5X EMA Trend Follower

2016年9月4日

////////////////////////////////////////////////////////////
// Copyright by Randalll.com v1.0 09/03/2016
// This indicator provides 5 Exponential Moving Averages.
// Works well on 1D,4H,1H TF
// To be used with traditional trend following strategies.
// Example
// If 50/100/200 trending in same direction. Then buy/sell
// with trend direction. Use PA, pinbar, news catalyst
// or pullback to 50E for Entry signal.
// Use 2x ATR for SL, set no TP. Ride the trend to the end.
// Exit when 10 crosses 20, or 20 crosses 50
// in volitile markets.
// As always use at your own risk and stay awesome.
// by randalll.com
////////////////////////////////////////////////////////////
study(title="5X EMA Trend Follower", overlay=true)
short1 = ema(close, 10)
short2 = ema(close, 20)
long1 = ema(close, 50)
long2 = ema(close, 100)
long3 = ema(close, 200)
plot(short1, color = green)
plot(short2, color = red)
plot(long1, color = blue)
plot(long2, color = purple)
plot(long3, color = black)

2018年10月7日

版本注释

Works well with RSI 26, as shown and my value channel system,
I use the 5XEMA on 1H for support and resistance ideas in confluence with Fib or Percentage pullback zones.

I use Weekly, Daily and 1H Charts for overall big picture ideas and then price action for entry and exits.

I trade the first 35-45 minutes of the TSX/TSXV open, I do not wait for the candle to print, but watch live price action due to 15 minute delay of my charts.
I use my charts only for historical data and for watching zones.


use at your own risk!

2018年11月4日

版本注释

Change Log
I have modified the EMA back to the more traditional levels, 10,20,50,75,200
EMA is calculated on Close, no longer ohlc4 (period average)
Added titles for clarity.

2018年11月4日

版本注释

Corrected typo in the code to resolve EMA 200 Not showing correctly.