samuelhei

Projecting EMAs 2.0

I realise that was unnecessary EMAs (in version 1), so I removed they.

The green zone is the original EMAs and the blank and gray ones are projected EMAs. I'm using this to know good entry points and the exits for scalping.

(work well only for well defined trends).
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study(title="Projecting EMAs", shorttitle="PEMA", overlay=true)


ema2 = ema(close, input(100,"EMA 1"))
ema1 = ema(close, input(200,"EMA 2"))

dif = ema2- ema1


pEma1 = ema2 + dif
pEma2 = ema2 + 2*dif

pEma3 = ema2 + 3*dif
pEma4 = ema2 + 4*dif

ple1 = plot(ema1, title="EMA 1", color=gray)
ple2 = plot(ema2, title="EMA 2", color=gray)

fill(ple1,ple2,color=green,transp=80)

plp1 = plot(pEma1, title="P Ema 1", color=gray)
plp2 = plot(pEma2, title="P Ema 2", color=gray)

plp3 = plot(pEma3, title="P Ema 3", color=gray)
plp4 = plot(pEma4, title="P Ema 4", color=gray)

fill(plp3,plp4,color=black,transp=70)
fill(plp2,plp3,color=black,transp=80)
fill(plp1,plp2,color=black,transp=90)
samuelhei
2 years ago
If you liked this, check out
Relative Projected Ema
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