I originally wrote this script earlier this year for my own use. This released version is an updated version of my original idea based on more recent script ideas. As always with my Alert scripts please do not trade the CALL/PUT indicators blindly, always analyse each position carefully. Always test indicator in DEMO mode first to see if it profitable for your trading style.
DESCRIPTION: This Alert indicator utilizes the Heiken Ashi with non lag EMA was a scalping and intraday trading system that has been adapted also for trading with binary options high/low. There is also included filtering on MACD direction and trend direction as indicated by two MA: smoothed MA(11) and EMA(89). The the Heiken Ashi candles are great as price action trending indicator, they shows smooth strong and clear price fluctuations.
Financial Markets: any. Optimsed settings for 1 min, 5 min and 15 min Time Frame; Expiry time for Binary options High/Low 3-6 candles.
Indicators used in calculations: - Exponential moving average, period 89 - Smoothed moving average, period 11 - Non lag EMA, period 20 - MACD 2 colour (13,26,9)
Generate Alerts use the following Trading Rules Heiken Ashi with non lag dot Trade only in direction of the trend. UP trend moving average 11 period is above Exponential moving average 89 period, Doun trend moving average 11 period is below Exponential moving average 89 period,
CALL Arrow appears when: Trend UP SMA11>EMA89 (optionally disabled), Non lag MA blue dot and blue background. Heike ashi green color. MACD 2 Colour histogram green bars (optional disabled).
PUT Arrow appears when: Trend UP SMA11<EMA89 (optionally disabled), Heike ashi red color. Non lag MA red dot and red background. MACD 2 colour histogram red bars (optionally disabled).
HINTS: - Good positions occur when MACD crosses the Zero line. - Switch between Heikin Ashi and Normal candles as part of your analysis of the price action. - Large Heikin Ashi candles with small wicks in direction of trend are good strong trends.
Notas de prensa
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Update 1.2
Added extra Alerts.
Added optional Arrows for ZEMA direction change alerts.
Updated to version3 Pinescript.
Replace ZEMA calculation with more accurate formula.
I'm sorry but I can't add this to my Favorite scripts
M_M_M_M
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hello @JustUncleL can this be used for stock market as well? Trying to plot this into 1-4hr and daily timeframe for swing trading and it seems a bit messy. Would appreciate any suggestion? Thnak you
ElectricSavant
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JustUncleL,
I have noticed your work here at TradingView. I just wanted to say that you are very generous and appreciated by many here, including myself. I am using this code, just now, that you published with success. As you know things do not work always and the market changed character and I am hoping this code will last a while and work on the instrument I am trading.
Es
JustUncleL
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@ElectricSavant, This is a good strategy of trading PullBacks within a trend. This method, as with all trend following strategies, is unlikely to work well when the market is not trending, ie goes into a ranging market.
abdulmujahid
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like your strategy
zerogas
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Hi. Do I need to setup this alert for each stock or can I can set it up easily for more than 1 stock? Thanks in advance.
Black-Hawk2024
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Such a wonderful indicator . Thank you so much Uncle . Really this works wonders on 1 minute on volatile crypto coins. I couldnt thank you enough. Would love to add one of your other indicators for confirmation