Candlestick Pattern DetectorDetects popular candlestick patterns:
Hammer (Bullish Reversal)
Shooting Star (Bearish Reversal)
Bullish Engulfing (Strong Buy Signal)
Bearish Engulfing (Strong Sell Signal)
Doji (Indecision/Trend Reversal)
✅ Overlay on price chart (labels appear where patterns are detected)
✅ Compatible with any time frame
✅ Optimized for Pine Script v6
Pattern grafici
EMA - 20, 50, 150, 200Exponential Moving Average (EMA) Indicator
An Exponential Moving Average (EMA) indicator that reacts faster to price changes, helping traders identify trends and generate signals. Suitable for stocks, forex, crypto, and more. 🚀
Sweep DetectorThe Sweep Detector identifies liquidity sweeps by detecting when a swing high or low is broken only by the wick of a candle, ensuring the body does not close beyond the level. It highlights these sweep points with markers and draws a line from the broken level to the candle that triggered the sweep. This helps traders spot potential reversals and liquidity grabs in the market.
EMA 5 Alert Candle ShortThe 5 EMA (Exponential Moving Average) Strategy is a simple yet effective trading strategy that helps traders identify short-term trends and potential entry and exit points. This strategy is widely used in intraday and swing trading, particularly in forex, stocks, and crypto markets.
Components of the 5 EMA Strategy
5 EMA: A fast-moving average that reacts quickly to price movements.
15-minute or 1-hour timeframe (commonly used, but adaptable to other timeframes).
Candlestick Patterns: To confirm entry signals.
How the 5 EMA Strategy Works
Buy (Long) Setup:
Price Above the 5 EMA: The price should be trading above the 5 EMA.
Pullback to the 5 EMA: A minor retracement or consolidation near the 5 EMA.
Bullish Candlestick Confirmation: A bullish candle (e.g., engulfing or pin bar) forms near the 5 EMA.
Entry: Enter a long trade at the close of the bullish candle.
Stop Loss: Place below the recent swing low or 5-10 pips below the 5 EMA.
Take Profit: Aim for a risk-reward ratio of at least 1:2 or trail the stop using a higher EMA (e.g., 10 or 20 EMA).
Sell (Short) Setup:
Price Below the 5 EMA: The price should be trading below the 5 EMA.
Pullback to the 5 EMA: A small retracement towards the 5 EMA.
Bearish Candlestick Confirmation: A bearish candle (e.g., engulfing or pin bar) near the 5 EMA.
Entry: Enter a short trade at the close of the bearish candle.
Stop Loss: Place above the recent swing high or 5-10 pips above the 5 EMA.
Take Profit: Aim for a 1:2 risk-reward ratio or use a trailing stop.
Additional Filters for Better Accuracy
Higher Timeframe Confirmation: Check the trend on a higher timeframe (e.g., 1-hour or 4-hour).
Volume Confirmation: Enter trades when volume is increasing.
Avoid Sideways Market: Use the strategy only when the market is trending.
Advantages of the 5 EMA Strategy
✔️ Simple and easy to use.
✔️ Works well in trending markets.
✔️ Helps traders capture short-term momentum.
Disadvantages
❌ Less effective in choppy or sideways markets.
❌ Requires discipline in following stop-loss rules.
Dollar Difference (High-Low)This script shows the difference between the High and Low - indicating the complete range of movement of each candle, in all time frames. This enables you to get a birds eye view of the movement without having to see the values on the Chart top for each candle mouseover.
Bauhaus Reversal MasterWelcome to the Bauhaus Reversal Master!
A Pine Script (v6) creation for TradingView that detects market reversals using classic candlestick patterns. Think of yourself as a chart detective—this script does the heavy lifting by spotting signals, labeling them, and running an automated trading strategy with built-in risk management.
🔍 What Does This Script Do?
Identifies Candlestick Patterns: Recognizes formations like Hammer Time, Falling Star, Bullish Munch, and more.
