PROTECTED SOURCE SCRIPT
EMA width ratio
USE AT YOUR OWN RISK!!!
This is still an experimental script under development.
The script takes the Percentage change/ratio of shorter time frame EMA (for eg: 21) over the 200 period EMA and plots the widening.
This can be used as an indication of bullish or bearish momentum in a certain direction. Plotting an RSI on this indicator results in a much more correlated and smoother RSI to price which can be used to trade as follows.
When price is above 200EMA, longs when RSI on the EMA width ratio is in oversold zone is profitable. Buy at over sold and close at over bought.
When price is below 200EMA, shorts when RSI on the EMA width ratio is in overbought zone is profitable. Sell at over bought and close at over sold.
In the next versions I plan on implementing further improvements like:
1. Color coding direction of market
2. Combining RSI on EMA into a single indicator.
3. Converting indicator to a strategy.
This is still an experimental script under development.
The script takes the Percentage change/ratio of shorter time frame EMA (for eg: 21) over the 200 period EMA and plots the widening.
This can be used as an indication of bullish or bearish momentum in a certain direction. Plotting an RSI on this indicator results in a much more correlated and smoother RSI to price which can be used to trade as follows.
When price is above 200EMA, longs when RSI on the EMA width ratio is in oversold zone is profitable. Buy at over sold and close at over bought.
When price is below 200EMA, shorts when RSI on the EMA width ratio is in overbought zone is profitable. Sell at over bought and close at over sold.
In the next versions I plan on implementing further improvements like:
1. Color coding direction of market
2. Combining RSI on EMA into a single indicator.
3. Converting indicator to a strategy.
受保护脚本
此脚本以闭源形式发布。 但是，您可以自由使用，没有任何限制 — 了解更多信息这里。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
受保护脚本
此脚本以闭源形式发布。 但是，您可以自由使用，没有任何限制 — 了解更多信息这里。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。