Altcoin Spring
// ============================== ABOUT THIS SCRIPT ==================================
// By @paul108. Based on original idea about EMAs from @MuroCrypto.
// This script tries to time when altcoins might be about to pump after hitting big lows.
// It aims for a higher winrate rather than being definitive.
// It's not for timing entries on your favourite coin. It's for flipping coins that you don't care about.
// It doesn't give exits. Use support/resistance levels. Make sure to take profit.
// It was tested by eye in May 2019.
// It's for 4H on Binance alts in bullish conditions, and may not work very well in any other conditions.
//
// Circles: green means a significant move (of price crossing the slow EMA) up, red, down.
// A green circle indicates a market entry on the next candle with a stop at the medium EMA.
// A grey circle indicates an entry that matched the primary EMA conditions but not secondary tests.
// It's less likely to work out, but who knows.
// Vertical bars: An additional optional indicator: classic 8,21 EMA cross; green up, red down.
// Stop loss: A horizontal line indicates a potential place to put your stop.
// Use recent lows, support, and common sense here, especially with low-sat coins
//
// Use the indicator with confluence of your favourite technical indicators, patterns, and volume.
// If you lose money, it's on you. If you make money, be cool and pay something forward.
// ====================================================================================
// By @paul108. Based on original idea about EMAs from @MuroCrypto.
// This script tries to time when altcoins might be about to pump after hitting big lows.
// It aims for a higher winrate rather than being definitive.
// It's not for timing entries on your favourite coin. It's for flipping coins that you don't care about.
// It doesn't give exits. Use support/resistance levels. Make sure to take profit.
// It was tested by eye in May 2019.
// It's for 4H on Binance alts in bullish conditions, and may not work very well in any other conditions.
//
// Circles: green means a significant move (of price crossing the slow EMA) up, red, down.
// A green circle indicates a market entry on the next candle with a stop at the medium EMA.
// A grey circle indicates an entry that matched the primary EMA conditions but not secondary tests.
// It's less likely to work out, but who knows.
// Vertical bars: An additional optional indicator: classic 8,21 EMA cross; green up, red down.
// Stop loss: A horizontal line indicates a potential place to put your stop.
// Use recent lows, support, and common sense here, especially with low-sat coins
//
// Use the indicator with confluence of your favourite technical indicators, patterns, and volume.
// If you lose money, it's on you. If you make money, be cool and pay something forward.
// ====================================================================================
Release Notes:
Added crosses of the fast EMA over the slow EMA.
Made everything display by default. You can turn things off in Settings.
Updated default HMA and source settings to be smoother.
Made everything display by default. You can turn things off in Settings.
Updated default HMA and source settings to be smoother.
Release Notes:
Fixed the fast and slow EMA crosses. They're now arrows.
Release Notes:
Updated the script description.
Confirmation plots are now diamonds instead of arrows for better visibility.
You can now set alerts on the long conditions.
Confirmation plots are now diamonds instead of arrows for better visibility.
You can now set alerts on the long conditions.
Release Notes:
Updated to Pinescript Version 4. A few tweaks to the default visibility.
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