This is a very simple crossover script that looks at a exponential moving average with a standard length set at 20, which may be redefined by the user. A (Uptrend) buy signal is given once a candle closes above the moving average, coloring the exponential average green, and a sell signal is given once a candle closes below the moving average, coloring the exponential average red.
The goal of this indicator is to provide the user with a rather robust idea of whether the market is trending upwards or downwards, more so than providing definitive buy or sell signals. It works with symbols that do not change drastically in shorter time periods (I only trade XAU/USD).FXOPEN:XAUUSD
Versionshinweise
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A name change was done, to give an indication as to what is expected from the indicator: Trends!
The EMA source can now be selected, with the uptrend signal now only being triggered once the entire candle closes above the selected EMA, and similarly for downtrends - Only triggered when the entire candle closes below the EMA.
Finally, the fill colors have been corrected such as not to overlap.
thank you please can you update it to have a MTF option? (Multi Timeframe)
mehtabchahal
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Thank you for creating this indicator. I was looking for this for months. I had been trying to create this from scratch with no luck and had been trying to do with built-in EMAs.
please can you update it to have a MTF option? (Multi Timeframe)