This script is based on Guppy method (guppytraders.com/gup329.shtml ) , it was introduced to me by fellow trader @nmike. I am using this script in conjunction to Clones ,Harmonic and other tools.
Script Function: a. Script plots the fast and slow Exponential moving averages as ribbons. EMA's used EMA (close): 25,30,35,40,45,50,55 (Green) EMA (close): 89,99,109,119,129,139,149 (Red) b. It draws the Circle dots in Pink for Sell and Black for Buy.
Script Parameters: a. EMA : 2 emas for cross b. Signal Exponential moving average c. which time frame to Plot the above Signal Exponential d. Show Guppy Slow - Red - Toggle to show red emas on chart e. Show Guppy Fast - Green- Toggle to show green emas on chart
How to Trade: a. Wait for the Pink/Black Dot to appear on Chart b. Do not take trade immediately after the dot appears. Wait for the price to retrace back and touch the ema ribbons.This will keep you away from fake breakouts. c. Rentries : in examples below