OPEN-SOURCE SCRIPT
[NM] EMADiff v01 - an indicator for everyone !

Allright gang, we are here with a new indicator that should help you with determining the direction to trade or whether you should trade at all.
It uses the close of the candle and 2 EMAs.
The faster moving line is the difference between the close and the Slow EMA, while the slower moving line shows the difference between the Fast EMA and the Slow EMA.
There are a couple of ways you can use this indicator, depending on your trading style :
For the quick profit, in and out :
- enable the safer trading option and keep smoothing at the default setting, buy when both lines are green, sell when both line are red and get out when one of the lines changes color (or when profit target is reached) (see the top option)
For longer trades :
- you can increase the smoothing, use a higher Slow EMA and disable the Safer trading option, enter either when both lines have the same color, either on a crossover. (the bottom option)
In both cases, if both lines hover around the zero line, the trend is definitely not strong.
Much more options are available so I would love to hear how you use this indicator. A thumbs up if you like it would be highly appreciated :)
Works nicely together with my other indicators below :
![[RS][NM]Improved Linear Regression Bull and Bear Power v01](https://s3.tradingview.com/4/4X2icV1L_mid.png)
![[NM]Improved Linear Regression Bull and Bear Power v02](https://s3.tradingview.com/g/GQZct22g_mid.png)
To add this indicator (or any other) to your chart, click the "Add to favorites" button. Then while having the chart you wish to apply it to open, click on Indicators > Favorites > [NM] EMADiff v01 (or any other indicator that you favorited.
It uses the close of the candle and 2 EMAs.
The faster moving line is the difference between the close and the Slow EMA, while the slower moving line shows the difference between the Fast EMA and the Slow EMA.
There are a couple of ways you can use this indicator, depending on your trading style :
For the quick profit, in and out :
- enable the safer trading option and keep smoothing at the default setting, buy when both lines are green, sell when both line are red and get out when one of the lines changes color (or when profit target is reached) (see the top option)
For longer trades :
- you can increase the smoothing, use a higher Slow EMA and disable the Safer trading option, enter either when both lines have the same color, either on a crossover. (the bottom option)
In both cases, if both lines hover around the zero line, the trend is definitely not strong.
Much more options are available so I would love to hear how you use this indicator. A thumbs up if you like it would be highly appreciated :)
Works nicely together with my other indicators below :
![[RS][NM]Improved Linear Regression Bull and Bear Power v01](https://s3.tradingview.com/4/4X2icV1L_mid.png)
![[NM]Improved Linear Regression Bull and Bear Power v02](https://s3.tradingview.com/g/GQZct22g_mid.png)
To add this indicator (or any other) to your chart, click the "Add to favorites" button. Then while having the chart you wish to apply it to open, click on Indicators > Favorites > [NM] EMADiff v01 (or any other indicator that you favorited.
开源脚本
本着TradingView的真正精神,此脚本的创建者将其开源,以便交易者可以查看和验证其功能。向作者致敬!虽然您可以免费使用它,但请记住,重新发布代码必须遵守我们的网站规则。
Check out my FREE indicator scripts:
► tradingview.com/u/Profit_Through_Patience/
► tradingview.com/u/Profit_Through_Patience/
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神,此脚本的创建者将其开源,以便交易者可以查看和验证其功能。向作者致敬!虽然您可以免费使用它,但请记住,重新发布代码必须遵守我们的网站规则。
Check out my FREE indicator scripts:
► tradingview.com/u/Profit_Through_Patience/
► tradingview.com/u/Profit_Through_Patience/
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。