Confirms the Trend: Uses stochastic to ensure patterns appear in extreme zones (overbought/oversold), increasing reliability.
Automates Trading: Places buy/sell orders with predefined risk parameters.
Labels the Chart: Displays clear tags (e.g., "HAM" or "STAR") for instant visualization.
Manages Risk: Calculates risk and reward based on market volatility (ATR-based).
It’s like having a trading assistant with precision and style! 🎯
🛠 How It Works: Step by Step
1️⃣ Setup (Control Panel)
Capital Allocation: Bets 10% per trade (adjustable).
Commission: Default 0.1% per trade (modifiable for your broker).
Custom Options:
ATR Period: Measures volatility (default 14 bars).
Profit & Loss: Multipliers for Take Profit (1.5x ATR) & Stop Loss (1x ATR).
Trend Lookback: Number of candles analyzed (default 14).
Reversal Threshold: Overbought/Oversold levels (default 80).
Smoothing Factor: Helps reduce noise (default 20).
2️⃣ Candlestick Patterns (The Stars of the Show)
📈 Bullish Patterns (Buy Signals)
Hammer Time: Long lower wick in a downtrend.
Inverted Hammer: Long upper wick in a downtrend.
Bullish Munch: A big green candle swallowing a red one.
Tweezer Bottom: Two candles with identical lows, one red, one green.
📉 Bearish Patterns (Sell Signals)
Hanging Man: A hammer-like candle but in an uptrend.
Falling Star: Long upper wick in an uptrend.
Bearish Gobble: A big red candle engulfing a green one.
Tweezer Top: Two candles with identical highs, one green, one red.
✅ Each pattern can be toggled ON/OFF.
3️⃣ Trend Confirmation (The Filter)
Uses stochastic (kTrend) to detect extreme market conditions:
Overbought (>80) → Bearish Zone
Oversold (<20) → Bullish Zone
Averages it (smoothK) to filter out false signals.
Buys only in bearish zones, sells only in bullish zones.
4️⃣ Candlestick Math (For Nerds 🤓)
Breaks each candle into:
Body
Upper Wick
Lower Wick
Measures proportions of each to detect valid patterns.
5️⃣ Risk & Reward (Your Money’s Bodyguard)
Uses ATR (atrVal) to set dynamic profit & loss levels:
Buy Trade:
Take Profit = Price + (ATR × 1.5)
Stop Loss = Price - (ATR × 1)
Sell Trade:
Take Profit = Price - (ATR × 1.5)
Stop Loss = Price + (ATR × 1)
Ensures a Risk/Reward Ratio favoring larger wins over losses.
6️⃣ Execution (Let’s Trade!)
Spots a bullish pattern? Places a Buy Order (GoLong).
Detects a bearish pattern? Places a Sell Order (GoShort).
Exits automatically at Take Profit or Stop Loss.
7️⃣ Chart Labels (Visual Cues)
Displays clear signals:
Bullish: "HAM" (hammer), "INV" (inverted hammer), "BULL" (bullish engulfing), "TWZB" (tweezer bottom) → Green Labels
Bearish: "STAR" (shooting star), "HANG" (hanging man), "BEAR" (bearish engulfing), "TWZT" (tweezer top) → Red Labels
📊 Why Use This Script?
✅ Automated Trading – Execute trades on TradingView effortlessly.✅ Visual Insights – Labels help identify patterns instantly.✅ Backtesting – Simulate past performance (e.g., starting with $10,000).✅ Customizable – Modify settings for risk, market type (stocks, forex, crypto), and strategy.
💡 Pro Tips for Users
Test Before Trading – Run TradingView’s backtest to evaluate performance.
Adjust Risk Settings – Increase Stop Loss or lower Take Profit in volatile markets.
Choose the Right Timeframe – Works best on H1 (1-hour) and H4 (4-hour) charts.
