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)
How would this look in a normal formula? :)
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normanu normanu
@normanu, mmm looking at this script, it actually does nothing with the last 8 bars but drawing the lines.
It only looks when the EMA crosses the last close and at the trend.
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This is awesome i love it! Thanks for sharing!!
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This is awesome! Thanks for sharing!!
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Helpful thanks
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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!
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@tux, Do the signals repaint? I've had that issue with other indicators.Thanks in advance.
+1 Reply
Hi Tony, love this indicator but can't seem to find version 2 anywhere...did it come out? Thanks!
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Tony.. when version 2 is coming..
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