INVITE-ONLY SCRIPT
MA-SS ( EMA SSL ) Indicator Strategy
This is the strategy script relating to the already-published MA-SS Indicator Study.
Backtest properties for the strategy tester results shown below are;
- 10k initial capital
- 50% of equity
- 0.0075% commission
- zero values on everything else
The MA-SS Indicator is a simple yet effective indicator using a combination of EMAs and SSL channel, utilising higher time frame data to help confirm trend/ price direction.
How does it work?
The Indicator consists of;
- 3 x EMAs – The 3rd EMA being a filter EMA
- Multi Time Frame EMA (This is an additional filter EMA which can be switched on and off)
- Multi Time Frame SSL Channel (This acts as a filter and can also be switched on and off)
The concept initially began as a simple EMA crossing indicator, but adding an MTF EMA plus a MTF SSL channel for additional filtering, helped to give a better indication of trend and ultimately filter out several bad trades.
- EXAMPLE: If price is …
o below the MTF EMA filter
o The MTF SSL Channel is red
o White and blue EMAs cross below the yellow (filter) EMA in the red SSL channel
> …a short is fired!
- (Opposite scenario for longs)
- Your stop loss would ideally be the top/ bottom of the SSL channel (either the MTF SSL channel or a standard SSL channel added manually to the chart), or, go for a clear pivot point or support/ resistance level.
- Take profit is yours to decide but I opt for a 1:1.5 risk/reward ratio. You could also use the MTF SSL channel to gauge when you should exit your trade (i.e. if you're in a long, wait for the SSL channel to flip red).
Any questions please fire away in the comments
Backtest properties for the strategy tester results shown below are;
- 10k initial capital
- 50% of equity
- 0.0075% commission
- zero values on everything else
The MA-SS Indicator is a simple yet effective indicator using a combination of EMAs and SSL channel, utilising higher time frame data to help confirm trend/ price direction.
How does it work?
The Indicator consists of;
- 3 x EMAs – The 3rd EMA being a filter EMA
- Multi Time Frame EMA (This is an additional filter EMA which can be switched on and off)
- Multi Time Frame SSL Channel (This acts as a filter and can also be switched on and off)
The concept initially began as a simple EMA crossing indicator, but adding an MTF EMA plus a MTF SSL channel for additional filtering, helped to give a better indication of trend and ultimately filter out several bad trades.
- EXAMPLE: If price is …
o below the MTF EMA filter
o The MTF SSL Channel is red
o White and blue EMAs cross below the yellow (filter) EMA in the red SSL channel
> …a short is fired!
- (Opposite scenario for longs)
- Your stop loss would ideally be the top/ bottom of the SSL channel (either the MTF SSL channel or a standard SSL channel added manually to the chart), or, go for a clear pivot point or support/ resistance level.
- Take profit is yours to decide but I opt for a 1:1.5 risk/reward ratio. You could also use the MTF SSL channel to gauge when you should exit your trade (i.e. if you're in a long, wait for the SSL channel to flip red).
Any questions please fire away in the comments
Script que requiere invitación
El acceso a este script está restringido a los usuarios autorizados por el autor y, por regla general, es de pago. Puede añadirlo a sus favoritos, pero solo podrá usarlo si solicita permiso al autor y éste le autoriza. Para obtener más información, póngase en contacto con petemartin95 o siga las siguientes instrucciones del autor.
TradingView recomienda no comprar ni utilizar un script si su autor no le ofrece total confianza o cuando no entienda cómo funciona. En muchos casos, puede encontrar una buena alternativa de código abierto de forma gratuita en nuestros Scripts de la comunidad.
Instrucciones del autor
″If you would like to try this indicator please contact me or see my signature for more details.
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