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
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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Want to use this script on a chart?
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)