OPEN-SOURCE SCRIPT
((Bearish)) Candle Above EMAS
Good Morning from the UK.
Todays script is a simple vieweing of when candles close above a certain moving average - when the market is bearish conditions - candle which close above the moving average can be viewed as a bearish signal along with confluences such as price action. This script is best on the Daily and we can expect big price moves away from this area.
The below example, we have a bearish set up with a break of trendline and then a break of a base which would 1) strong area as price is unlikely to go past this area which would make this a supply zone.
This was then followed by the signal of the candle closing above the 100ema and the 50ema.
The script is likened to my one of my previous scripts which portrays the bullish ema candle closes.
I will be making a price action publish soon if that is of interest to the public.
Todays script is a simple vieweing of when candles close above a certain moving average - when the market is bearish conditions - candle which close above the moving average can be viewed as a bearish signal along with confluences such as price action. This script is best on the Daily and we can expect big price moves away from this area.
The below example, we have a bearish set up with a break of trendline and then a break of a base which would 1) strong area as price is unlikely to go past this area which would make this a supply zone.
This was then followed by the signal of the candle closing above the 100ema and the 50ema.
The script is likened to my one of my previous scripts which portrays the bullish ema candle closes.
I will be making a price action publish soon if that is of interest to the public.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.