This indicator generates trend-following trade signals on the price chart by combining moving average crossovers with multi-factor filters. It triggers entry alerts when fast and slow EMAs cross in the direction of a baseline trend EMA, confirmed by non-extrem
Indicator · Pine Script v5 · On the chart
Short-Term Scanner (Enhanced with 0.5% or More)
This indicator identifies short-term momentum opportunities by combining exponential moving averages, volume expansion, and candle body structure filters.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code54
Settings0inputs
LicenceNone stated
Last update1 year ago13 Jan 2025
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Short-Term Scanner (Enhanced with 0.5% or More) calculates 9-period and 21-period EMAs to define trend direction, verifies above-average trading volume against a 20-period simple moving average, and checks for momentum candles based on 14-period ATR. It plots green and red circles for buy and sell setups, along with blue triangles indicating price movements exceeding 0.5%. All indicators and signals display on the main price chart.
- EMA trend direction filter using 9 and 21 EMAs
- Volume filter comparing volume against 20-period SMA
- Momentum candle detection based on ATR and body ratio
- Visual signal shapes for 0.5% price target conditions
Details
Published by
AlexVic1 on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Trend, Oscillators & momentum, Moving averages, Volume
Markets
Crypto
Timeframes
M1-M5, M15-H1
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
File
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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