OPEN-SOURCE SCRIPT
Updated 20 EMA Slope Confirmation
What This Script Does:
- Calculates the current 20 EMA.
- Computes the average of the previous 20 EMAs, excluding today.
- Flags when today’s EMA is greater than the average → bullish slope.
- Highlights the chart background and adds a triangle for visual cue.
- Calculates the current 20 EMA.
- Computes the average of the previous 20 EMAs, excluding today.
- Flags when today’s EMA is greater than the average → bullish slope.
- Highlights the chart background and adds a triangle for visual cue.
Release Notes
What This Script Does:- Calculates the current 20 EMA.
- Computes the average of the previous 20 EMAs, excluding today.
- Flags when today’s EMA is greater than the average → bullish slope.
- Highlights the chart background and adds a triangle for visual cue.
- 50 EMA and 200 EMA plotted for trend confirmation.
- Entry signal only shown when:
- Current 20 EMA > average of previous 20 EMAs.
- Price is above both 50 EMA and 200 EMA.
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.
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.
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.