[THETA] Tema Hema Evwma Trade Action

Is an Intraday Strategy Indicator, To be used over 1 minute chart and in conjunction with built in pine indicator Pivot Point Standard, {Fibonacci One}

I came across this Strategy Indicator while reading through the Forex Trading Journals, and thought of sharing you guys

The Indicator Comprises of amalgamation of
TEMA : Triple Exponential Moving Average
HMA : Hulls Moving Average
EVWMA and EMA: Elastic Volume weighted Moving Average and Exponential Moving Average
Filter Action by Rajandran R Supertrend

Theta = ( tema ( src , length) + hma ( src , length) + ema ( src , length) + evwma( src , length) )/4

The lengths in use are: 8,21,34,55,89,144,233,610

How to Use
Use on 1 min chart for best results
UsE in Conjuction with Fibonacci Pivot Points , (.which is present in option of built in pine indicator : Pivot Point Standard )

Provision For Alert
Long theta Signal
Short theta Signal
Open-source Skript

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.

Möchten Sie dieses Skript auf einem Chart verwenden?
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