UM-EMA Crossover Oscillator with Pre-cross Warning

3 saat önce
Indicator Description and Colors

This is an Exponential moving average crossover oscillator with some color modifications. The indicator is filled with Red when the faster EMA is below the slower EMA and Green when the faster EMA is above the slower EMA. The zero line represents the EMA crossover. Yellow is displayed when the slower EMA is trending higher or lower but a crossover has not occurred yet. Think of this as an early warning of a possible trend change or possible early/partial position entry.

Indicator Settings
The default settings are 21 for the faster EMA and 55 for the slower EMA. Red, Yellow, and Green are the default fill colors. All settings are user-configurable.

Usage and Recommendations
This indicator can be used on any security or time frame. The default EMAs are 21 and 55. EMA pairs commonly used by the author include 2/6 and 8/3 on the daily time frame and 21/55 on the hourly. Day traders may want to look at the 3 minute time frames with EMA pairs, 8/233 of 21/55 and 420/1100. The 420/1100 pair is the equivalent of 21/55 on the hourly (roughly)
The author trades stocks, ETFs, options, and futures with this indicator.

Alternatively, if you just want to know when the longer EMA has turned from red, trending down, to green and trending up, set the shorter EMA to 1 period and the longer EMA to a period of your choosing. For example, settings of 1 and 55 on the oscillator will display when the longer 55 period EMA transitions trending down to up or trending up to down. This is usually faster than EMA crossovers. See my "UM-MA-Directional-Colors" indicator if you want an EMA on the chart that changes colors with direction.

Alerts
Alerts can be set by right clicking on the indicator, and selecting Add Alert. Four alerts are in the dropdown options: 1, Bullish crossover Alert, 2, Bearish crossover Alert, 3, Pre-Bullish crossover alert, and 4, Pre-Bearish crossover alert

1, A Bullish crossover alert takes place when the faster EMA crosses above the slower EMA
2, A Bearish crossover alert takes place when the faster EMA crosses below the slower EMA
3, A Pre-bullish crossover alert takes place when the faster EMA is below the slower EMA, but the slower EMA is now trending higher, Yellow oscillator color trending higher.
4, A Pre-bearish crossover alert takes place when the faster EMA is above the slower EMA, but the slower EMA is now trending lower, Yellow oscillator color trending lower.

Happy Trading everyone!