Pivot points w/ 4EMA's,VWAP,HA Overlay & CrossoverWith this script you get 5 indicators added to your chart, the list of indicators are as follow:
1- Pivot Points with mids (from R5 to S5 levels)
2- Vwap with option to choose source. Some traders prefer HLC3 while others prefer OHLC4
3- 4 Exponential Moving Averages. Option to choose your length, color and timeframe.
4- Exponential Moving Average cross signal. Used with the first two exponential moving averages selected. Can also be opted out if not wanted.
5- Heiken Ashi Candle Overlay.
Pivot Points with mids is an indicator widely used within the trading community, it provides support and resistance levels for the day. While the VWAP is also popular within the trading world, it gives you a visual representation of if we are trending down/up for the day. The Exponential Moving Averages is also another indicator that is widely known in the market. it can also serve as support/resistance and trend. The crossover aspect of this script is to signal when the first two moving averages cross each other to alert you of a possible counter trend beginning. As for the Heiken Ashi candles it used by most traders who have a hard time seeing/understanding the regular candle stick chart, with Heiken Ashi it is easier to spot trend changes.
When looking at the chart with all indicators displaying from this script it gives a better understanding of the moves the market has made and the probabilities as for the targets, the more confluence you have the better decision you can make as trader for self improvement. Each trader views and trades the market differently, The more we share the more we can help other traders learn and self imropve.
4emas
SpiceIn the chart photo is a description for each shape and letter, saying what each one is.
BB, Reversals are off by default.
BB + Reversals + Next bar confirmation - The way this should be used is by waiting for a 1 or 2 bar confirmation closed above/below the high/low of the Reversal candle. So if its a Top R, a yellow box will print as a confirmed 1 bar if it closed below the top R's low, then you can wait for the second bar to close also below the Top R's low. Vice versa with the Bot R.
RSI arrows - Essentially showing you when the multi time frame RSIs are coming back up above 30, or below 70. Respective to what time frames you have selected.
Three Line Strike - A trend continuation candlestick pattern consisting of four candles
Leledc Exhaustion suggest the trend may be reversing. Combined with the moving average as a trend filter, the indicator can signal the end of a pull back and the continuation of the trend.
EMAs - Help measuring the trend direction over a period of time.
Credit to all these amazing creators -
Multi Timeframe RSI (LTF) by @millerrh
3 Line Strike by @Lij_MC 'MarketVision A'
Leledc Exhaustion by @glaz, used updated version by @Joy_Bangla
If anyone uses the BB reversals source code to put into their own indicator/strategy, you are free to do so. Just send me a message I'd love to see your work with it! :)
Thanks to Lij_MC's MarketVision A indicator for inspiring me to add more features. At first it was just the RSI Arrows and the BB reversals candles + Condition but then I found MarketVision A and loved the extra Leledc and 3 Line Strike features.
Hope you enjoy this Spice!
No Signal is 100% correct at what it's trying to do. Use caution when trading!
Practice Risk Management.
