This indicator plots MAs and paints Triggered Alert Arrows base on Flying Buddha candle patterns.
The “Flying Buddha” Pattern is defined as:
A candlestick chart with two moving averages: the 5 period exponential moving average (fast EMA) and the 10 period simple moving average (slow SMA), both applied to the closing price. The default “Flying Buddha” pattern is any candlestick which:
- 1. Has a LOW above the fast EMA, when the fast EMA is above the slow SMA (a bearish “Flying Buddha”); or
- 2. Has a HIGH below the fast EMA, when the fast EMA is below the slow SMA (a bullish “Flying Buddha”).
A Flying Buddha Alert is triggered on the first candle that is a non-flying Buddha candle after a Flying Buddha Pattern candle sequence. Flying Buddhas can optionally be filtered by InsideBars and PinBars.
The Alert Trigger is optionally filtered by the Directional MA (default=EMA 89), and/or by Minimum Sequence length of Flying Buddhas.
You can select between 11 different types of moving averages, for each MA line in Flying Buddha MAs (fastMA and slowMA) and the Directional Filter MA:
- SMA = Simple Moving Average.
- EMA = Exponential Moving Average.
- WMA = Weighted Moving Average
- VWMA = Volume Weighted Moving Average
- SMMA = Smoothed Simple Moving Average.
- DEMA = Double Exponential Moving Average
- TEMA = Triple Exponential Moving Average.
- HullMA = Hull Moving Average
- SSMA = Ehlers Super Smoother Moving average
- ZEMA = Near Zero Lag Exponential Moving Average.
- TMA = Triangular (smoothed) Simple Moving Average.
NOTE: This is a concept indicator, I also intend to release a trading BOT suitable for Autoview, based on this concept indicator.
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.