMA 1",minval=55)
ema149= input(149, title="EMA 2",minval=149)
emaSignalHTF= input(200, title="Signal EMA ",minval=200)
resCustom = input(title="Time interval for Signal EMA (W, D, [min 60,120,240])", type=string, defval="240")
ShowSlowGuppyonChart = input(true, title="Show Guppy-Slow-Red On Chart?")
ShowFastGuppyonChart = input(true, title="Show Guppy-Fast-Green On Chart?")
price = close
emav1 = ema(price,25)
emav2 = ema(price,30)
emav3 = ema(price,35)
emav4 = ema(price,40)
emav5 = ema(price,45)
emav6 = ema(price,50)
emav7 = ema(price,55)
emav8 = ema(price,89)
emav9 = ema(price,99)
emav10 = ema(price,109)
emav11 = ema(price,119)
emav12 = ema(price,129)
emav13 = ema(price,139)
emav14 = ema(price,149)
emav55 = ema(price,ema55)
emav149 = ema(price,ema149)
emaHTF = security(tickerid, resCustom, ema(price, emaSignalHTF))
MALongCross1 = crossover(emav55,emav149) ? 1 : 0
MAShortCross1 = crossunder(emav55,emav149) ? 1 : 0
BuySignal = MALongCross1 > 0 and open[0] > emaHTF and close[0] > emaHTF // buy signal
SellSignal = MAShortCross1 > 0 and open[0] < emaHTF and close[0] < emaHTF // Short Signal
BuyGC = BuySignal == 1
SellGC = SellSignal == 1
//plot only if guppy is checked
plot(ShowFastGuppyonChart ? emav55 : na , color=green, transp=0, linewidth=1)
plot(ShowSlowGuppyonChart ? emav149 : na, color=red, transp=0, linewidth=1)
//fast
plot(ShowFastGuppyonChart ? emav1 : na , color=green, transp=0, linewidth=1)
plot(ShowFastGuppyonChart ? emav2 : na , color=green, transp=0, linewidth=1)
plot(ShowFastGuppyonChart ? emav3 : na , color=green, transp=0, linewidth=1)
plot(ShowFastGuppyonChart ? emav4 : na , color=green, transp=0, linewidth=1)
plot(ShowFastGuppyonChart ? emav5 : na , color=green, transp=0, linewidth=1)
plot(ShowFastGuppyonChart ? emav6 : na , color=green, transp=0, linewidth=1)
// slow
plot(ShowSlowGuppyonChart ? emav8 : na , color=red, transp=0, linewidth=1)
plot(ShowSlowGuppyonChart ? emav9 : na , color=red, transp=0, linewidth=1)
plot(ShowSlowGuppyonChart ? emav10 : na , color=red, transp=0, linewidth=1)
plot(ShowSlowGuppyonChart ? emav11 : na , color=red, transp=0, linewidth=1)
plot(ShowSlowGuppyonChart ? emav12 : na , color=red, transp=0, linewidth=1)
plot(ShowSlowGuppyonChart ? emav13 : na , color=red, transp=0, linewidth=1)
plot(emaHTF, color=#ff00ff, transp=0, linewidth=2)
plotshape(BuyGC, style = shape.circle,location=location.belowbar, color=black, transp=0,size = size.small)
plotshape(SellGC, style = shape.circle,location=location.abovebar, color=#ff00ff , transp=0,size = size.small)