Pip collector [LazyBear]

15 thg 4, 2015

A simple but effective Forex strategy requested by user @pipcollector.

Suggested chart timeframe is 5mins.

Indicator marks potential long/short entries based on the following conditions:

LONG
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• Price above pip median ema on daily, 4 hour and 1 hour timeframe. These 3 timeframes and median EMA lengths are configurable.
  
• Background color is set to GREEN (if option is enabled).
  
• As soon as price touches or crosses the median ema, a GREEN arrow is shown to mark potential long.
  

SHORT
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• Price below pip median ema on daily, 4 hour and 1 hour timeframe. These 3 timeframes and median EMA lengths are configurable.
  
• Background color is set to RED (if option is enabled).
  
• As soon as price touches or crosses the median ema, a RED arrow is shown to mark potential short.
  

NO SETUP
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• Moving averages do not align on the 3 timeframes.
  
• Background color is set to GRAY (if option is enabled)
  

I have noticed that this works well on other instruments too (anything trending), also on higher time frames. Feel free to leave any questions/comments on this below.

List of my public indicators: bit.ly/1LQaPK8
List of my app-store indicators: blog.tradingview.com/?p=970