Trend Finding by EMAs

20 thg 12, 2023

INTRO

This indicator is a price action based tool used to visualize trends using Exponential Moving Averages (EMAs).

CONCEPTS

It's created with two EMAs with different lengths (9 and 15) based on user-defined parameters. The script calculates the EMAs for the given lengths using the closing prices of the asset.

The EMAs are plotted on the chart, and their colors are dynamically determined by a conditional statement. If slower EMA is crossing above the faster EMA than the color will be change, And vise-versa for the opposite.

USES:-

The visualization of EMAs in different colors assists in identifying potential trends:

• a bullish trend when EMAs color is Blue
  
• and a bearish trend when EMAs color are Red.
  

Purpose

This script provides a quick visual representation of potential trend changes based on the relationship between these two EMAs.

21 thg 12, 2023

Phát hành các Ghi chú

INTRO

This indicator is a price action based tool used to visualize trends using Exponential Moving Averages (EMAs).

CONCEPTS

It's created with two EMAs with different lengths (9 and 15) based on user-defined parameters. The script calculates the EMAs for the given lengths using the closing prices of the asset.

The EMAs are plotted on the chart, and their colors are dynamically determined by a conditional statement. If slower EMA is crossing above the faster EMA than the color will be change, And vise-versa for the opposite.

USES:-

The visualization of EMAs in different colors assists in identifying potential trends:

• a bullish trend when EMAs color is Blue, (Also added Buy signal for easy reading)
  
• and a bearish trend when EMAs color are Red. (Also added Sell signal for easy reading)
  

Purpose

This script provides a quick visual representation of potential trend changes based on the relationship between these two EMAs.

28 thg 6

Phát hành các Ghi chú

Alert Feature Added,
Changed 2nd EMA to 21 for better results. ( You can use anything there )