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
Remove from Favorite Scripts Add to Favorite Scripts
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)
tux
a year ago
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.
Reply
mosoeu88 tux
a year ago
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
ChartArt
a year ago
Simple but powerful idea. I really like it!
Reply
huezofr
a year ago
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.
Reply
VishalDesai
9 months ago
Tony.. when version 2 is coming..
Reply
VishalDesai
9 months ago
Tony.. when version 2 is coming..
Reply
juleco8
a month ago
Hi Tony, love this indicator but can't seem to find version 2 anywhere...did it come out? Thanks!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out