Bjorgum

Bjorgum Triple EMA Strat

-This script uses a triple EMA strategy to establish trend direction and reversal points

-Inputs are smoothed with Heiken Ashi values to reduce whipsaws, while providing timely execution

-Buy and sell indications are dictated by bar color

-Bar color is dictated by the candle close value in relation to the EMAs, specifically the faster of the 3
(If candle closes above or below the fast and intermediate averages, a buy or sell signal is indicated by bar color change)

-If the close falls between the two a cautionary signal is given. The viewer can hold, or take profit, or evaluate other indicators for clues

-Best results are obtained when coupled with Bjorgum TSI and Bjorgum RSI for confirmation of signals (see TradingView profile)



@Bjorgum on Stocktwits
Versionshinweise: *NEW*

Added alert function to trigger under the same conditions as a bar color change. This occurs as close crosses the 5 and 9 smoothed averages.


@Bjorgum on StockTwits
Versionshinweise: Display picture update
Open-source script

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.

Want to use this script on a chart?

Kommentare

You obviously have a talent. Cheers.
+4 Antworten
Bjorgum Dmitry325
@Dmitry325, wow thank you
+1 Antworten
Hi, I am Absolute new to this world, yet no computer background at all. Reading all the comments, i interested very much to have your indicator can be installed in my MT4/MT5, but how? would you let me know? Thanks very much
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Super system and indicators.. Thank you brother! Could you suggest the best way to determine the Take Profit level?
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Bjorgum LittleBanii
@LittleBanii, Take profit is a very dynamic and personal variable. PM me and I will be happy to discuss some strategies with you outside of the buy and sell signals generated by the EMA or Reversal scripts in conjunction with BJ TSI and RSI scripts. It is the combination of RSI + TSI + (either reversal or ema) that gives trades of highest probability of success imo.
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Hi there. This is great. I am a little confused on setting up alerts for this. If i wanted to set an alert to signal a buy, would i set the condition to -less than - EMA Fast - once per bar close ? I've been watching this for a couple of days now and am really interested to implement it. Thanks again.
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Bjorgum kapustapotimus
@kapustapotimus, I will work on coding an alert signal for this to make this simple and release an update. Until then, If price is below emas and red, set alert for price cross of ema 9 and this should show you when a cross of both 5 and 9 occur signaling a buy. The opposite can be done for a sell. Per bar close is confirmation, but the initial cross can get you ready in anticipation sometimes offering an early trade
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