Match Commissions – Set the commission rate to match your broker’s fees.
Use Additional Analysis – Patterns aren’t 100% reliable; combine this with your own insights.
Enhanced Zigzag [victhoreb] (V2)** This is the updated version of my pre-existing Zigzag indicator **
Enhanced Zigzag is an optimized version of the classic zigzag indicator, crafted using 50 lines of Pine Script code compared to TradingView’s native version which exceeds 300 lines. Its compact logic efficiently detects pivot highs and lows using customizable lookback periods, then dynamically connects these key points with clear, color-adjustable zigzag lines. With options to toggle the zigzag display and enable repainting, this indicator offers both performance and flexibility—providing traders with a streamlined tool for identifying market swings and potential reversals with minimal code complexity.
FVG Breakout Lite by tradingbauhausExplanation of "FVG Breakout Lite by tradingbauhaus"
This script is a trading strategy built for TradingView that helps you spot and trade "Fair Value Gaps" (FVGs)—price areas where the market moved quickly, leaving a gap that might act as support or resistance later. It’s designed to catch breakout opportunities when the price moves strongly in one direction, with extra filters to make trades more reliable. Here’s how it works and how you can use it:
What It Does
1. Finds Fair Value Gaps (FVGs):
A "Bullish FVG" happens when the price jumps up quickly, leaving a gap below where it didn’t trade much (e.g., today’s low is higher than the high from two bars ago).
A "Bearish FVG" is the opposite: the price drops fast, leaving a gap above (e.g., today’s high is lower than the low from two bars ago).
The script draws colored boxes on your chart to show these gaps: green for bullish, red for bearish.
2. Spots Breakouts:
It looks for "strong" FVGs by comparing them to a trend (based on the highest highs and lowest lows over a set period).
If a bullish gap forms above the recent highs, or a bearish gap below the recent lows, it’s marked as a breakout opportunity.
3. Adds a Volume Check:
Trades only happen if the market’s volume is higher than usual (e.g., 1.2x the average volume over the last 20 bars). This helps ensure the breakout has real momentum behind it.
4. Trades Automatically:
Long Trades (Buy): If a bullish breakout FVG forms and volume is high, it buys at the current price.
Short Trades (Sell): If a bearish breakout FVG forms with high volume, it sells short.
Each trade comes with a stop loss (to limit losses) and a take profit (to lock in gains), both adjustable by you.
5. Shows Mitigation Lines (Optional):
If you turn on "Display Mitigation Zones," it draws lines at the edge of each breakout FVG. These lines show where the price might return to "fill" the gap later, helping you see key levels.
6. Includes Webull Costs:
The script factors in real trading fees from Webull, like tiny SEC and FINRA fees for selling, and a daily margin cost if you’re borrowing money to trade. These don’t show up on the chart but affect the strategy’s performance in backtesting.
How to Use It
1. Add to Your Chart:
Copy the script into TradingView’s Pine Editor, click "Add to Chart," and it’ll start drawing FVGs and running the strategy.
2. Customize Settings:
Trend Period (Default: 25): How many bars it looks back to define the trend. Longer periods mean fewer but stronger signals.
Volume Lookback (Default: 20) & Volume Threshold (Default: 1.2): Adjust how it measures "high volume." Increase the threshold for stricter trades.
Stop Loss % (Default: 1.5%) & Take Profit % (Default: 3%): Set how much you’re willing to lose or aim to gain per trade.
Margin Rate % (Default: 8.74%): Webull’s rate for borrowing money—lower it if your account qualifies for a better rate.
Display Mitigation Zones (Default: On): Toggle this to see or hide the gap lines.
Colors: Change the green (bullish) and red (bearish) shades to suit your chart.
3. Backtest It:
Go to the "Strategy Tester" tab in TradingView to see how it performs on past data. It’ll show trades, profits, losses, and Webull fees included.
