tux

TonyUX EMA Scalper - Buy / Sell

This is a simple scalping strategy that works for all time frames... I have only tested it on FOREX

It works by checking if the price is currently in an uptrend and if it crosses the 20 EMA .

If it crosses the 20 EMA and its in and uptrend it will post a BUY SIGNAL.
If it crosses the 20 EMA and its in and down it will post a SELL SIGNAL.

The red line is the highest close of the previous 8 bars --- This is resistance
The green line is the lowest close of the previous 8 bars -- This is support
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study(title="Tony's EMA Scalper - Buy / Sell", shorttitle="TUX EMA Scalper", overlay=true)
len = input(20, minval=1, title="Length")
src = input(close, title="Source")
out = ema(src, len)
plot(out, title="EMA", color=blue)
last8h = highest(close, 8)
lastl8 = lowest(close, 8)

plot(last8h, color=red, linewidth=2)
plot(lastl8, color=green, linewidth=2)


bearish = cross(close,out) == 1 and close[1] > close 
bullish = cross(close,out) == 1 and close[1] < close 

plotshape(bearish, color=red, style=shape.arrowdown, text="Sell", location=location.abovebar)
plotshape(bullish, color=green, style=shape.arrowup, text="Buy", location=location.belowbar)
Thank you all for the support on this script! I have been testing it with other indicators and code improvements and I believe I found a great combo.

Will be posting version 2 soon.
+1 Reply
Awesome stuff. I am looking forward to version 2 as this has given great signals for me in combination with the Parabolic SAR indicator. Thanks for sharing.
Reply
Simple but powerful idea. I really like it!
Reply
Hello, I find this script very useful. What would be the correct alert configuration to alert me when there is a Buy or Sell signal? For the life of me I can't get it right.
+2 Reply
Tony.. when version 2 is coming..
Reply
Tony.. when version 2 is coming..
Reply
Hi Tony, love this indicator but can't seem to find version 2 anywhere...did it come out? Thanks!
Reply
Hey everyone, I'm truly amazed by how many likes this has revived.

I'll be providing new scripts over the next few weeks.

Thanks again!
Reply
@tux, Do the signals repaint? I've had that issue with other indicators.Thanks in advance.
Reply
Helpful thanks
Reply
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