EMI 2 (v2.1)
After months and months of back-testing. I finally decided to release this update. Would also like to give out a special thanks to TradingView for making it possible to create scripts and share this with the community. I have acquired a lot of information in this community. I believe that when you take, you should also share. That’s why I am sharing this wonderful indicator for free. Remember, knowledge and experience is the most valuable things in life.
EMI, short for Epic Market Indicator:
60-80% theoretically profitable trades, depending on the time period. However if you use EMI blindly, the percentage might even go lower. Nevertheless, there should be enough presenting opportunities, if you use her wisely. Remember, like any instrument, 'practice makes perfect'.
This indicator is a combination of different oscillators:
Common:
New v2.1:
RSI turns green or red when entering overbought or oversold territories.
Dots on wave crossings are buy or sell signals.
Diamonds above are possible bottoms and tops.
Green = Possible Bull/Bottom signals
Red = Possible Sell/Top signals
The signal conditions are based on different oscillators, known by many traders. ALWAYS wait for the candle to close and preferring even more confirmations before taking any consideration nor actions. No signals means most of the time trend continuation. EMI 2 in combination with EMI 1 and traditional authentic pattern formations with a darkened theme is recommended.
Good luck fellow traders and don't forget to tap the like & follow button. Thanks in advance.
EMI, short for Epic Market Indicator:
60-80% theoretically profitable trades, depending on the time period. However if you use EMI blindly, the percentage might even go lower. Nevertheless, there should be enough presenting opportunities, if you use her wisely. Remember, like any instrument, 'practice makes perfect'.
This indicator is a combination of different oscillators:
Common:
- MACD
- VWAP
- RSI
- Stochastic
- Money Flow
- Money Flow Velocity
- Buy & Sell signals
- Bottom & Top signals
- Volume Flow heat map
New v2.1:
- Money Flow Velocity
- RSI added level 1 & 2 over-bought or -sold territories
- Modified Top & Bottom conditions
- Modified algorithms for even more accurate analysis
- Modified Money Flow settings
RSI turns green or red when entering overbought or oversold territories.
Dots on wave crossings are buy or sell signals.
Diamonds above are possible bottoms and tops.
Green = Possible Bull/Bottom signals
Red = Possible Sell/Top signals
The signal conditions are based on different oscillators, known by many traders. ALWAYS wait for the candle to close and preferring even more confirmations before taking any consideration nor actions. No signals means most of the time trend continuation. EMI 2 in combination with EMI 1 and traditional authentic pattern formations with a darkened theme is recommended.
Good luck fellow traders and don't forget to tap the like & follow button. Thanks in advance.