Bjorgum EMA

14 feb 2021

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.

11 mag 2021

Note di rilascio

This update is to change the display picture which housed a depiction of buy and sell recommendations using Heiken Ashi, which is against TradingView house rules. It is important traders understand the nature of synthetic HA values on the chart and be aware of the caveats when applying to real market. Back testing on HA can give unrealistic results and should be understood when using this script to chart with HA candles.

Also newly updated are alert functions to alert up or down crosses. Alerts are dynamic to give reference in the alert message to the timeframe the alert occurred and the closing price at the alert time

Cheers!