JustUncleL

Flying Buddha Inside Bars Indicator v1 by JustUncleL

Description:
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This indicator plots MAs and paints Triggered Alert Arrows base on Flying Buddha candle patterns.

The “Flying Buddha” Pattern is defined as:
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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”).

Alert Trigger:
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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.

Moving Averages:
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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:

JustUncleL
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

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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