OPEN-SOURCE SCRIPT
EMA_Convergence
First I have to give kudos to my son who I asked to take a shot at creating this little indicator. Nice work son!
While trading, one of the things I look for is when price or certain EMA's approach another EMA. The example that I use on this 1 minute SPY chart is an 8 EMA and 20 EMA. I am looking for when the 8 and 20 are within' 3 cents of each other. Many times when they are getting close, price is approaching a top or bottom. I am looking for a candlestick reversal around that area. You may want to know when PRICE is near the 50 EMA: Use EMA 1 and 50 for that. Having it light up on top of the page, or elsewhere, makes it easier to look for the convergence when it occurs. If it lights up for a long period, price may be going sideways. I don't enter into a trade until the EMA starts separating, usually with another candlestick formation.
You are able to change the distance for convergence and two EMA's. Unfortunately you will have to adjust the convergence number up as you increase in time frames. This is designed to see when they are close, not when they cross.
The bars on top of this example are lit up purple due to the 8 and 20 EMA are within' 3 cents of each other.
If you want to overlay the price bars, instead of having it separate, just change overlay to "true"
Enjoy.
While trading, one of the things I look for is when price or certain EMA's approach another EMA. The example that I use on this 1 minute SPY chart is an 8 EMA and 20 EMA. I am looking for when the 8 and 20 are within' 3 cents of each other. Many times when they are getting close, price is approaching a top or bottom. I am looking for a candlestick reversal around that area. You may want to know when PRICE is near the 50 EMA: Use EMA 1 and 50 for that. Having it light up on top of the page, or elsewhere, makes it easier to look for the convergence when it occurs. If it lights up for a long period, price may be going sideways. I don't enter into a trade until the EMA starts separating, usually with another candlestick formation.
You are able to change the distance for convergence and two EMA's. Unfortunately you will have to adjust the convergence number up as you increase in time frames. This is designed to see when they are close, not when they cross.
The bars on top of this example are lit up purple due to the 8 and 20 EMA are within' 3 cents of each other.
If you want to overlay the price bars, instead of having it separate, just change overlay to "true"
Enjoy.
开源脚本
本着真正的TradingView精神，此脚本的作者已将其开源，以便交易者可以理解和验证它。向作者致敬！您可以免费使用它，但在出版物中重复使用此代码受网站规则约束。 您可以收藏它以在图表上使用。
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