4. Watch It Work:
Green boxes mean bullish FVGs; red boxes mean bearish FVGs. If volume spikes and the price breaks out, you’ll see trades happen automatically.
What to Expect
Visuals: You’ll see colored boxes for FVGs and optional lines showing where they start. These help you spot key price zones even if you’re not trading.
Trades: It’s selective—only trades when FVGs align with a breakout and volume confirms it. Expect fewer trades but with higher potential.
Risk: The stop loss keeps losses in check, while the take profit aims for a 2:1 reward-to-risk ratio by default (3% gain vs. 1.5% loss).
Costs: Webull’s fees are small but baked into the results, so you’re seeing a realistic picture of profits.
Tips for Users
Test it on a small timeframe (like 5-minute charts) for day trading or a larger one (like daily) for swing trading.
Play with the volume threshold—if you get too few trades, lower it (e.g., 1.1); if too many, raise it (e.g., 1.5).
Watch how price reacts to the mitigation lines—they’re often support or resistance zones traders target.
This strategy is lightweight, focused, and built for traders who like breakouts with a bit of confirmation. It’s not foolproof (no strategy is!), but it gives you a clear way to trade FVGs with some smart filters.
PAULS DOG HOUSEThe **3 EMA (Exponential Moving Average) Smooth Moving Average** is a technical indicator used in trading to identify trends and potential market reversals with greater accuracy. Unlike a simple moving average (SMA), the **Exponential Moving Average (EMA)** gives more weight to recent price data, making it more responsive to current market conditions. A **3 EMA smooth moving average** applies three EMAs in succession, further refining the signal by reducing noise and smoothing out fluctuations. This method helps traders recognize short-term price movements while filtering out false signals, making it a valuable tool for identifying trends in volatile markets. It is commonly used in forex, stocks, and cryptocurrency trading to enhance decision-making and improve entry and exit strategies.
T5-T55 Price Pulse ConfluenceThis script combines multiple technical indicators and price action analysis to generate clear and actionable buy and sell signals, offering a balanced approach to identifying trading opportunities. The inclusion of dynamic stop-loss, take-profit, and 20% profit targets allows for effective risk management while maximizing profit potential.
Short Screener: Declining EPSWhat This Script Does
🔹 Screens for Shorting Opportunities
🔹 Checks if EPS is declining (Current < Next Year)
🔹 Confirms Downtrend (Price < SMA 200)
🔹 Uses RSI & MACD for Bearish Signals
🔹 Checks Debt-to-Equity (> 1.5)
Enhanced Zigzag [victhoreb]Enhanced Zigzag is an optimized version of the classic zigzag indicator, crafted using 50 lines of Pine Script code compared to TradingView’s native version which exceeds 300 lines. Its compact logic efficiently detects pivot highs and lows using customizable lookback periods, then dynamically connects these key points with clear, color-adjustable zigzag lines. With options to toggle the zigzag display and enable repainting, this indicator offers both performance and flexibility—providing traders with a streamlined tool for identifying market swings and potential reversals with minimal code complexity.
Enhanced X1 Algo for Spot Trading with RSI, ATR, and MACDThe Enhanced X1 Algo is a versatile trading indicator for spot trading, integrating SMA, ROC, RSI, ATR, and MACD for robust buy and sell signals. It dynamically displays only the most recent trigger set, with clear entry, target, and stop levels. Ideal for various trading styles, this indicator provides real-time alerts and comprehensive market analysis, enhancing your trading strategy.
RSI Trend Bias█ OVERVIEW
The RSI Trend Bias indicator is a custom technical analysis tool that utilizes the Relative Strength Index (RSI) to gauge market momentum and identify potential trend shifts. By monitoring RSI crossovers and crossunders relative to customizable threshold levels, the indicator provides clear visual cues that distinguish between bullish and bearish market conditions. This flexible approach makes it suitable for both short-term scalping and longer-term trend analysis.
