Wizard EMA 5.0

Dec 29, 2024

Step-by-Step Guide to Using the Indicator on TradingView
Open TradingView:
Add the Script to the Chart:

After saving, click on the Add to Chart button (it’s right next to the Save button in the Pine Script editor).
This will compile and add the script to your chart.
Customize the Indicator:

Once the script is added to the chart, you can adjust the settings:
Click the settings icon (gear icon) next to the indicator name on your chart to open the input menu.
Adjust EMA lengths: You can check or uncheck the EMAs you want to use (9, 21, 30, 50, 100, 150, 200, 300).
Change Spacing: Adjust the spacing between EMAs.
Choose Colors: Set custom colors for the bars and the circles. You can also toggle the visibility of signals, exit signals, etc.
Observe the Indicator on the Chart:

After customization, the indicator will show the EMAs plotted as horizontal lines at different levels (depending on the EMA length and spacing).
The green bars will show when the EMAs are all in an uptrend.
The red bars will show when all the EMAs are in a downtrend.
White bars will appear when the EMAs are in a neutral state.
Small circles will be plotted on the first unhighlighted bar after a buy or sell signal.
Use the Buy and Sell Signals:

Buy Signals: When all selected EMAs are green (indicating an uptrend), a Buy signal (green arrow) will appear below the bars.
Sell Signals: When all selected EMAs are red (indicating a downtrend), a Sell signal (red arrow) will appear above the bars.
Exit Signals: The first unhighlighted bar after a buy or sell signal will have a small circle for Buy exit, & for Sell exit). You can choose any color for circle
Key Features and How to Interpret Them:
Horizontal EMA Lines: These represent the Exponential Moving Averages (EMAs) plotted as horizontal lines at different levels depending on the chosen timeframes.
Buy/Sell Signals:
Green Buy Signal: When all selected EMAs are in an uptrend (green), a buy signal is generated.
Red Sell Signal: When all selected EMAs are in a downtrend (red), a sell signal is generated.
Bar Color: The bars will be highlighted in green (for an uptrend), red (for a downtrend), or white (for neutral).
Exit Circle: A small circle will appear on the first unhighlighted bar after a buy or sell signal (blue for buy exit, purple for sell exit).
Example Use Case:
Trend Following Strategy: You can use this indicator to follow trends. When the bars are green, it signals an uptrend, and you can look for buy opportunities. When the bars are red, it signals a downtrend, and you can look for sell opportunities.
Exit Strategy: The small exit circles on the first neutral bar White color after a buy or sell signal can serve as a reminder to close your trade.
Customization: Adjust the EMA periods to suit your trading preferences (short-term or long-term trends), and tailor the spacing or colors to fit your personal strategy and style.
This indicator gives a visual cue of trends (using EMAs) and signals based on whether the market is in an uptrend or downtrend. It’s ideal for users who want to trade in alignment with trend-following strategies and prefer a more visual approach to tracking potential buy/sell opportunities and exits.

"Disclaimer: This indicator is intended for educational purposes only and does not constitute financial advice. Trading involves significant risk, and users should perform their own research and consult with a licensed financial advisor before making any trading decisions."

Dec 30, 2024

Release Notes

Step-by-Step Guide to Using the Indicator on TradingView
Open TradingView:
Add the Script to the Chart:

After saving, click on the Add to Chart button (it’s right next to the Save button in the Pine Script editor).
This will compile and add the script to your chart.
Customize the Indicator:

Once the script is added to the chart, you can adjust the settings:
Click the settings icon (gear icon) next to the indicator name on your chart to open the input menu.
Adjust EMA lengths: You can check or uncheck the EMAs you want to use (9, 21, 30, 50, 100, 150, 200, 300).
Change Spacing: Adjust the spacing between EMAs.
Choose Colors: Set custom colors for the bars and the circles. You can also toggle the visibility of signals, exit signals, etc.
Observe the Indicator on the Chart:

After customization, the indicator will show the EMAs plotted as horizontal lines at different levels (depending on the EMA length and spacing).
The green bars will show when the EMAs are all in an uptrend.
The red bars will show when all the EMAs are in a downtrend.
White bars will appear when the EMAs are in a neutral state.
Small circles will be plotted on the first unhighlighted bar after a buy or sell signal.
Use the Buy and Sell Signals:

Buy Signals: When all selected EMAs are green (indicating an uptrend), a Buy signal (green arrow) will appear below the bars.
Sell Signals: When all selected EMAs are red (indicating a downtrend), a Sell signal (red arrow) will appear above the bars.
Exit Signals: The first unhighlighted bar after a buy or sell signal will have a small circle for Buy exit, & for Sell exit). You can choose any color for circle
Key Features and How to Interpret Them:
Horizontal EMA Lines: These represent the Exponential Moving Averages (EMAs) plotted as horizontal lines at different levels depending on the chosen timeframes.
Buy/Sell Signals:
Green Buy Signal: When all selected EMAs are in an uptrend (green), a buy signal is generated.
Red Sell Signal: When all selected EMAs are in a downtrend (red), a sell signal is generated.
Bar Color: The bars will be highlighted in green (for an uptrend), red (for a downtrend), or white (for neutral).
Exit Circle: A small circle will appear on the first unhighlighted bar after a buy or sell signal (blue for buy exit, purple for sell exit).
Example Use Case:
Trend Following Strategy: You can use this indicator to follow trends. When the bars are green, it signals an uptrend, and you can look for buy opportunities. When the bars are red, it signals a downtrend, and you can look for sell opportunities.
Exit Strategy: The small exit circles on the first neutral bar White color after a buy or sell signal can serve as a reminder to close your trade.
Customization: Adjust the EMA periods to suit your trading preferences (short-term or long-term trends), and tailor the spacing or colors to fit your personal strategy and style.
This indicator gives a visual cue of trends (using EMAs) and signals based on whether the market is in an uptrend or downtrend. It’s ideal for users who want to trade in alignment with trend-following strategies and prefer a more visual approach to tracking potential buy/sell opportunities and exits.

"Disclaimer: This indicator is intended for educational purposes only and does not constitute financial advice. Trading involves significant risk, and users should perform their own research and consult with a licensed financial advisor before making any trading decisions."