PivotEMA@scorpiomanojFRM

28 thg 8, 2019

This plots the running pivots along with 50 period EMA of the running pivots.

It is a very good indicator for intraday entries. It has to be used in conjunction with 'Updated Floor Pivots at scorpiomanojFRM'.

How to use it?

If price is above Floor Pivot and this indicator has crossed up 50 period EMA it signals buy.
If price is below Floor Pivot and this indicator has crossed down 50 period EMA it signals short.

Exits should be cross down of 50 period ema in case of buy exit and cross up of 50 period ema in case of short exit.

Good Luck. Trade Well.

28 thg 8, 2019

Phát hành các Ghi chú

Updated version has more sophistication than previous version.
It calculates the pivots based on current trading day's h/l/c since the beginning of the day.
This indicator apart from providing right entry signals, it also tells you when not to trade.
When this indicator is a float horizontal line irrespective of whether it is above floor pivots or below floor pivots of prev day, it is a non trending market and hence no trades.
As in the 1st version, Buy signal is when the current pivot moves above 50 ema AND the price is above the floor pivots generated from prev day hlc. Vice versa for short signal. Sell and cover can be executed based on risk appetite.

28 thg 8, 2019

Phát hành các Ghi chú

This version is further updated with even further sophistication. The following are the features:

1) Provides running pivot based on the high,low and close since start of the day and its 50 ema.
2) Provides running pivot based on the individual high,low and close of the candle and its 50 ema.

Users have the option to choose either 1 or 2 or both.

The ideal trading setup for buy would be :

If 1 and 2 crosses above 50 ema either simultaneously or one after another; One can trade a buy if either of them crosses over 50 ema. The other common condition is price should be above floor pivot.

Vice versa for short.

GoodLuck TradeWell.