█ KEY FEATURES
Dynamic RSI Trend Detection
The indicator dynamically determines market bias by monitoring the RSI for crossovers above the upper threshold and crossunders below the lower threshold. This method ensures that only significant momentum shifts trigger a change in trend, reducing false signals in volatile markets.
Adaptive Visualizations
The RSI Trend Bias indicator enhances clarity by plotting the RSI with colors that reflect current market conditions. Additionally, it offers an optional background color change to further emphasize bullish or bearish states, providing immediate visual feedback to traders.
Clear Threshold Indicators
Upper and lower threshold levels are plotted as constant reference lines, clearly delineating overbought and oversold regions. These markers help traders quickly assess market conditions at a glance.
Customizable Settings
Users have full control over key parameters including the RSI length, threshold levels, and visual settings. This customization allows the indicator to be tailored for different markets and trading styles, ensuring optimal performance across various timeframes.
█ UNDERLYING METHODOLOGY & CALCULATIONS
RSI Calculation
The indicator computes the Relative Strength Index over a user-defined period (default is 14), providing a measure of market momentum that reflects price changes over time.
Trend Determination Logic
By detecting when the RSI crosses above the upper threshold, the indicator signals a shift towards bullish momentum. Conversely, a crossunder below the lower threshold indicates bearish conditions. This straightforward binary approach filters out minor fluctuations, ensuring clarity in trend analysis.
Visual Signal Integration
Based on the detected trend, the RSI line is dynamically colored—green for bullish conditions and red for bearish conditions. An optional background color change further reinforces these signals, offering an immediate visual cue of prevailing market sentiment.
█ HOW TO USE THE INDICATOR
1 — Apply the Indicator
• Add the RSI Trend Bias indicator to a separate pane in your trading platform.
2 — Adjust Settings for Your Market
• RSI Length – Define the period for RSI calculation (default is 14).
• Threshold Levels – Set the upper (default 70) and lower (default 30) thresholds to identify overbought and oversold conditions.
• Visual Customization – Choose the bullish (green) and bearish (red) colors, and enable background color changes to enhance visual trend recognition.
3 — Interpret the Signals
• RSI Line – Observe the dynamically colored RSI line; a shift to green signals bullish momentum, while red indicates bearish conditions.
• Threshold Levels – Use the constant upper and lower lines as reference points for overbought and oversold states.
• Signal Timing – A crossover above the upper threshold or a crossunder below the lower threshold suggests potential entry or exit points.
4 — Integrate with Your Trading Strategy
• Combine RSI Trend Bias signals with other technical analysis tools to confirm market direction.
• Utilize the visual cues for fine-tuning your entry and exit decisions, ensuring robust risk management and optimized trade timing.
█ CONCLUSION
The RSI Trend Bias indicator offers a streamlined yet effective approach to monitoring market momentum. By leveraging the established principles of RSI analysis alongside dynamic visual cues, it enables traders to quickly identify bullish and bearish trends. Its customizable features and clear threshold indicators make it a valuable tool for enhancing technical analysis and making informed trading decisions.
Whale Activity Indicator (WAI)Overview
The Whale Activity Indicator (WAI) is designed to detect institutional accumulation, dark pool trades, and high-volume transactions that often precede major price moves. By analyzing volume spikes, On-Balance Volume (OBV), and the Money Flow Index (MFI), this indicator identifies potential whale buy and sell zones, providing traders with an edge in spotting large player activity.
How It Works
1️⃣ Institutional & Dark Pool Volume Detection
🔹 Large financial institutions and hedge funds often execute trades in dark pools or through block trades to prevent price slippage.
🔹 The indicator compares the current volume to predefined institutional and dark pool volume thresholds to determine if a trade is large enough to be considered whale activity.
🛠 Calculation:
If the total volume exceeds the Dark Pool Volume Threshold, it’s flagged as a dark pool trade.
If the total volume exceeds the Institutional Volume Threshold, it’s flagged as an institutional trade.
