This script is intended to give you signals when to buy or sell a FOREX pair based on a combination of exponential moving averages combined with the Stochastic indicator.
How Buy Signal is Triggered:
Close Price is above 200 EMA (1 Day timeframe)
Close Price is below the 20 EMA (4 Hour timeframe)
Low Price is above the 50 EMA (1 Day timeframe)
Stochastic is less than/equal to 20 (1 Day timeframe)
How Sell Signal is Triggered:
Close Price is below 200 EMA (1 Day timeframe)
Close Price is above the 20 EMA (4 Hour timeframe)
High Price is below the 50 EMA (1 Day timeframe)
Stochastic is greater than/equal to 80 (1 Day timeframe)
All the settings and timeframes of this indicator are adjustable. You can also set this up to send you alerts when a buy or sell signal is triggered.
NOTE - In this example:
200 EMA (1 Day timeframe) = white line
50 EMA (1 Day timeframe) = yellow line
20 EMA (4 Hour timeframe) = orange line
הערות שחרור
⋅
Added the ability to choose your Alert Frequency. The default is once_per_bar_close.