4-EMA Trend

This indicator can be used to visualize when price is above or below special exponential moving averages (8, 21, 50 and 200) that are also displayed on the chart. A green or red background is plotted then, that can be followed as a trend. You can define the amount of risk (e.g. in $) and the number of previous bars that will be used to calculate the stop loss. For the stop loss a label is shown (long or short) that displays the quantity to buy or sell for your defined risk. It is recommend to use the indicator in combination with my Stochastic & RSI (see chart) to enter trades long or short when stochastic is overbought or oversold and RSI above or below 50.

US100

Release Notes:

Update trend indication: ema8 has to be above / below slower ema

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EMA description and length adjusted

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Show stop loss buy or sell depending price above or below slowest EMA

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SMA 40 added as special pullback indicator

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Added alerts for long or short trend change

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Add MTF support for slow EMAs

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SMA replaced by EMA for trend detection

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Length of EMAs can be set

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MTF EMA not displayed by default, 20, 50, 200 ema default length

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ATR Stop added as dots (bullish, bearish)

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Input option for ema fast and middle length

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EMA Ribbon added with option to hide it

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Alert when price is close to trend EMA (default 200 EMA)

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Performance improved, ema ribbon removed

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TEMA for trend included

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TEMA with custom length, pine version 5

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Refactoring and 4th ema added

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ATR stoploss multiplier added

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Added real price display for Heikin Ashi chart type

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Labels for engulfing candles added

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Engulfing pattern bug fixed

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Barcolor for engulfing added

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Engulging candles added and atr to 10

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Volatility Stop Length added

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Inside bar added as candlestick pattern

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Inside bar without color