2️⃣ Volume Spike Detection
🔹 A sudden spike in trading volume relative to historical averages often signals the presence of institutional traders.
🔹 Instead of using a strict Z-score, this indicator detects volume spikes based on a rolling percentile threshold to ensure better adaptability across different assets.
🛠 Calculation:
Computes the Simple Moving Average (SMA) of volume over a period.
Defines a volume spike as any bar where the volume is 1.5× above the SMA (adjustable for sensitivity).
3️⃣ Trend Confirmation Using OBV & MFI
🔹 Institutions rarely trade against the trend, so additional validation is done using On-Balance Volume (OBV) and the Money Flow Index (MFI).
🛠 Calculation:
OBV (On-Balance Volume): Measures buying and selling pressure. A rising OBV suggests accumulation, while a falling OBV suggests distribution.
MFI (Money Flow Index): Confirms whether the volume is being accompanied by price movement, filtering out false signals.
🔹 BUY Signal: When OBV & MFI are both rising, it confirms institutional accumulation.
🔹 SELL Signal: When OBV & MFI are both falling, it confirms institutional distribution.
Signals & Visualization
📊 Plots:
✅ Green Up Label (Whale Buy) → Indicates institutional accumulation and potential price increase.
❌ Red Down Label (Whale Sell) → Indicates institutional distribution and potential price drop.
📉 Volume Histogram & Threshold Line → Helps visualize volume spikes relative to historical levels.
How to Use It in Trading
✔ Use this indicator on highly liquid assets (e.g., SPY, AAPL, NVDA) for best results.
✔ Combine with options flow analysis for deeper insight into institutional positioning.
✔ Adjust volume thresholds based on the asset’s liquidity and average trading volume.
✔ Backtest with different sensitivity levels to find optimal settings for your strategy.
🔔 Optional Add-ons: Alerts can be added to notify traders of significant whale movements in real time!
ALL Candelstick Pattern✅ User Input for Shadow Ratio
✔ You can now set the shadow-to-body ratio in the settings.
✔ Default value = 2.0 (you can change it).
Bullish Hammer (Green Arrow & Label)
Bearish Inverted Hammer (Red Arrow & Label)
TOP & Bottom FinderThis script is designed to help traders identify potential market tops and bottoms using RSI-based calculations and ATR-based support detection.
Key Features:
✅ Top Finder – Uses a customized RSI-based method to detect overbought conditions.
✅ Bottom Finder – Identifies potential bottoming areas based on RSI, ATR, and bullish rejection candles.
✅ Arrow Signals – Plots visual markers at potential reversal points.
This tool is ideal for traders looking to spot trend reversals and make informed trading decisions. 📈📉🚀
5-8-13 EMA Strategy5-8-13 EMA Strategy Indicator
This indicator leverages three Exponential Moving Averages (EMAs) with periods of 5, 8, and 13 to identify trend direction and generate actionable trading signals for options, stocks, or other markets. Based on Fibonacci-inspired lengths, the strategy uses the fast-reacting 5 EMA, the smoothing 8 EMA, and the trend-setting 13 EMA to spot momentum shifts.
How It Works:
Buy Call Signal: Triggers when the 5 EMA crosses above the 8 EMA, signaling bullish momentum. Optionally, confirmation requires the candle to close above the 5 EMA with all EMAs stacked bullishly (5 > 8 > 13).
Buy Put Signal: Triggers when the 5 EMA crosses below the 8 EMA, indicating bearish momentum. Confirmation can require a close below the 5 EMA with a bearish stack (5 < 8 < 13).
Signals appear as "Buy Call" (green label below the bar) or "Buy Put" (red label above the bar).
Features:
Customizable signal modes: "Crossover Only" for faster triggers or "Crossover + Close Confirmation" for stricter entries.
Toggle signals on/off via settings.
Visual EMAs (blue 5, orange 8, red 13) overlay the chart for easy trend tracking.
