Bjorgum

Bjorgum EMA

This is an answer back to repeated requests for a simple version of Bjorgum Triple EMA Strat, which is not recommended for use with Heiken Ashi candles as it results in "double smoothing" of the averages and can give late signals as a result.

The inputs are raw and super basic. At its core its really just 3 EMAs that you can customize the source and length. The averages and shadowing change color based on if they are either rising or falling.

default values are 5, 9, and 21 EMA on open as source.

Bar color is dictated by the bar close over or under the 5 and 9 EMA .

This is suitable for use on HA candle.
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.

Want to use this script on a chart?

Comments

The works of a wonderful master in action.
+1 Reply
Bjorgum taurus55
@taurus55, Nicely done! Tip: go to settings and turn off candle borders and change wicks to a neutral color like grey for better visual appeal
+1 Reply
taurus55 Bjorgum
@Bjorgum, Thank you very much!
Reply
Great Indicator! Thank You For Sharing!
Reply
I really like this. I use a 8/21 EMA cross strategy for scalping options and want to give this a try. What time frame do you recommend for this? thanks!
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Also if i may ask why is SRCFAST set to OPEN and NOT CLOSE?
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Hi

You say in the first line that this is NOT to be used with HA candles but then in your last line you say ..... "This is suitable for use on HA candle"

So which candles must we use?
Reply
Bjorgum GarethSA
@GarethSA, It says this script is an alternate which IS suitable for HA, whereas my other EMA script is smoothed with HA inputs. Use it on which ever you like as its just an EMA. Source open is personal preference, but since its an input that can be changed in the settings menu, you can set it to your personal preference.
Reply
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