Summary: Based on the script by Chris Moody. Using HLC3 candles and a default of 50EMA, changes candle colours to determine buy or sell signals.
How it works: - When the candle closes above the 50EMA, the candle will turn green, open a long (close a short). - When the candle closes below the 50EMA, the candle will turn red, open a short (close a long).
Quite a conservative strategy, not for day trading. Comes into it's own in trending markets as long as you stick to the signals. Is definitely not for knife catching.
Trade with momentum and set take profits.
I've used it with success on 1D and 4H timeframes.
Use the green and red crossover lines to set alerts when the candle closes (can be automated pretty easily with AutoView).