Alert conditions for real-time notifications.
Best Use:
Ideal for day trading on shorter timeframes (e.g., 5-minute charts) or swing trading on longer ones (e.g., 15-minute). Works best in trending markets; pair with additional filters like volume or support/resistance to reduce noise in choppy conditions.
5-8-13 EMA StrategyHere’s a concise yet informative description for your 5-8-13 EMA strategy indicator that you can use in the script or share elsewhere. It captures the essence of what we’ve discussed—how it works, its purpose, and its flexibility—while keeping it trader-friendly.
5-8-13 EMA Strategy Indicator
This indicator leverages three Exponential Moving Averages (EMAs) with periods of 5, 8, and 13 to identify trend direction and generate actionable trading signals for options, stocks, or other markets. Based on Fibonacci-inspired lengths, the strategy uses the fast-reacting 5 EMA, the smoothing 8 EMA, and the trend-setting 13 EMA to spot momentum shifts.
How It Works:
Buy Call Signal: Triggers when the 5 EMA crosses above the 8 EMA, signaling bullish momentum. Optionally, confirmation requires the candle to close above the 5 EMA with all EMAs stacked bullishly (5 > 8 > 13).
Buy Put Signal: Triggers when the 5 EMA crosses below the 8 EMA, indicating bearish momentum. Confirmation can require a close below the 5 EMA with a bearish stack (5 < 8 < 13).
Signals appear as "Buy Call" (green label below the bar) or "Buy Put" (red label above the bar).
Accurate Trend IndicatorAccurate Trend Indicator
The Accurate Trend Indicator is a powerful trend-following tool designed to help traders identify optimal buy and sell opportunities with precision. Based on the Supertrend algorithm, this indicator dynamically tracks market trends and provides clear entry and exit signals.
Features:
✅ Supertrend-Based Signals – Uses ATR (Average True Range) to determine trend direction.
✅ Buy & Sell Alerts – Displays green "BUY" labels and red "SELL" labels when trend changes.
✅ Color-Coded Candles – Bullish candles turn green, and bearish candles turn red for better visualization.
✅ Works on Any Market – Compatible with Forex, Stocks, Crypto, and Commodities.
✅ Customizable Inputs – Adjust the ATR length and multiplier to fit your trading strategy.
How It Works:
A BUY signal appears when the price crosses above the Supertrend line.
A SELL signal appears when the price crosses below the Supertrend line.
Candle colors change based on trend direction to enhance clarity.
This indicator is ideal for traders who want a simple yet effective tool to follow market trends and make informed decisions.
🚀 Try it now and enhance your trading strategy! 🚀
Buy & Sell Signal Indicator based on 9 ema Script Summary: Buy & Sell Signal Indicator
This Pine Script v5 indicator is designed to generate buy and sell signals based on the relationship between the 9-period EMA (Exponential Moving Average) and trend structure (higher highs, higher lows for buy signals; lower highs, lower lows for sell signals).
Main Components:
9 EMA Calculation
ema9 = ta.ema(close, 9)
Acts as a trend filter for trade signals.
Trend Identification:
Higher Highs & Higher Lows → Indicates an uptrend
Lower Highs & Lower Lows → Indicates a downtrend
Buy Signal Condition:
close > ema9 and close > ema9 (above EMA)
Presence of higher highs and higher lows
Indicates a bullish trend → Plots a green "BUY" label below bars.
Sell Signal Condition:
close < ema9 and close < ema9 (below EMA)
Presence of lower highs and lower lows
Indicates a bearish trend → Plots a red "SELL" label above bars.
Chart Visuals:
Green "BUY" label below bars for buy signals.
Red "SELL" label above bars for sell signals.
Blue 9 EMA line for trend reference.
Usage & Interpretation:
Buy signals suggest potential long entries in an uptrend.
Sell signals suggest potential short entries in a downtrend.
Works best in trending markets rather than ranging conditions.