OPEN-SOURCE SCRIPT

Pip collector [LazyBear]

A simple but effective Forex strategy requested by user @pipcollector.

Suggested chart timeframe is 5mins.

Indicator marks potential long/short entries based on the following conditions:

LONG
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Price above pip median ema on daily, 4 hour and 1 hour timeframe. These 3 timeframes and median EMA lengths are configurable.
Background color is set to GREEN (if option is enabled).
As soon as price touches or crosses the median ema, a GREEN arrow is shown to mark potential long.

SHORT
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Price below pip median ema on daily, 4 hour and 1 hour timeframe. These 3 timeframes and median EMA lengths are configurable.
Background color is set to RED (if option is enabled).
As soon as price touches or crosses the median ema, a RED arrow is shown to mark potential short.

NO SETUP
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Moving averages do not align on the 3 timeframes.
Background color is set to GRAY (if option is enabled)

I have noticed that this works well on other instruments too (anything trending), also on higher time frames. Feel free to leave any questions/comments on this below.

List of my public indicators: bit.ly/1LQaPK8
List of my app-store indicators: blog.tradingview.com/?p=970