Prowl's EMA 10/20/50 trend following

14 saat önce

This indicator is designed to simplify trend trading by visually filtering market noise. It removes the need to constantly analyze multiple moving average crossovers by converting complex trend alignment into a simple "Traffic Light" background system.

How it Works This script utilizes a triple-EMA (Exponential Moving Average) system to gauge market conditions on two levels:

Momentum: It analyzes the relationship between the Fast and Medium EMAs to determine immediate short-term momentum.

Trend Filter: It compares the current price action against a Slow (Baseline) EMA to ensure the major trend is respected.

Visual Guide

Green Background: This indicates a "High Probability Buy Zone." It only triggers when both the short-term momentum is positive (Fast EMA ≥ Medium EMA) AND the price is maintaining its structure above the long-term baseline (Price ≥ Trend EMA).

Red Background: Indicates neutral or bearish conditions where the trend alignment is broken.

The Lines:

Red Line: Fast EMA (Short-term reaction)

Orange Line: Medium EMA (Intermediate trend)

Green Line: Trend EMA (Long-term baseline)

Features

Visual Simplicity: The background color allows you to instantly see if the trend is in your favor without cluttering your mental space.

Fully Customizable: All EMA lengths are adjustable in the settings to fit your specific timeframe (Scalping vs. Swing Trading).

Gradient Colors: The lines are color-coded (Red to Green) to visually represent the time horizon.

Adjustable Opacity: Users can control the intensity of the background color to keep their charts clean.

Usage Strategy This tool is best used as a "Trend Filter." Traders can look for their specific entry setups (candlestick patterns, breakouts, etc.) only when the background is Green, and stand aside or look for shorts when the background is Red.

13 saat önce

Sürüm Notları

This indicator is designed to simplify trend trading by visually filtering market noise. It removes the need to constantly analyze multiple moving average crossovers by converting complex trend alignment into a simple "Traffic Light" background system.

How it Works This script utilizes a triple-EMA (Exponential Moving Average) system to gauge market conditions on two levels:

Momentum: It analyzes the relationship between the Fast and Medium EMAs to determine immediate short-term momentum.

Trend Filter: It compares the current price action against a Slow (Baseline) EMA to ensure the major trend is respected.

Visual Guide

Green Background: This indicates a "High Probability Buy Zone." It only triggers when both the short-term momentum is positive (Fast EMA ≥ Medium EMA) AND the price is maintaining its structure above the long-term baseline (Price ≥ Trend EMA).

Red Background: Indicates neutral or bearish conditions where the trend alignment is broken.

The Lines:

Red Line: Fast EMA (Short-term reaction)

Orange Line: Medium EMA (Intermediate trend)

Green Line: Trend EMA (Long-term baseline)

Features

Visual Simplicity: The background color allows you to instantly see if the trend is in your favor without cluttering your mental space.

Fully Customizable: All EMA lengths are adjustable in the settings to fit your specific timeframe (Scalping vs. Swing Trading).

Gradient Colors: The lines are color-coded (Red to Green) to visually represent the time horizon.

Adjustable Opacity: Users can control the intensity of the background color to keep their charts clean.

Usage Strategy This tool is best used as a "Trend Filter." Traders can look for their specific entry setups (candlestick patterns, breakouts, etc.) only when the background is Green, and stand aside or look for shorts when the background is Red.