This is a rework of one of Chris Moody's scripts, but made useful for binary options trading. The color of the indicator is the direction of the trade you should take immediately after the bar closes. This is ideal for 5 minute charts. Overlays are based on crossovers. This is dead simple - green overlay = CALL, red overlay = PUT.
// Created By User ChrisMoody // Modified By User TimJaeger // This Indicator plots crossovers of the Medium EMA // Ideal for use on 5 minute chart - color indicates action you should take for the next interval (e.g. green overlay = CALL with 5 minute expiry time) // If next candlestick is not in the direction of the overlay (e.g. the next 5 minute candle isn't green) // you can either martingale the next trade or stop and wait for the next red or green overlay study(title = "Medium EMA Cross for Binary Options", shorttitle="Medium EMA Cross for Binary Options", overlay=true) src = close, len = input(8, minval=1, title="Fast EMA") src2 = close, len2 = input(21, minval=1, title="Medium EMA") src3 = close, len3 = input(34, minval=1, title="Slow EMA") isUp() => close > open isDown() => close < open emaFast = ema(src, len) emaMedium = ema(src2, len2) emaSlow = ema(src3, len3) bgcolor(close > emaMedium and emaFast < emaMedium and isUp() and (emaFast < emaMedium and emaMedium < emaSlow) ? red : na, transp = 70) bgcolor(close < emaMedium and emaFast > emaMedium and isDown() and (emaFast >= emaMedium and emaMedium >= emaSlow) ? green : na, transp = 70)
Watch this video https://www.youtube.com/watch?v=3j7jK9jlmRU its spanish but you can catch the idea is ganhilo indicator and moving average period 3 exponential close or download the strategy for metatrader here https://sites.google.com/site/34658marca/marca/Estrategia%2520Mosca.rar?attredirects=0 build it on tradingview because price movement is first than brokers so we can make it easy.