dotradingwithtrend

POWER OF STOCK'S 5 EMA BUY / SELL

Indicator is based mainly on two conditions :

1. Previous candle should not touch 5 EMA.
2. Current candle should close “ABOVE/BELOW” 5 EMA.

Features -
* Buy candle is represented by Aqua Color
* Sell candle is represented by Fuchsia Color
* You can set Risk: Reward ratio. ( Default = 1:2)
* It also shows label for Entry, Stop Loss & Target.
* Suggested timeframe 15 Minutes for intraday.
* Use closing basis Stop loss.
Release Notes:
Added option to check previous signals, which will help to back test.
Untick "Delete Previous Buy/Sell Signals" from settings to see all previous signals.
Release Notes:
Code added for alert candle trade.
Release Notes:
Bar color & Label color are editable now. ( Both will have same color)
Release Notes:
Buy Sell signal only generated when alert candle high/low breaks.
Release Notes:
Small change.
Release Notes:
Buy Sell mark below/above candle.
Bar color only for high/low breaching candle.
Release Notes:
Color Bug Fix.
Release Notes:
What's new ---
Now we will have 3 options to trade with this script.
1) 5EMA + BB Strategy
2) 5 EMA Buy/Sell(Trade With 5 EMA Reversal Confirmation)
3) Alert Candle Buy/Sell (Trade Without Reversal Confirmation)

Updates --
A) 5EMA + BB Strategy
- When we combine "5EMA + BB", It will eliminate many false signals. Which will improve our accuracy while trading.
- In BB value of standard deviation is set to 1.5
B) Option provided to unable/disable bar color for entry candle.
Release Notes:
Small Bug Fix.
Release Notes:
Calculation error updated.
Protected script
This script is published closed-source but you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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